7Variation of leases

7 Variation of leases

(1)  The holder of a lease issued under the former Act and in force as a lease by virtue of section 5 (2) of this Act may apply to the Minister to vary the lease area at any time within 12 months of the Marine Farming commencement day.

(2)  The Minister may vary a lease area to include a greater area only if –

(a) the proposed total lease area is –

(i) no more than 110% of the original lease area; and

(ii) in a position not significantly different to that indicated in the lease; and

(iii) within a marine farming zone as defined by the Marine Farming Planning Act 1995 ; and

(b) [Section 7 Subsection (2) amended by No. 102 of 2001, Sched. 2, Applied:28 Jun 2002] the lessee agrees to pay any amount equivalent to the market value of the additional area as assessed under the Valuation of Land Act 2001 .

(3)  If the Minister varies a lease area, the Minister may impose new conditions or amend any existing condition of the lease.

(4)  The Minister may vary a lease area by issuing a new lease only if –

(a) the proposed area is greater than 110% of the original area; and

(b) in the opinion of the Minster –

(i) it would not have a detrimental effect on another lessee; or

(ii) there is not a good reason for refusing to vary the lease area; and

(c) the lessee agrees to –

(i) accept any conditions the Minister determines; and

(ii) pay any prescribed charges or prescribed fees; and

(iii) pay any amount equivalent to the market value of the additional area as assessed under the .