79Increase of lease variation charge for concessional

79 Increase of lease variation charge for concessional leases—Act, s 339 (1) (1) The variation of a concessional lease is prescribed if— (a) the variation is for a use other than a community lease use; or (b) the lease was not granted to the housing commissioner for a term beginning before 17 December 1987; or (c) if the lease as varied is a consolidated or subdivided concessional lease— (i) the lease is a recently commenced lease; and (ii) the amount payable under section 80 in relation to the variation is less than the amount payable under this section for the variation.

(2) The lease variation charge for the variation must be increased by an amount equal to 25% of the added value for the variation. consolidated or subdivided concessional lease—see the Act, section 258 (4). Note See the Act, s 339 (2) for when this section commences.