88DLand subleases—transfers

88D Land subleases—transfers (1) The registrar-general must not register a memorandum of transfer of a land sublease unless— (a) the sublessor consents, in writing, to the transfer; and (b) the registrar-general tells the territory planning authority, in writing, about the transfer. (2) For subsection (1) (a)— (a) the sublessee must request the sublessor’s consent in writing; and (b) within 10 working days after receiving the request, or any longer period agreed by the sublessee and sublessor, the sublessor may, in writing, ask the sublessee to give the sublessor information about the following: (i) the proposed transferee’s financial standing, including details of any approved finance of the proposed transferee; (ii) the proposed use of the land under the sublease by the proposed transferee; (iii) the proposed transferee’s ability to comply with the conditions of the sublease; and (c) if the sublessor has mortgaged the land under the Crown lease and the consent of the sublessor’s mortgagee is required under the mortgage to the transfer of a sublease of the land— (i) the sublessor must— (A) tell the sublessor’s mortgagee that the request by the sublessee has been made and of the terms of the request; and (B) if asked by the mortgagee—ask the sublessee for the information mentioned in paragraph (b) and give the information to the mortgagee; and (ii) the sublessor’s mortgagee must consent or refuse consent (including reasons for the refusal), in writing, to the sublessor and the sublessee within 10 working days after— (A) being told about the sublessee’s request; or (B) if the mortgagee asks for information under paragraph (c) (i) (B)—receiving the information; and (iii) the sublessor must consent or refuse consent (including reasons for the refusal), in writing, to the sublessee; and (d) if paragraph (c) does not apply—the sublessor must consent or refuse consent (including reasons for the refusal), in writing, within 10 working days after— (i) receiving the sublessee’s request; or (ii) if the sublessor asks for information under paragraph (b)— receiving the information; and (e) the sublessee is responsible for the reasonable costs of the sublessor, and the sublessee’s mortgagee, in making a decision about whether to consent to the transfer of the sublease (not including any costs incurred in relation to an order under subsection (3) (c) (ii)). Note If no time is provided for doing a thing under this subsection, the thing must be done as soon as possible (see Legislation Act, s 151B). (3) For subsection (2) (c) and (d)— (a) a person to whom a request for consent is made (the request receiver) is taken to have consented to the proposed transfer if the request receiver does not consent or refuse consent within the relevant period mentioned in subsection (2) (c) (ii) and (d); and (b) a request receiver may only refuse consent if the request receiver has reasonable grounds for believing— (i) the proposed transferee is not financially sound; or (ii) the proposed transferee intends to use the land under the sublease for a purpose not allowed under the sublease; or (iii) the proposed transferee cannot otherwise comply with the conditions of the sublease; or (iv) the proposed transferee, or the use of the land under the sublease, will not be compatible with other sublessees under the Crown lease; or (v) the sublessee is in breach of the sublease; and (c) if a request receiver refuses consent— (i) the sublessee may apply to the Magistrates Court for an order that the request receiver has refused consent otherwise than in accordance with this section; and (ii) if the Magistrates Court is satisfied the request receiver has refused consent otherwise than in accordance with this section, the Court must order— (A) that the request receiver is taken to have consented to the request; and (B) the person in possession of the Crown lease for the land to which the sublease relates to present the lease to the registrar-general to allow registration of the transfer of the sublease. mortgage includes an encumbrance. mortgagee includes an encumbrancee.