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Land Regulation 2020
sec.95Threshold amount owing for subdivision of freeholding lease— Act , s 489
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sec.95 Threshold amount owing for subdivision of freeholding lease— Act , s 489
For section 489 (3) (d) of the Act , the amount prescribed for a freeholding lease is— if the Minister has reduced an instalment for the lease under section 459 (1) of the Act —the minimum instalment payable under the lease; or if the lease (the original lease ) were to be subdivided and each new lease created by the subdivision would be held only by a member of the family of the lessee of the original lease—the minimum instalment payable under the original lease; or otherwise—$6,750.
- (a) if the Minister has reduced an instalment for the lease under section 459 (1) of the Act —the minimum instalment payable under the lease; or
- (b) if the lease (the original lease ) were to be subdivided and each new lease created by the subdivision would be held only by a member of the family of the lessee of the original lease—the minimum instalment payable under the original lease; or
- (c) otherwise—$6,750.