359Land declared available for further lease

359 Land declared available for further lease (a) the territory planning authority must pay a lessee an amount under section 358; and (b) before the expiry of the term of the lease, the territory planning authority declares that the land described in the lease, or part of the land, is available for a further lease; and (c) the lessee does not elect to take a further lease of the declared land within 6 months after the expiry of the term of the lease. (2) The amount of any expenditure reasonably incurred by the Territory, the territory planning authority or both, in relation to the grant of a lease of the land, or part of the land, to anyone else must be deducted from the amount payable to the lessee under section 358.