11Meaning of “transferee”

11 Meaning of “transferee”

11 Meaning of “transferee”

(1) In this Act—

transferee means a person who will be the owner of land as a result of a transfer of—

(a) for an exclusive land use entitlement—the interest that gives the entitlement, or

(b) for land leased from the Crown in perpetuity by a person other than the Crown—the lease, or

(c) otherwise—the fee simple in the land.

(2) In this Act, for transferred land that will be subject to an approved trust—

(a) a reference to the transferee is taken to be a reference to the beneficiary under the approved trust, and

(b) the actual transferee is referred to as the trustee transferee.