sec.240ISale of lease

### sec.240I Sale of lease This section applies if a relevant local government has been given notice under section 240H . Subject to subsections (3) to (5) , the Local Government Act 2009 , to the extent that Act provides for the sale of land to recover overdue rates and charges relating to the land, applies to the sale of a lease under this subdivision. The local government must start the process of selling a lease under this subdivision within the required period stated in the notice under section 240H (2) . The local government must set a reserve price for the sale of the lease by auction, or a price for the sale of the lease under an agreement, that is at least the total of all charges owing to the State under this Act relating to the lease. The local government must use the proceeds of the sale of the lease to pay the State the amount of all charges owing to the State under this Act relating to the lease before using the proceeds to pay any amount owing to the local government. s 240I ins 2007 No. 19 s 125 amd 2013 No. 23 s 89 (sec.240I-ssec.1) This section applies if a relevant local government has been given notice under section 240H . (sec.240I-ssec.2) Subject to subsections (3) to (5) , the Local Government Act 2009 , to the extent that Act provides for the sale of land to recover overdue rates and charges relating to the land, applies to the sale of a lease under this subdivision. (sec.240I-ssec.3) The local government must start the process of selling a lease under this subdivision within the required period stated in the notice under section 240H (2) . (sec.240I-ssec.4) The local government must set a reserve price for the sale of the lease by auction, or a price for the sale of the lease under an agreement, that is at least the total of all charges owing to the State under this Act relating to the lease. (sec.240I-ssec.5) The local government must use the proceeds of the sale of the lease to pay the State the amount of all charges owing to the State under this Act relating to the lease before using the proceeds to pay any amount owing to the local government.