256Definitions—ch 10

256 Definitions—ch 10 building and development provision, in relation to a lease, means a provision of the lease that requires the lessee to undertake stated works on the land described in the lease or on unleased land. consolidation means the surrender of 2 or more leases held by the same lessee and the grant of a new lease or leases to the lessee to consolidate the parcels of land described in the surrendered leases. lessee means the person who is the proprietor of a lease, whether or not the person is the registered proprietor of the lease, and regardless of how the person became the proprietor of the lease. market value, of a lease, means the amount that could be expected to be paid for the lease on the open market if it were sold by a willing but not anxious seller to a willing but not anxious buyer. provision, of a lease, includes a provision incorporated in the lease by reference and any other provision to which the lease is subject. registered proprietor, in relation to a lease, means the person who is registered under the Land Titles Act 1925 as proprietor of the lease. rental lease means a lease for rent that is more than a nominal rent. residential lease means a lease that authorises only residential use of the land described in the lease. rural lease means a lease granted for a rural purpose or purposes including a rural purpose. single dwelling house lease means a lease granted under section 266 (1) (f).

subdivision— (a) means the surrender of 1 or more leases held by the same lessee, and the grant of new leases to the lessee to subdivide the parcel or parcels of land in the surrendered lease or leases; but (b) does not include the subdivision of land— (i) under the Unit Titles Act 2001; or (ii) by the grant of a sublease. sublease means a sublease of— (a) a parcel of land, or part of a parcel of land, subject to a lease; or (b) a building, or part of a building, on a parcel of land subject to a