sec.499Automatic issue of new tenure

### sec.499 Automatic issue of new tenure If there is no current miners homestead application for a miners homestead, the miners homestead becomes a perpetual town lease (non-competitive lease) under the Land Act 1962 , section 210 . A lease under subsection (1) is also subject to the following provisions— all the conditions and encumbrances of the miners homestead that existed on 31 December 1994 continue to apply to the lease with the same priority; the first rental period for the lease is from 1 January 1995 to 30 June 1995 and annual rental periods apply after that; subsection (1) applies despite the Land Act 1962 , section 210(1) ; the lease is not subject to the conditions of the Land Act 1962 , section 210(2) ; if the miners homestead was a miner’s homestead lease on 31 December 1994—the lease is subject to a special condition that, if freeholding of the lease is ever approved, the purchase price is an amount prescribed under the regulations; trees and quarry materials continue to belong to the lessee; arrears of rent on a miners homestead become arrears of rent on the lease. (sec.499-ssec.1) If there is no current miners homestead application for a miners homestead, the miners homestead becomes a perpetual town lease (non-competitive lease) under the Land Act 1962 , section 210 . (sec.499-ssec.2) A lease under subsection (1) is also subject to the following provisions— all the conditions and encumbrances of the miners homestead that existed on 31 December 1994 continue to apply to the lease with the same priority; the first rental period for the lease is from 1 January 1995 to 30 June 1995 and annual rental periods apply after that; subsection (1) applies despite the Land Act 1962 , section 210(1) ; the lease is not subject to the conditions of the Land Act 1962 , section 210(2) ; if the miners homestead was a miner’s homestead lease on 31 December 1994—the lease is subject to a special condition that, if freeholding of the lease is ever approved, the purchase price is an amount prescribed under the regulations; trees and quarry materials continue to belong to the lessee; arrears of rent on a miners homestead become arrears of rent on the lease. - (a) all the conditions and encumbrances of the miners homestead that existed on 31 December 1994 continue to apply to the lease with the same priority; - (b) the first rental period for the lease is from 1 January 1995 to 30 June 1995 and annual rental periods apply after that; - (c) subsection (1) applies despite the Land Act 1962 , section 210(1) ; - (d) the lease is not subject to the conditions of the Land Act 1962 , section 210(2) ; - (e) if the miners homestead was a miner’s homestead lease on 31 December 1994—the lease is subject to a special condition that, if freeholding of the lease is ever approved, the purchase price is an amount prescribed under the regulations; - (f) trees and quarry materials continue to belong to the lessee; - (g) arrears of rent on a miners homestead become arrears of rent on the lease.