sec.75Terminating trust land and granting freehold interest

### sec.75 Terminating trust land and granting freehold interest This section applies if— a transferred asset is attached to land that is trust land under the Land Act ; and the Land Act Minister is satisfied the part of the land on which the transferred asset is situated is of adequate area to be allocated as freehold land, having regard to the location of the transferred asset and the use made of the adjoining land. The Land Act Minister may under that Act, on application to the Land Act chief executive by the distributor-retailer to whom the transferred asset was transferred— if the land is a reserve—revoke all or part of the reserve; or if the land is a deed of grant in trust—require the trustee to surrender all or part of the deed of grant in trust. If the Land Act Minister acts under subsection (2) , the Governor in Council may under the Land Act , issue a deed of grant for the land to the distributor-retailer. For the purposes of the Land Act , chapter 4 , part 1 , division 2 , freehold title may be granted without competition. An evaluation under the Land Act , section 16 is not required for the allocation of the land. The Land Act Minister must decide the purchase price for the land. Before approving a plan of subdivision identifying the area of the revocation, the Land Act Minister may require the distributor-retailer and the trustee of the reserve to agree to a plan of subdivision to define the boundaries of the land. The following provisions of the Land Act do not apply to a revocation of all or part of a reserve— sections 34A , 34B and 34E ; section 34H relating to an improvement that is a transferred asset. In this section— transferred asset means an asset transferred under a transfer scheme or transfer notice without the transfer of land to which the asset is attached or a change in the trusteeship. (sec.75-ssec.1) This section applies if— a transferred asset is attached to land that is trust land under the Land Act ; and the Land Act Minister is satisfied the part of the land on which the transferred asset is situated is of adequate area to be allocated as freehold land, having regard to the location of the transferred asset and the use made of the adjoining land. (sec.75-ssec.2) The Land Act Minister may under that Act, on application to the Land Act chief executive by the distributor-retailer to whom the transferred asset was transferred— if the land is a reserve—revoke all or part of the reserve; or if the land is a deed of grant in trust—require the trustee to surrender all or part of the deed of grant in trust. (sec.75-ssec.3) If the Land Act Minister acts under subsection (2) , the Governor in Council may under the Land Act , issue a deed of grant for the land to the distributor-retailer. (sec.75-ssec.4) For the purposes of the Land Act , chapter 4 , part 1 , division 2 , freehold title may be granted without competition. (sec.75-ssec.5) An evaluation under the Land Act , section 16 is not required for the allocation of the land. (sec.75-ssec.6) The Land Act Minister must decide the purchase price for the land. (sec.75-ssec.7) Before approving a plan of subdivision identifying the area of the revocation, the Land Act Minister may require the distributor-retailer and the trustee of the reserve to agree to a plan of subdivision to define the boundaries of the land. (sec.75-ssec.8) The following provisions of the Land Act do not apply to a revocation of all or part of a reserve— sections 34A , 34B and 34E ; section 34H relating to an improvement that is a transferred asset. (sec.75-ssec.9) In this section— transferred asset means an asset transferred under a transfer scheme or transfer notice without the transfer of land to which the asset is attached or a change in the trusteeship. - (a) a transferred asset is attached to land that is trust land under the Land Act ; and - (b) the Land Act Minister is satisfied the part of the land on which the transferred asset is situated is of adequate area to be allocated as freehold land, having regard to the location of the transferred asset and the use made of the adjoining land. - (a) if the land is a reserve—revoke all or part of the reserve; or - (b) if the land is a deed of grant in trust—require the trustee to surrender all or part of the deed of grant in trust. - (a) sections 34A , 34B and 34E ; - (b) section 34H relating to an improvement that is a transferred asset.