sec.7ARequirement to pay conversion cost

sec.7A Requirement to pay conversion cost

If a deed of grant is issued subject to the chief executive’s charge, the registered owner of the land in the deed of grant must pay the conversion cost for the unconverted lease to the chief executive within the period stated in subsection (2) . The period (the payment period ) is— if the lessee of the unconverted lease died and the converting change of ownership was a transmission or transfer to a beneficiary in relation to the deceased lessee—the period provided for under section 7B ; or otherwise—2 years from the day the converting change of ownership is registered. s 7A ins 2005 No. 46 s 14 (sec.7A-ssec.1) If a deed of grant is issued subject to the chief executive’s charge, the registered owner of the land in the deed of grant must pay the conversion cost for the unconverted lease to the chief executive within the period stated in subsection (2) . (sec.7A-ssec.2) The period (the payment period ) is— if the lessee of the unconverted lease died and the converting change of ownership was a transmission or transfer to a beneficiary in relation to the deceased lessee—the period provided for under section 7B ; or otherwise—2 years from the day the converting change of ownership is registered.

• (a) if the lessee of the unconverted lease died and the converting change of ownership was a transmission or transfer to a beneficiary in relation to the deceased lessee—the period provided for under section 7B ; or
• (b) otherwise—2 years from the day the converting change of ownership is registered.