New South Wales Consolidated Acts

CROWN LANDS (CONTINUED TENURES) ACT 1989 - SECT 4E

4E Redetermination of rents

(1) This section applies from 1 July 2004 in respect of a lease the rent of which was, immediately before 1 July 2004, subject to redetermination by the Minister under this Act, except the following leases:

(a) a lease in respect of which the rent may be redetermined by the Minister at any time,

(b) a lease in respect of which the rent may be redetermined by the Minister at intervals of less than 3 years.

Note: The leases to which this section applies are more fully described in clauses 6, 8 and 9 of Schedule 5. Before 1 July 2004, the rents of the leases to which this section applies were redetermined at the intervals set out in those clauses.
In addition, this section applies to Commonwealth leases that were subject to redetermination before 1 July 2004.

(2) The Minister is to redetermine the rent payable in respect of a lease to which this section applies as provided by this section.

(3) A redetermination of the rent of a lease is to be made in respect of each rent review date.

(4) The rent review dates in respect of a lease are as follows:

(a) if the effective date of the last redetermination of the rent of the lease was not more than 3 years before 1 July 2004:

(i) the first rent review date is the first due date in respect of the rent occurring on or after 1 July 2004 that is not less than 3 years after the effective date of that redetermination, or such later due date as may be determined by the Minister, and

(ii) thereafter, rent review dates fall on the third anniversary of the previous rent review date,

(b) if paragraph (a) does not apply:

(i) the first rent review date is the first due date in respect of the rent occurring on or after 1 July 2004, or such later due date as may be determined by the Minister, and

(ii) thereafter, rent review dates fall on the third anniversary of the previous rent review date.

(5) A redetermination of rent in respect of the first rent review date for a lease under this section:

(a) may be made at any time before the first rent review date or within 6 months after the first rent review date, and, if so made, takes effect on the first rent review date, and

(b) may be made more than 6 months after the first rent review date but, if so made, takes effect from the date of the redetermination.

(6) A redetermination of rent in respect of any other rent review date for a lease under this section:

(a) may be made within 6 months before or after a rent review date and, if so made, takes effect on the rent review date, and

(b) may be made more than 6 months after a rent review date but, if so made, takes effect from the date of the redetermination.

(7) Any redetermination of rent or adjustment of rent following a redetermination does not become due and payable, for the purpose of calculating interest, until the date notified to the holder of the lease by the Minister as being the due date in respect of the rent or adjustment.

(8) For avoidance of doubt, this section does not affect the operation of clauses 11 and 12 of Schedule 5.