31Duration of site agreement

#### 31 Duration of site agreement 31 Duration of site agreement > > (1) A site agreement may (but need not) provide for its duration to be for a specified fixed period. > > > (2) The parties to a site agreement that specifies a fixed period may (but need not) enter into a new site agreement for a new fixed period, regardless of the terms of the agreement. > > > (3) However, if a site agreement entered into after the commencement of this section specifies a fixed period, the period must exceed the minimum period. > > > (4) A term of a site agreement entered into after the commencement of this section has no effect to the extent that it specifies a period that does not exceed the minimum period. In that case, the agreement is taken to be unlimited as to its duration. > > > (5) A home owner’s right under a site agreement to occupy a residential site continues until the agreement is terminated in accordance with this Act, whether or not a fixed period (if any) has expired, and accordingly all terms of the agreement remain in full force and effect. > > > (6) For the purposes of this section, the minimum period is 3 years or, if another period is specified as the minimum period in the regulations, the period so specified. > > > (7) A regulation that imposes a new minimum period applies to site agreements entered into on or after the commencement of the regulation.