sec.240ARegistered interests in rail corridor land

### sec.240A Registered interests in rail corridor land This section applies if— a railway manager’s sublease for a section of rail corridor land— expires; or is surrendered or terminated; and there is a registered interest in the railway manager’s sublease for that section of rail corridor land. After the expiry, surrender or termination, the registered interest in the sublease continues on the same terms as a registered interest in the lease for the section of the non-rail corridor land, with the State as lessee substituted for the railway manager as a party to the registered interest. By definition, rail corridor land becomes non-rail corridor land on expiry, surrender or termination of the sublease. Subsection (2) applies despite the Land Act 1994 , section 372 . s 240A ins 2007 No. 6 s 21 amd 2008 No. 67 s 136 (sec.240A-ssec.1) This section applies if— a railway manager’s sublease for a section of rail corridor land— expires; or is surrendered or terminated; and there is a registered interest in the railway manager’s sublease for that section of rail corridor land. (sec.240A-ssec.2) After the expiry, surrender or termination, the registered interest in the sublease continues on the same terms as a registered interest in the lease for the section of the non-rail corridor land, with the State as lessee substituted for the railway manager as a party to the registered interest. By definition, rail corridor land becomes non-rail corridor land on expiry, surrender or termination of the sublease. (sec.240A-ssec.3) Subsection (2) applies despite the Land Act 1994 , section 372 . - (a) a railway manager’s sublease for a section of rail corridor land— (i) expires; or (ii) is surrendered or terminated; and - (i) expires; or - (ii) is surrendered or terminated; and - (b) there is a registered interest in the railway manager’s sublease for that section of rail corridor land. - (i) expires; or - (ii) is surrendered or terminated; and