273Failure to accept and execute lease

273 Failure to accept and execute lease (1) This section applies if, not later than the end of the period prescribed by regulation, a person who is entitled to the grant of a lease under this chapter fails to— (a) accept and execute the lease; or (b) pay any amount the person is required to pay before being granted the lease. (2) The territory planning authority may, by written notice to the person, end the person’s right to be granted the lease. (3) A notice under subsection (2) must— (a) state the ground on which it is given; and (b) state that it takes effect on the day 20 working days after the day it is given. (4) If the territory planning authority does not know the home address of the person to whom the notice under subsection (2) is to be given, the authority may give public notice of the notice. (5) A notice given under subsection (2) takes effect on the day 20 working days after the day it is given. (6) A person whose right to be granted a lease has been ended under this section does not have any claim for compensation in relation to the ending of the right or for the recovery of any money paid to the territory planning authority in relation to the grant of the lease.