sec.7BPayment period—deceased lessee

sec.7B Payment period—deceased lessee

For section 7A (2) (a) , the payment period is 5 years from the day of the lessee’s death. However, if the beneficiary to whom the unconverted lease was transferred transfers the land in the deed of grant to a non-beneficiary during the 5 year period, the payment period is the earliest of the following periods to end— 5 years from the day of the lessee’s death; 2 years from the day the transfer from the beneficiary to the non-beneficiary is registered. In this section— non-beneficiary means a person who is not a beneficiary in relation to the deceased lessee. s 7B ins 2005 No. 46 s 14 (sec.7B-ssec.1) For section 7A (2) (a) , the payment period is 5 years from the day of the lessee’s death. (sec.7B-ssec.2) However, if the beneficiary to whom the unconverted lease was transferred transfers the land in the deed of grant to a non-beneficiary during the 5 year period, the payment period is the earliest of the following periods to end— 5 years from the day of the lessee’s death; 2 years from the day the transfer from the beneficiary to the non-beneficiary is registered. (sec.7B-ssec.3) In this section— non-beneficiary means a person who is not a beneficiary in relation to the deceased lessee.

• (a) 5 years from the day of the lessee’s death;
• (b) 2 years from the day the transfer from the beneficiary to the non-beneficiary is registered.