326No variation of certain leases for 5 years

326 No variation of certain leases for 5 years (1) This section applies to the following leases: (a) a lease granted in accordance with section 267 (Direct sale if single person in restricted class); (b) a lease to which section 280 (Restriction on transfer, assignment and parting with possession) applies. (2) However, this section does not apply to a lease exempted by (3) The territory planning authority must not approve a variation of the lease earlier than 5 years after the day the lease is granted. (4) However, the territory planning authority may approve a variation of the lease if it does not limit, add or remove an authorised use of the land described in the lease. authorised use, of land— (a) means a use authorised (whether expressly or by implication) by a lease; and

6 months before the use if the lease is renewed within 6 months after the expiry. Note This division is a tax law under the Taxation Administration Act 1999. As a tax law, this division is subject to provisions of that Act about the administration and enforcement of tax laws generally.