30BMeaning of lease transaction

30B Meaning of lease transaction (1) A lease transaction is any one of the following: (a) transfer of a pastoral lease; (b) sublease of all or part of land the subject of a pastoral lease;

Pastoral Land Act 1992 16 (c) transfer a sublease; (d) variation or extension of a sublease; (e) any other transaction that results in a pastoral lessee or sublessee otherwise parting with possession of pastoral land. (2) For this section, where a body corporate is a lessee or sublessee, any change in the following is taken to be a transfer of the lease or sublease: (a) the ability or capacity of one or more persons to control or procure the composition of the board of directors of the lessee or sublessee; (b) the ability or capacity of one or more persons to cast or control, or procure the casting of 15% or more of the maximum number of votes that may be cast at a general meeting of the lessee or sublessee; (c) the holding of legal title to, or of a beneficial interest, direct or indirect, whether by medium of interposed corporations or trusts or otherwise, in 15% or more of the shares in the lessee or sublessee.