Australian Capital Territory Consolidated Acts

PLANNING AND DEVELOPMENT ACT 2007 - SECT 235

    (1)     In this Act:

"concessional lease"—

        (a)     means a lease granted for a consideration less than the full market value of the lease, or for no consideration, if neither of the following payments has been made to the Territory:

              (i)     an amount in relation to the grant of the lease that is equal to the lease's market value at the time of payment or, if the amount is paid in parts, at the time of the last payment;

              (ii)     an amount to reduce the rent payable under the lease to a nominal rent under section 273 (Variation of lease to pay out rent); and

        (b)     includes the following leases:

              (i)     a consolidated or subdivided concessional lease;

              (ii)     a further concessional lease;

              (iii)     a regranted concessional lease; but

        (c)     does not include—

              (i)     a consolidated or subdivided lease or a further or regranted lease, other than a lease mentioned in paragraph (b); or

              (ii)     a rural lease; or

              (iii)     a lease over land that, immediately before the grant of the lease, was owned, controlled or held by the housing commissioner under the Housing Assistance Act 2007 ; or

              (iv)     a lease granted to the Territory; or

              (v)     a lease prescribed by regulation.

"lease" means a lease (other than a sublease) of territory land—

        (a)     granted under this Act; or

        (b)     granted or arising under the Unit Titles Act 2001 .

Note     Some leases are taken to have been granted under this Act and so come within this definition of lease (see s 456).

    (2)     For subsection (1), definition of "concessional lease", paragraph (a), it does not matter whether the consideration for the grant of the lease was paid as a lump sum or is payable under the lease as rent.

    (3)     In this section:

"consolidated or subdivided concessional lease" means a lease granted during a consolidation or subdivision involving the surrender of 1 or more previous leases if 1 or more of the previous leases was a concessional lease.

"further concessional lease" means a further lease if the surrendered lease was a concessional lease.

"regranted concessional lease" means a regranted lease (whether the regrant is on the same or different conditions) if the surrendered lease was a concessional lease.