54AReview of estimated carrying capacity

54A Review of estimated carrying capacity (1) The Agency may review the estimated carrying capacity of pastoral land at any time. (2) A pastoral lessee may apply to the Agency to request a review of the estimated carrying capacity of the pastoral lessee's pastoral land at any time. (3) As soon as practicable after receiving an application under subsection (2), the Agency must: (a) review the determination of estimated carrying capacity; or (b) refuse to review the determination. (4) If, after a review, the Agency considers the existing determination is no longer accurate, the Agency must make a new determination under section 54. (5) If the Agency refuses to conduct a review, the Agency must provide written notice of the refusal and the reasons for the refusal to the pastoral lessee. 55 Rent (1) Despite anything in a pastoral lease document, the rent payable for a financial year in respect of a pastoral lease is to be calculated using the formula: PLR = ECC x PLRF where: PLR = the annual pastoral lease rent in dollars Pastoral Land Act 1992 36 ECC = the estimated carrying capacity expressed in animal equivalents as determined by the Agency under section 54 PLRF = the pastoral lease rent factor declared under subsection (2) or (3) (2) The Minister may, before 30 June in a financial year, by Gazette notice, declare the pastoral lease rent factor for a District for the following financial year. (3) If the Minister does not declare the pastoral lease rent factor for a District under subsection (2) before 30 June in a financial year, the pastoral lease rent factor for the following financial year remains unchanged.