New South Wales Consolidated Acts

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

4F Redetermination of rent following application for redetermination

(1) This section applies in respect of a lease if an application is made under clause 10 of Schedule 5 for a redetermination of the rent of the lease.

(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 rent is to be made, as provided by this section, in respect of each rent review date.

(4) If the application for redetermination was made before 1 July 2004, rent review dates for the lease are as follows:

(a) if the effective date of the last redetermination of the rent 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) If the application for redetermination is made on or after 1 July 2004:

(a) the first rent review date is the first due date in respect of the rent after the application is made, and

(b) thereafter, each third anniversary of the previous rent review date is a rent review date.

(6) 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.

(7) 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.

(8) 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.

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