236Contributions by owners

236 Contributions by owners

236 Contributions by owners

(1) A notice given under the Act, Schedule 7, clause 9(1) must specify—

(a) the amount of the contribution sought, and

(b) the period, not less than 90 days, within which the contribution must be paid.

(2) For the purposes of the Act, Schedule 7, clause 9(5), the value of land dedicated or traded to the relevant authority in accordance with a development plan is the land value of the land, as at the date on which the land is dedicated or traded, as determined by the Valuer-General under the Valuation of Land Act 1916.