sec.15Value of commercial timber—other land

sec.15 Value of commercial timber—other land

This section does not apply in relation to the lessee or registered owner of land buying a forest entitlement area in the land under section 24 of the Act . The value of commercial timber on land is the market value of any of the timber that is the property of the State, other than timber that is a forest product to which a forest consent agreement relates, worked out as at the day provided for under subsection (3) . The market value of the commercial timber must be worked out— if an appeal about the value of the timber has not been made—as at— if a conversion offer is made under section 165B of the Act —the day stated in the offer; or if a conversion offer is made in relation to a conversion application—the day the chief executive received the application; or if an appeal about the value of the timber has been made—as at the day the appeal is decided; or if a person has applied to buy the timber—as at the day the person applied; or if the Minister made an offer to sell the timber before the day mentioned in paragraph (c) —as at the day the offer was made. For subsection (3) (a) (i) , 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 15 amd 2023 Act No. 2 s 44 (sec.15-ssec.1) This section does not apply in relation to the lessee or registered owner of land buying a forest entitlement area in the land under section 24 of the Act . (sec.15-ssec.2) The value of commercial timber on land is the market value of any of the timber that is the property of the State, other than timber that is a forest product to which a forest consent agreement relates, worked out as at the day provided for under subsection (3) . (sec.15-ssec.3) The market value of the commercial timber must be worked out— if an appeal about the value of the timber has not been made—as at— if a conversion offer is made under section 165B of the Act —the day stated in the offer; or if a conversion offer is made in relation to a conversion application—the day the chief executive received the application; or if an appeal about the value of the timber has been made—as at the day the appeal is decided; or if a person has applied to buy the timber—as at the day the person applied; or if the Minister made an offer to sell the timber before the day mentioned in paragraph (c) —as at the day the offer was made. (sec.15-ssec.4) For subsection (3) (a) (i) , 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 an appeal about the value of the timber has not been made—as at— (i) if a conversion offer is made under section 165B of the Act —the day stated in the offer; or (ii) if a conversion offer is made in relation to a conversion application—the day the chief executive received the application; or