sec.6BCancellation of lease on registration of transfer

sec.6B Cancellation of lease on registration of transfer

This section applies if a prescribed change of ownership of an unconverted lease is registered. On registration of the change of ownership (the converting change of ownership ), the Governor in Council must issue a deed of grant for the land contained in the lease to the transferee recorded under the converting change of ownership. On the registration of the deed of grant, the lease is cancelled. The deed of grant is issued subject to all the following interests— if section 7 (2) applies to the deed—the chief executive’s charge; all of the interests to which the lease was subject. The order of priority of the interests is— firstly, the chief executive’s charge; and secondly, the interests mentioned in subsection (4) (b) in the order in which they would have had priority had the lease not been cancelled. If there is an unregistered document in relation to the cancelled lease, the document must be relodged by the registrar, for the person who lodged the document, against the deed of grant. As soon as practicable after the lease is cancelled, the registrar must— record the cancellation; and advise the chief executive of the cancellation. No fee is payable for recording the cancellation of the lease. In this section— unregistered document means a document that— has been lodged under the Land Act 1994 but is not registered; and has not been rejected. s 6B ins 2005 No. 46 s 14 amd 2009 No. 19 s 29 (sec.6B-ssec.1) This section applies if a prescribed change of ownership of an unconverted lease is registered. (sec.6B-ssec.2) On registration of the change of ownership (the converting change of ownership ), the Governor in Council must issue a deed of grant for the land contained in the lease to the transferee recorded under the converting change of ownership. (sec.6B-ssec.3) On the registration of the deed of grant, the lease is cancelled. (sec.6B-ssec.4) The deed of grant is issued subject to all the following interests— if section 7 (2) applies to the deed—the chief executive’s charge; all of the interests to which the lease was subject. (sec.6B-ssec.5) The order of priority of the interests is— firstly, the chief executive’s charge; and secondly, the interests mentioned in subsection (4) (b) in the order in which they would have had priority had the lease not been cancelled. (sec.6B-ssec.6) If there is an unregistered document in relation to the cancelled lease, the document must be relodged by the registrar, for the person who lodged the document, against the deed of grant. (sec.6B-ssec.7) As soon as practicable after the lease is cancelled, the registrar must— record the cancellation; and advise the chief executive of the cancellation. (sec.6B-ssec.8) No fee is payable for recording the cancellation of the lease. (sec.6B-ssec.9) In this section— unregistered document means a document that— has been lodged under the Land Act 1994 but is not registered; and has not been rejected.