Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) If, immediately before the registration of a units plan, the lessee of the parcel (the former lessee ) held the lease as trustee, on registration of the units plan the former lessee holds the leases of the units in trust for the people for whom, and the purposes for which, the lease of the parcel was held.
(2) If, immediately before the registration of a cancellation authority or cancellation order, a unit owner (the former owner ) held the lease of the unit as trustee, on registration of the authority or order the former owner holds the share of the estate (or the entire estate) held under the Unit Titles Act 2001 , section 163 (1) (a) (Cancellation of units plan—new lease over parcel) in trust for the people for whom, and the purposes for which, the lease of the unit was held.