65How site fees may be increased

65 How site fees may be increased

65 How site fees may be increased

(1) Site fees payable under a site agreement can be increased only if the increase is made in accordance with this Division.

(2) A site agreement may provide that site fees payable under it may be increased in accordance with either of the following procedures—

(a) at specified intervals (or on specified dates) by a fixed method, which may be either—

(i) by fixed amounts, or

(ii) by a fixed calculation that does not use more than 1 element to calculate the increase,

Examples—

• the increase is calculated using Consumer Price Index rates

• the increase is calculated using the variation in the age pension

(b) by notice (otherwise than by a fixed method).

s 65: Am 2024 No 46, Sch 1[12].