sec.240KNotice that chief executive may sell

### sec.240K Notice that chief executive may sell The chief executive must give notice to each person who has a registered interest in the lease land that the chief executive is allowed to sell the lease under this subdivision. The notice must state either— that the chief executive proposes to enter into possession of the lease and sell the lease under this subdivision; or that the chief executive proposes that the lessee and the chief executive enter into an agreement (a transition to sale agreement ) that will apply until the lease is sold under this subdivision. The notice must advise the matters mentioned in— if the notice states the matter mentioned in subsection (2) (a) — section 240L ; or otherwise— sections 240L , 240M and 240N . If the notice states that the chief executive proposes that the lessee and the chief executive enter into a transition to sale agreement, the notice must require the lessee to advise the chief executive, within the time stated in the notice, of whether the lessee wishes to enter into a transition to sale agreement. s 240K ins 2007 No. 19 s 125 amd 2013 No. 23 s 352 sch 1 pt 1 (sec.240K-ssec.1) The chief executive must give notice to each person who has a registered interest in the lease land that the chief executive is allowed to sell the lease under this subdivision. (sec.240K-ssec.2) The notice must state either— that the chief executive proposes to enter into possession of the lease and sell the lease under this subdivision; or that the chief executive proposes that the lessee and the chief executive enter into an agreement (a transition to sale agreement ) that will apply until the lease is sold under this subdivision. (sec.240K-ssec.3) The notice must advise the matters mentioned in— if the notice states the matter mentioned in subsection (2) (a) — section 240L ; or otherwise— sections 240L , 240M and 240N . (sec.240K-ssec.4) If the notice states that the chief executive proposes that the lessee and the chief executive enter into a transition to sale agreement, the notice must require the lessee to advise the chief executive, within the time stated in the notice, of whether the lessee wishes to enter into a transition to sale agreement. - (a) that the chief executive proposes to enter into possession of the lease and sell the lease under this subdivision; or - (b) that the chief executive proposes that the lessee and the chief executive enter into an agreement (a transition to sale agreement ) that will apply until the lease is sold under this subdivision. - (a) if the notice states the matter mentioned in subsection (2) (a) — section 240L ; or - (b) otherwise— sections 240L , 240M and 240N .