39BCorporation or Minister may enter into covenants and agreements affecting site

39B Corporation or Minister may enter into covenants and agreements affecting site

[Section 39B of Part 5 Inserted by No. 45 of 2015, s. 7, Applied:27 Nov 2015]

(1)  The Corporation or the Minister may enter into, with the purchaser or registered proprietor of land that is a part of the site, a positive or negative covenant, or both, relating to the land.

(2)  [Section 39B Subsection (2) amended by No. 35 of 2018, s. 15, Applied:17 Dec 2018] The Corporation or the Minister may enter into, with the purchaser or registered proprietor of land that is a part of the site, an agreement concerning the use or redevelopment, or both, of the land*.*

(3)  The Corporation or the Minister, in writing, may direct the Recorder of Titles to record, on the folio of the Register for the land that is the subject of the covenant or agreement, a covenant or agreement entered into under this section by the Corporation, or the Minister, respectively.

(4)  On receiving a direction under subsection (3) in relation to a covenant or agreement, the Recorder of Titles is to record, as he or she considers appropriate, the covenant or agreement on the relevant folio of the Register for the land that is the subject of the covenant or agreement.

(5)  The benefits and burdens of a covenant or agreement entered into under this section run with the land that is the subject of the covenant or agreement, and the covenant or agreement is enforceable between the parties to it and any person deriving title to the land under any such party.