sec.10Net present value

sec.10 Net present value

For section 9 (3) (a) , the net present value of land is the amount worked out using the following formula— where— A is the annual rent for the lease of the land worked out by multiplying the unimproved value of the lease land by the percentage rate for the lease as stated in section 35 . i is .0975. g is .025. For land the subject of a conversion offer, the net present value must be worked out as at— if the offer is made under section 165B of the Act —the day stated in the offer; or if the offer is made in relation to a conversion application—the day the chief executive received the application. For subsection (2) (a) , the day stated in the offer may be earlier than the day the chief executive makes the offer, but no earlier than 4 months before the day the chief executive makes the offer. s 10 amd 2021 SL No. 48 s 16 ; 2022 SL No. 84 s 4 ; 2023 Act No. 2 s 42 ; 2025 SL No. 58 s 4 (sec.10-ssec.1) For section 9 (3) (a) , the net present value of land is the amount worked out using the following formula— where— A is the annual rent for the lease of the land worked out by multiplying the unimproved value of the lease land by the percentage rate for the lease as stated in section 35 . i is .0975. g is .025. (sec.10-ssec.2) For land the subject of a conversion offer, the net present value must be worked out as at— if the offer is made under section 165B of the Act —the day stated in the offer; or if the offer is made in relation to a conversion application—the day the chief executive received the application. (sec.10-ssec.3) For subsection (2) (a) , the day stated in the offer may be earlier than the day the chief executive makes the offer, but no earlier than 4 months before the day the chief executive makes the offer.

• (a) if the offer is made under section 165B of the Act —the day stated in the offer; or
• (b) if the offer is made in relation to a conversion application—the day the chief executive received the application.