Sydney Market Authority (Dissolution) Act 1997
10Lease of Flemington site to approved purchaser
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10 Lease of Flemington site to approved purchaser
10 Lease of Flemington site to approved purchaser
(1) A lease of all or any part of the Flemington site (a head lease) may be granted to the approved purchaser on or after the sale date.
(2) On the granting of a head lease, the following provisions have effect with respect to all existing leases over the land the subject of the head lease:
(a) the lease is taken to be varied by substituting the name of the approved purchaser for that of the lessor,
(b) the lease is taken to become a sublease of the head lease,
(c) except as otherwise provided by the regulations, the lease continues to have effect according to its tenor,
(d) any proceedings under the lease in relation to any matter arising before the head lease was granted are to be commenced or maintained by or against the lessor, or the lessor’s successor in title to the land, as if the lease had not been varied as referred to in paragraph (a).