sec.492Application for new tenure under this Act

### sec.492 Application for new tenure under this Act If land contained in a conditional deed is still needed for the public purpose, the local government may apply to exchange the conditional deed for a reserve or deed of grant in trust with the local government as trustee or a lease issued under this Act. If land contained in a conditional deed is exchanged for a reserve or deed of grant in trust, the public purpose for which the conditional deed was issued may be changed to another public purpose. An exchange of tenure under this section is subject to all the encumbrances to which the existing conditional deed was subject and in the same priorities, unless the parties involved agree otherwise. (sec.492-ssec.1) If land contained in a conditional deed is still needed for the public purpose, the local government may apply to exchange the conditional deed for a reserve or deed of grant in trust with the local government as trustee or a lease issued under this Act. (sec.492-ssec.2) If land contained in a conditional deed is exchanged for a reserve or deed of grant in trust, the public purpose for which the conditional deed was issued may be changed to another public purpose. (sec.492-ssec.3) An exchange of tenure under this section is subject to all the encumbrances to which the existing conditional deed was subject and in the same priorities, unless the parties involved agree otherwise.