sec.164What is a rolling term lease

### sec.164 What is a rolling term lease A term lease is a rolling term lease if any of the following circumstances apply to it— it is a lease for tourism purposes for land on a regulated island; it is a lease that— includes tidal water land the subject of a covenant ensuring the lease may only be transferred to a person if a tourism lease is also transferred to the person; and the Minister has approved as a rolling term lease; it is a lease used for agriculture, grazing or pastoral purposes and the lease land is— rural leasehold land the area of which is 100ha or more; or rural leasehold land the area of which is less than 100ha and the Minister has approved the lease as a rolling term lease; or land that is not rural leasehold land and is not within a nature conservation area or specified national park; another provision of this Act provides the lease is a rolling term lease. Under section 176A (3) , if a rolling term lease over 100ha in area is subdivided into 2 or more new leases, each new lease that is issued is a rolling term lease even if its lease land is less than 100ha in area. However, a State lease is not a rolling term lease if the lease land is used for agriculture, grazing or pastoral purposes. In this section— tidal water land means land that, under section 9 (1) , is the property of the State and may be dealt with as unallocated State land. tourism lease means a term lease, or a perpetual lease, for tourism purposes for land on a regulated island. s 164 amd 2013 No. 23 s 71 sub 2014 No. 29 s 46 amd 2016 No. 22 s 39 ; 2017 No. 10 s 9 ; 2019 No. 7 s 176 (sec.164-ssec.1) A term lease is a rolling term lease if any of the following circumstances apply to it— it is a lease for tourism purposes for land on a regulated island; it is a lease that— includes tidal water land the subject of a covenant ensuring the lease may only be transferred to a person if a tourism lease is also transferred to the person; and the Minister has approved as a rolling term lease; it is a lease used for agriculture, grazing or pastoral purposes and the lease land is— rural leasehold land the area of which is 100ha or more; or rural leasehold land the area of which is less than 100ha and the Minister has approved the lease as a rolling term lease; or land that is not rural leasehold land and is not within a nature conservation area or specified national park; another provision of this Act provides the lease is a rolling term lease. Under section 176A (3) , if a rolling term lease over 100ha in area is subdivided into 2 or more new leases, each new lease that is issued is a rolling term lease even if its lease land is less than 100ha in area. (sec.164-ssec.2) However, a State lease is not a rolling term lease if the lease land is used for agriculture, grazing or pastoral purposes. (sec.164-ssec.3) In this section— tidal water land means land that, under section 9 (1) , is the property of the State and may be dealt with as unallocated State land. tourism lease means a term lease, or a perpetual lease, for tourism purposes for land on a regulated island. - (a) it is a lease for tourism purposes for land on a regulated island; - (b) it is a lease that— (i) includes tidal water land the subject of a covenant ensuring the lease may only be transferred to a person if a tourism lease is also transferred to the person; and (ii) the Minister has approved as a rolling term lease; - (i) includes tidal water land the subject of a covenant ensuring the lease may only be transferred to a person if a tourism lease is also transferred to the person; and - (ii) the Minister has approved as a rolling term lease; - (c) it is a lease used for agriculture, grazing or pastoral purposes and the lease land is— (i) rural leasehold land the area of which is 100ha or more; or (ii) rural leasehold land the area of which is less than 100ha and the Minister has approved the lease as a rolling term lease; or (iii) land that is not rural leasehold land and is not within a nature conservation area or specified national park; - (i) rural leasehold land the area of which is 100ha or more; or - (ii) rural leasehold land the area of which is less than 100ha and the Minister has approved the lease as a rolling term lease; or - (iii) land that is not rural leasehold land and is not within a nature conservation area or specified national park; - (d) another provision of this Act provides the lease is a rolling term lease. Example for paragraph (d) — Under section 176A (3) , if a rolling term lease over 100ha in area is subdivided into 2 or more new leases, each new lease that is issued is a rolling term lease even if its lease land is less than 100ha in area. - (i) includes tidal water land the subject of a covenant ensuring the lease may only be transferred to a person if a tourism lease is also transferred to the person; and - (ii) the Minister has approved as a rolling term lease; - (i) rural leasehold land the area of which is 100ha or more; or - (ii) rural leasehold land the area of which is less than 100ha and the Minister has approved the lease as a rolling term lease; or - (iii) land that is not rural leasehold land and is not within a nature conservation area or specified national park;