53Surrender of Studio Theatre lease must be approved by both Houses of Parliament

53 Surrender of Studio Theatre lease must be approved by both Houses of Parliament

(1)  The Minister may not surrender a lease held by the Crown in relation to the Studio Theatre lot unless the surrender of the lease has been approved by both Houses of Parliament.

(2)  For the purposes of this section, a House of Parliament is taken to have approved the surrender of a lease referred to in subsection (1) if a copy of the proposed surrender has been laid on the table of that House and –

(a) the proposed surrender is approved by that House; or

(b) at the expiration of 5 sitting-days after the copy of the proposed surrender was laid on the table of that House –

(i) no notice has been given of a motion to disallow the proposed surrender; or

(ii) if such notice has been given, the notice has been withdrawn or the motion has been negatived; or

(c) if a notice of a motion to disallow the proposed surrender has been given but not withdrawn or negatived during that period of 5 sitting-days, the notice is withdrawn or the motion is negatived after the expiration of that period.

(3)  A purported surrender, in contravention of subsection (1) , of a lease in relation to the Studio Theatre lot is void and of no effect.