21Rent for occupancy of Crown Land

21 Rent for occupancy of Crown Land

(1) For the purposes of section 160(3) of the Act, the amount of rent payable is the current market value for occupying the land, having regard to the use of the land permitted by the authority, as determined by a valuer nominated by the valuer-general.

(2) The holder of the authority is liable for the costs incurred in obtaining the determination.

(3) The rent must be reviewed by a valuer nominated by the valuer-general at intervals not exceeding 3 years but not less than one year.

(4) Rent must be paid for each period of 6 months ending on 30 June and 31 December in each year and must be paid within 10 days of the commencement of the period for which the rent is payable.

(5) In this regulation—

valuer-general means the valuer-general referred to in section 3(1) of the Valuation of Land Act 1960.