New South Wales Consolidated Acts

WESTERN LANDS ACT 1901 - SECT 27B

27B Annual rent

(1) Annual rent is to be calculated for an urban lease as follows:

"LV" represents the land value (within the meaning of the Valuation of Land Act 1916 ) of the land comprised in the urban lease.
"p" represents a percentage prescribed by the regulations with respect to the class of land to which the urban lease belongs.

(2) If the regulations prescribe a minimum annual rent that is greater than the rent so calculated, the annual rent is the minimum rent so prescribed.

(3) The regulations may prescribe different classes of urban lease for the purposes of this section and different percentages in relation to each class of urban lease so prescribed.