Northern Territory Consolidated Acts Northern Territory Consolidated Acts39. Lease to be granted to company
(1) Subject to subsection (2), but notwithstanding any other provision of this Act, the Land Trust shall grant to Paspaley Pearling Company Pty. Limited a lease for a term of not less than 25 years of the land situated at that part of the area known as East Station Point, Port Bremer which, immediately before the commencement of this Act, was occupied or used by or on behalf of that company, having an area of not more than 50 acres and on which are erected buildings and other improvements, including 2 wharves and a well, being land adjacent to the land registered under the Land Title Act as Northern Territory Portions 1724 and 1725.
(2) If the Land Trust and the company referred to in subsection (1) cannot, within 6 months after the commencement of this Act, agree upon the identity, area or boundaries of the land referred to in that subsection or a term, covenant or condition to which the lease is to be subject, the Chief Justice may determine the identity, area and boundaries of the land and the terms, covenants and conditions to apply and, on the Chief Justice so determining, the lease shall be deemed to have been executed by the Land Trust and the company and have effect accordingly.