(1) A lessee may apply for the
subdivision of a lease (
"the original lease" ) into 2 or more leases.
(2) An application for
subdivision must--
(a) be in a form approved by the Minister, and
(b) be
lodged with the Minister, and
(c) be accompanied by the processing fee
specified in Schedule 3.
(3) The Minister may grant, or refuse to grant, an
application.
(4) If an application is granted, the terms of the leases that
result from the subdivision are to be the same as the remainder of the term of
the original lease.
(5) The Minister may decide any matters relating to--
(a)
the covenants and conditions of the leases that result from the subdivision,
and
(b) the rent payable for the leases, and
(c) any other matters necessary
for the preparation of the lease documents.
(6) A lessee is entitled to the
leases that result from a subdivision only if the lease document for the
original lease is first lodged with the Minister for replacement.
(7) The
subdivision of 2 or more leases under this clause does not operate to
extinguish any debt to the Crown or Minister relating to the leases concerned,
except to the extent the Minister directs.
(8) If the Minister grants an
application for the subdivision of a lease, the Minister must provide the
lessee with the following documents--
(a) a copy of the plan of the leased
area comprised in each lease,
(b) draft lease documents for each leased area
that are in accordance with Schedule 2, Form 1.
(8A) The subdivision of the
lease does not have effect unless the lessee, within 60 days, or a further
period allowed by the Minister, of being provided by the Minister with the
documents under subclause (8), lodges with the Minister the draft lease
documents signed by the lessee.
(9) The Minister must publish notice of the
subdivision of the lease in the Gazette.
(10) The subdivision of an original
lease into 2 or more leases does not affect the application of section 167 (3)
of the Act to the first renewal of those leases after the grant of the
original lease.
