New South Wales Consolidated Acts

HAY IRRIGATION ACT 1902 - SECT 18A

18A Minimum rent

(1) The annual rent of a lease of any land vested in the Ministerial Corporation by this Act is not in any case to be less than the minimum rent as at the date the rent is due and payable.

(2) If the annual rent of a lease on a due date is less than the minimum rent as at that due date, the annual rent is increased to the minimum rent.

(3) The minimum rent of the lease is to be calculated in accordance with Division 2A of Part 7 of the Crown Lands Act 1989 , as if the lease were a holding under that Act.

(4) This section has effect despite any condition to which a lease is subject.

Note: As at 1 July 2004, the minimum rent under Division 2A of Part 7 of the Crown Lands Act 1989 is $350. That amount is subject to CPI adjustment under that Act and may also be increased by the regulations under that Act. See also the Fourth Schedule to this Act, which provides for the phasing-in of minimum rents.