New South Wales Consolidated Acts

IRRIGATION AREAS (REDUCTION OF RENTS) ACT 1974 - SECT 6

6 Amount of reduction: rents reduces under the 1955 Act

(1) In this section, "prescribed percentage", in relation to an application for the reduction of the rent payable for the whole or a part of a year in respect of a lease to which section 20 of the 1955 Act applies as at the relevant date, means:

(a) except as provided in paragraph (b)-27½%, or

(b) where a regulation made for the purposes of paragraph (b) of the definition of "prescribed percentage" in section 5 (1) prescribes some other percentage in relation to that year-the percentage obtained in accordance with the following formula:

"a" is the percentage to be obtained, and
"b" is the percentage prescribed by that regulation, or 22½%, whichever is the greater).

(2) The amount by which rent payable in respect of a lease to which section 20 of the 1955 Act applies as at the relevant date is required to be reduced by section 4 is:

(a) where, as at the relevant date, the applicant is the sole holder of the lease or holds the lease with one or more jointly eligible occupiers but with no other person-the prescribed percentage of the rent that would have been payable as at the relevant date if section 20 of the 1955 Act had not been enacted, or

(b) where, as at the relevant date, the applicant holds the lease with one other person who is not a jointly eligible occupier, or with two or more other persons, any of whom is not a jointly eligible occupier-an amount that bears to the prescribed percentage of the rent that would have been payable as at the relevant date if section 20 of the 1955 Act had not been enacted the same proportion as the interests (as between themselves) of the applicant and any jointly eligible occupiers in the lease bear, as at the relevant date, to the interests (as between themselves) of all the lessees in the lease.

(3) The reduction required to be made by section 4 in the rent payable in respect of a lease to which section 20 of the 1955 Act applies is in addition to that prescribed by section 20 of that Act.

(4) Section 20 (4) of the 1955 Act does not apply in relation to the reduction required to be made by section 4 in the rent payable in respect of a lease to which section 20 of that Act applies.