sec.493Automatic issue of new tenure under this Act

### sec.493 Automatic issue of new tenure under this Act A conditional deed becomes a deed of grant in trust under this Act for the same public purpose for which it was granted, with the local government as trustee, if within 5 years of the commencement— the local government does not apply to exchange the conditional deed; or an application by the local government has been refused and no other application has been made. If the land contained in a conditional deed was subject to a lease, the lease becomes a trustee lease on the terms originally granted. A deed of grant in trust mentioned in subsection (1) is subject to all the encumbrances to which the conditional deed was subject and in the same priorities. (sec.493-ssec.1) A conditional deed becomes a deed of grant in trust under this Act for the same public purpose for which it was granted, with the local government as trustee, if within 5 years of the commencement— the local government does not apply to exchange the conditional deed; or an application by the local government has been refused and no other application has been made. (sec.493-ssec.2) If the land contained in a conditional deed was subject to a lease, the lease becomes a trustee lease on the terms originally granted. (sec.493-ssec.3) A deed of grant in trust mentioned in subsection (1) is subject to all the encumbrances to which the conditional deed was subject and in the same priorities. - (a) the local government does not apply to exchange the conditional deed; or - (b) an application by the local government has been refused and no other application has been made.