61Surrender of lease for subdivision, &c.

61 Surrender of lease for subdivision, &c. (1) A pastoral lessee may apply to the Minister for approval to subdivide the land the subject of his or her pastoral lease into 2 or more pastoral leases. (2) An application under subsection (1): (a) shall be in writing; and (b) shall be accompanied by a plan showing the manner in which it is proposed to subdivide the land. (3) On receiving an application under subsection (1), the Minister shall Pastoral Land Act 1992 38 (4) The Board shall consider the application and, in particular, shall consider: (a) whether it is desirable that the pastoral lease be subdivided; (b) whether the resultant parts of the proposed subdivision are capable, individually, of supporting sustainable commercial pastoral enterprises; (c) whether the proposed lines of subdivision should be varied; (d) the appropriate terms of the leases for the proposed subdivided portions; (e) what special conditions should be imposed on the leases of the proposed subdivided portions; and (f) such other matters as it thinks fit. (5) The Board may make such recommendations to the Minister as it thinks fit in relation to an application under this section. (6) The Minister may, after considering the recommendations of the (a) approve the application as submitted by the pastoral lessee or as varied by the Minister; or (b) refuse the application. (7) The Minister shall, by notice in writing, notify the applicant pastoral lessee of the Minister's decision and, if the Minister has approved the application or the application as varied by the Minister, the Minister shall specify in the notice: (a) the reservations, conditions and provisions to be included in each lease of the land if it is subdivided; and (b) in respect of each of the portions into which the land is to be subdivided: (i) the lease grant charges, if any, for the lease; (ii) the fees and deposits to be paid by the lessee in respect of the grant of the lease; and (iii) the current rent. (8) The pastoral lessee may, if he or she: (a) has paid all rent due and payable under the lease; Pastoral Land Act 1992 39 (b) accepts the reservations, conditions and provisions specified in the notice under subsection (7); and (c) has paid the lease grant charges, fees and deposits specified in the notice, surrender his or her pastoral lease and subject to Division 4, is to be granted a new pastoral lease for each of the subdivided portions of the land. (9) A surrender of a pastoral lease: (a) shall be made within 3 months after the date of the notice of the approval of the subdivision; and (b) has effect on the date of commencement of the new leases. (10) A new pastoral lease granted under this section shall: (a) preserve the lessee's rights, if any, in respect of improvements on land the subject of the new lease; (b) be for such period (or in perpetuity) as the Minister thinks fit; and (c) in addition to the matters provided for elsewhere in this Act, contain the reservations, conditions and provisions which are specified in the notice under subsection (7).