303Power to Governor in Council to grant development leases

303 Power to Governor in Council to grant development leases (1) Notwithstanding anything to the contrary in this Act or any other Act or enactment the Governor in Council may grant to the Society a lease or leases (in this Part called "development leases") comprising all or any part of the land described in the Thirteenth Schedule to this Act. S. 303(2) amended by No. 7228 s. 7(Sch. 4 Pt 19(zb)(i)). (2) The term for which any development lease is granted shall be twenty-five years, and the rent shall be of such amount and payable in such manner as is determined by the Minister and expressed in the development lease. (3) Every development lease shall make provision with respect to the following matters— (a) the carrying out by and at the expense of the Society of— (i) the general improvement of the land comprised in the lease for primary production purposes; (ii) the subdivision of the land comprised in the lease, by means of surveys carried out in accordance with the regulations relating to surveys under this Act and approved by the Surveyor-General, and the setting out thereof into farms and for roads and other purposes considered by the Society to be necessary or expedient in connexion with those farms; and (iii) the further development of each such farm by the erection of all necessary buildings fences and structures thereon and the carrying out of improvements thereto to such extent as to make the farm available for practical economic farming thereon; (b) the allocation by the Society for such consideration in each case as the Society thinks fit of such farms to persons chosen by the Society and approved by the Minister to be the settlers on such farms, and the giving of preference in such allocation, so far as practicable, to persons who were members of the naval military and air forces of His Majesty or the Commonwealth or any other of the King's Dominions during the war which commenced in the year One thousand nine hundred and fourteen or the war which commenced in the year One thousand nine hundred and thirty-nine; (c) the payment by the Society or such settlers of all rates taxes and other charges payable on or in respect of any land comprised in the development lease; S. 303(3)(d) amended by Nos 7228 s. 7(Sch. 4 Pt 19(zb)(ii)), 25/2023 s. 7(Sch. 1 item 17.25). (d) the surrender to His Majesty by the Society of the whole or any part of the land comprised in any development lease but so that no compensation or consideration whatsoever shall be paid or payable by the Crown for or in consideration of any such surrender; S. 303(3)(e) amended by No. 25/2023 s. 7(Sch. 1 item 17.25). (e) the grant to a settler chosen by the Society and approved by the Minister as aforesaid of a Crown grant in fee simple of the land comprised in any such farm upon the application of the Society, the surrender to His Majesty of the development lease as to the said land and the payment by the Society or the settler of— (i) the unimproved value of the said land as at the date of grant of the development lease less an appropriate part of the moneys paid as rent in respect of the development lease; (ii) a Crown grant fee in accordance with the scale of fees fixed by regulations under this Act; and (iii) the appropriate amount payable to the assurance fund based on the said unimproved value; and (f) such other matters as the Governor in Council thinks fit. No. 5585 s. 4.