45Term of assessment lease

45 Term of assessment lease

45 Term of assessment lease

An assessment lease—

(a) takes effect on the date on which it is granted or on such later date, or on the occurrence of such later event, as the decision-maker may determine, and

(b) ceases to have effect on the expiration of—

(i) 2 years after the date on which it took effect, in the case of an assessment (mineral owner) lease, or

(ii) such period (not exceeding 6 years) as the decision-maker determines, in the case of any other assessment lease.

s 45: Subst 2008 No 19, Sch 1 [40]. Am 2015 No 40, Sch 1 [24].