sec.521ZMApplication for term lease renewal before commencement may become extension application

### sec.521ZM Application for term lease renewal before commencement may become extension application This section applies if— immediately before the commencement, a renewal application for a term lease had been made under the renewal provisions but had not been finalised under those provisions; and on the commencement, the term lease does not become a rolling term lease. After the commencement, and before the application is finalised under the renewal provisions, the lessee may advise the chief executive that the lessee wishes the lease to become a rolling term lease. If the lessee advises the chief executive under subsection (2), and the Minister approves the lease as a rolling term lease under section 164(1)(c), the renewal application for the lease is taken to be an extension application for the lease, and must be dealt with under chapter 4, part 3, division 2, subdivision 3. If the lessee does not advise the chief executive under subsection (2), or if the lessee advises the chief executive under subsection (2) but the Minister does not approve the lease as a rolling term lease under section 164(1)(c), the renewal application must be dealt with under this Act as in force immediately before the commencement. s 521ZM ins 2014 No. 29 s 97 (sec.521ZM-ssec.1) This section applies if— immediately before the commencement, a renewal application for a term lease had been made under the renewal provisions but had not been finalised under those provisions; and on the commencement, the term lease does not become a rolling term lease. (sec.521ZM-ssec.2) After the commencement, and before the application is finalised under the renewal provisions, the lessee may advise the chief executive that the lessee wishes the lease to become a rolling term lease. (sec.521ZM-ssec.3) If the lessee advises the chief executive under subsection (2), and the Minister approves the lease as a rolling term lease under section 164(1)(c), the renewal application for the lease is taken to be an extension application for the lease, and must be dealt with under chapter 4, part 3, division 2, subdivision 3. (sec.521ZM-ssec.4) If the lessee does not advise the chief executive under subsection (2), or if the lessee advises the chief executive under subsection (2) but the Minister does not approve the lease as a rolling term lease under section 164(1)(c), the renewal application must be dealt with under this Act as in force immediately before the commencement. - (a) immediately before the commencement, a renewal application for a term lease had been made under the renewal provisions but had not been finalised under those provisions; and - (b) on the commencement, the term lease does not become a rolling term lease.