34Applications for residential land certificates covering a single proposed acquisition

34 Applications for residential land certificates covering a single proposed acquisition

(1) This section has effect despite section 32 and applies if: (a) a person applies for either of the following certificates (the first certificate): (i) a residential land (other than established dwellings) certificate; (ii) an exemption certificate under section 59 of the Foreign Acquisitions Act (about established dwellings); and (b) in a case in which the person holds the first certificate as a result of the application—the certificate is still in force, and the person has not taken the action specified in the certificate; and (c) the person applies for the other kind of certificate (the second certificate) mentioned in paragraph (a) at or after the time the person applied for the first certificate; and (d) the applications for the first certificate and the second certificate relate to a single proposal to acquire an interest in residential land; and (e) the person pays the fee payable for applying for the first certificate at or before the time of applying for the second certificate. (2) The fee payable for the application for the second certificate is: (a) if the amount of the fee payable for applying for the first certificate equals or exceeds the amount of the fee that would, apart from this subsection, be payable for the second certificate—nil; or (b) if the amount of the fee payable for applying for the first certificate falls short of the amount of the fee that would, apart from this subsection, be payable for the second certificate—the amount of the shortfall.