sec.103Use or preservation covenants

sec.103 Use or preservation covenants

A use or preservation covenant entered into in connection with a PDA development application is of no effect unless the covenant is required under— a PDA development condition; or an infrastructure agreement. If the PDA development condition or infrastructure agreement under which a use or preservation covenant is required is changed in a way that affects rights or responsibilities under the covenant— the covenantee and the covenantor must execute an instrument that amends the covenant to reflect the change; and the covenantor must register the instrument. Also, the covenantee under a use or preservation covenant must register an instrument releasing the covenant if— the PDA development condition or infrastructure agreement under which the covenant was required ceases to require the covenant; or for a covenant required under a PDA development condition—the PDA development approval that was subject to the condition lapses or otherwise ends; or for a covenant required under an infrastructure agreement—the infrastructure agreement lapses or otherwise ends. In this section— register , an instrument in relation to a use or preservation covenant, means— if the covenant is registered under the Land Act 1994 —register the instrument under that Act; or if the covenant is registered under the Land Title Act 1994 —register the instrument under that Act. use or preservation covenant means a covenant mentioned in the Land Act 1994 , section 373A (5) (a) or (b) or the Land Title Act 1994 , section 97A (3) (a) or (b) . s 103 amd 2016 No. 17 s 111 sub 2019 No. 11 s 93 (sec.103-ssec.1) A use or preservation covenant entered into in connection with a PDA development application is of no effect unless the covenant is required under— a PDA development condition; or an infrastructure agreement. (sec.103-ssec.2) If the PDA development condition or infrastructure agreement under which a use or preservation covenant is required is changed in a way that affects rights or responsibilities under the covenant— the covenantee and the covenantor must execute an instrument that amends the covenant to reflect the change; and the covenantor must register the instrument. (sec.103-ssec.3) Also, the covenantee under a use or preservation covenant must register an instrument releasing the covenant if— the PDA development condition or infrastructure agreement under which the covenant was required ceases to require the covenant; or for a covenant required under a PDA development condition—the PDA development approval that was subject to the condition lapses or otherwise ends; or for a covenant required under an infrastructure agreement—the infrastructure agreement lapses or otherwise ends. (sec.103-ssec.4) In this section— register , an instrument in relation to a use or preservation covenant, means— if the covenant is registered under the Land Act 1994 —register the instrument under that Act; or if the covenant is registered under the Land Title Act 1994 —register the instrument under that Act. use or preservation covenant means a covenant mentioned in the Land Act 1994 , section 373A (5) (a) or (b) or the Land Title Act 1994 , section 97A (3) (a) or (b) .