366Declared leases

366 Declared leases (1) The Minister and another Minister may together declare a prescribed lease to be a declared lease if satisfied it is in the public interest. (2) In deciding whether it is in the public interest to make a declaration, the Ministers must consider the following: (a) whether making the declaration is likely to encourage development of the land under the declared lease that has a substantial benefit to the public; (b) whether making the declaration would cause any disadvantage to the public taking into account potential uses of the land under the declared lease that are consistent with the territory plan, whether or not those uses are authorised by the lease; (c) whether any development of part of the land under the declared lease is likely to be part of a larger development and, if so, what that development will involve;

Declared subleases of land Part 10.11 (d) whether making the declaration is likely to encourage development of the land under the declared lease that is likely to substantially facilitate the achievement or development of the object of the territory plan as set out in the planning strategy and any relevant district strategy that applies to the land under the declared lease; (e) whether making the declaration raises a major policy issue. (3) A declaration is a notifiable instrument. (4) A declaration— (a) may only be amended or revoked to correct an error and if a declaration is amended, or revoked and a new declaration made, the amendment or new declaration may commence retrospectively; and (b) continues to apply in relation to the lease that was a prescribed lease when the declaration was made even if the lease stops being a prescribed lease. (5) The territory planning authority must give the registrar-general a copy of the declaration. prescribed lease means— (a) a perpetual Crown lease held by the University of Canberra; or (b) a perpetual Crown lease held by the Australian National University prescribed by regulation.

Part 10.12 Leases—building and development provisions