sec.95Exemption from rating

### sec.95 Exemption from rating Land that is portfolio property is not rateable land for the Local Government Act 2009 . Subsection (1) does not apply to— land that is the subject of a section 24 contract or a section 113 contract; or land in which a person has a share that the person bought under a section 24 contract or a section 113 contract. In this section— section 24 contract means a contract of sale, entered into under the repealed Act, section 24 , under which— the purchasing price, other than any deposit, is payable in 2 or more instalments; or the sale is of a share in a house and land. section 113 contract means a contract of sale, entered into under section 113 , under which— the purchasing price, other than any deposit, is payable in 2 or more instalments; or the sale is of a share in a house and land. s 95 amd 2005 No. 33 s 7 (retro); 2009 No. 17 s 331 sch 1 (sec.95-ssec.1) Land that is portfolio property is not rateable land for the Local Government Act 2009 . (sec.95-ssec.2) Subsection (1) does not apply to— land that is the subject of a section 24 contract or a section 113 contract; or land in which a person has a share that the person bought under a section 24 contract or a section 113 contract. (sec.95-ssec.3) In this section— section 24 contract means a contract of sale, entered into under the repealed Act, section 24 , under which— the purchasing price, other than any deposit, is payable in 2 or more instalments; or the sale is of a share in a house and land. section 113 contract means a contract of sale, entered into under section 113 , under which— the purchasing price, other than any deposit, is payable in 2 or more instalments; or the sale is of a share in a house and land. - (a) land that is the subject of a section 24 contract or a section 113 contract; or - (b) land in which a person has a share that the person bought under a section 24 contract or a section 113 contract. - (a) the purchasing price, other than any deposit, is payable in 2 or more instalments; or - (b) the sale is of a share in a house and land. - (a) the purchasing price, other than any deposit, is payable in 2 or more instalments; or - (b) the sale is of a share in a house and land.