55Direct sales of affected leases—Act, s 266 (1) (e)

55 Direct sales of affected leases—Act, s 266 (1) (e) (1) The following leases are prescribed: (a) a lease of land to an eligible former owner of the land; (b) a lease in relation to a surrendered residential block; (c) a lease that was an eligible impacted lease at the time the lease was sold to the Territory. eligible former owner means— (a) a person who— (i) was the lessee of an affected lease or eligible impacted lease; and

(ii) for a lessee of an affected lease— (A) surrendered the affected lease to the Territory under the LAIE buyback program; and (B) in the deed to surrender the affected lease elected to receive a first right of refusal to purchase a new lease of the land; and (iii) for a lessee of an eligible impacted lease— (A) sold the lease to the Territory under the eligible impacted property buyback program; and (C) in the contract for the sale of the eligible impacted lease elected to receive a first right of refusal to purchase a new lease of the land; or (b) if the person mentioned in paragraph (a) dies—a person who would have obtained an interest in the affected lease or eligible impacted lease if the lease had not been surrendered or sold; or (c) if the person mentioned in paragraph (a) is a party to a divorce or the ending of a civil partnership or civil union—a person who would have obtained an interest in the affected lease or eligible impacted lease under a court order if the lease had not been surrendered or sold. eligible impacted lease means a lease of land on which there are improvements including an eligible impacted property. eligible impacted property—see the Civil Law (Sale of Residential Property) Act 2003, section 9A (1). eligible impacted property buyback program—see the Civil Law (Sale of Residential Property) Act 2003, section 9A (1).

Certain direct sales not requiring approval Division 7.4 surrendered residential block means a block— (a) for which a lease has been surrendered under the LAIE buyback program; and (b) that is included as a surrendered block on the affected residential premises register.