sec.10IFreeholding covenant

sec.10I Freeholding covenant

Every lease, deemed pursuant to this part to be a freeholding lease, shall be deemed to contain a covenant that the Governor in Council shall, in the name of Her Majesty, grant in fee simple to the lessee the land comprised in the lease— upon payment of all moneys, including interest thereon, payable in respect of the purchasing price of the land comprised in the freeholding lease and any other moneys unpaid on any account in respect of the lease; and upon the due performance by the lessee of the terms and conditions binding upon the lessee of the lease. Upon a lessee becoming entitled to performance of the covenant referred to in subsection (1) , the chief executive shall surrender to the Crown any estate or interest of the chief executive in the land concerned. The Governor in Council shall, in the name of Her Majesty, grant in fee simple any land to a person thereunto entitled under this part. Section 285 of the Land Act 1962 applies to a deed of grant issued under this division. Every grant in fee simple by the Governor in Council pursuant to this part and every deed of grant issued accordingly shall be deemed to have been granted and issued under the Land Act 1994 the provisions whereof relating to deeds of grant apply thereto. s 10I ins 1980 No. 49 s 13 amd 1992 No. 64 s 3 sch 1 ; 2003 No. 52 s 153 sch 2 (amd 2005 No. 33 s 11 (retro)); 2005 No. 46 s 9 sch (sec.10I-ssec.1) Every lease, deemed pursuant to this part to be a freeholding lease, shall be deemed to contain a covenant that the Governor in Council shall, in the name of Her Majesty, grant in fee simple to the lessee the land comprised in the lease— upon payment of all moneys, including interest thereon, payable in respect of the purchasing price of the land comprised in the freeholding lease and any other moneys unpaid on any account in respect of the lease; and upon the due performance by the lessee of the terms and conditions binding upon the lessee of the lease. (sec.10I-ssec.2) Upon a lessee becoming entitled to performance of the covenant referred to in subsection (1) , the chief executive shall surrender to the Crown any estate or interest of the chief executive in the land concerned. (sec.10I-ssec.3) The Governor in Council shall, in the name of Her Majesty, grant in fee simple any land to a person thereunto entitled under this part. (sec.10I-ssec.4) Section 285 of the Land Act 1962 applies to a deed of grant issued under this division. (sec.10I-ssec.5) Every grant in fee simple by the Governor in Council pursuant to this part and every deed of grant issued accordingly shall be deemed to have been granted and issued under the Land Act 1994 the provisions whereof relating to deeds of grant apply thereto.

• (a) upon payment of all moneys, including interest thereon, payable in respect of the purchasing price of the land comprised in the freeholding lease and any other moneys unpaid on any account in respect of the lease; and