Sydney Market Authority (Dissolution) Act 1997
11Effect of expiry of head lease on statutory subleases
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11 Effect of expiry of head lease on statutory subleases
11 Effect of expiry of head lease on statutory subleases
If a head lease ceases to have effect (whether by reason of expiry, surrender, termination, forfeiture or otherwise) the following provisions have effect with respect to any statutory sublease of the head lease:
(a) the sublease is taken to be varied by substituting the title of the Ministerial Holding Corporation for the name of the head lessee for the time being,
(b) the sublease is taken to cease to be a statutory sublease and to become a lease granted by the Ministerial Holding Corporation,
(c) the sublease continues to have effect, as a lease, according to its tenor,
(d) any proceedings under the sublease in relation to any matter arising before the head lease ceased to have effect are to be commenced or maintained against the head lessee for the time being as if the lease had not been varied as referred to in paragraph (a).