Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) Subject to this section, the Minister shall require the Valuer-General to re-appraise the unimproved capital value of land that is not situated within the Darwin Town Area or within a municipality and is comprised in a lease granted after the commencement of the Special Purposes Leases Ordinance 1965 during each of the prescribed periods subsequent to the date of the commencement of the lease.
(2) The prescribed periods shall be the period of 12 months commencing on 1 July, 1970 and the subsequent periods of 12 months that shall commence on 1 July in each succeeding twentieth year thereafter.
(3) If, for any reason the unimproved capital value of such land is not re-appraised by the Valuer-General during a prescribed period, the Minister may, at any time after the expiration of the period, require the Valuer-General to re-appraise the unimproved capital value of that land on the basis of the unimproved capital values of comparable lands during that period.
(4) Subject to this section, a re-appraisement of the unimproved capital value of such land shall take effect on 1 July next succeeding the prescribed period and notice of that re-appraisement shall be given in writing by the Minister to the lessee of the land not later than 28 days after that date.
(5) In any case where the Minister has not given to the lessee of such land notice in writing of the re-appraisement of the unimproved capital value of that land within the time prescribed in subsection (4) but has given to that lessee notice in writing of the re-appraisement within 12 months after the prescribed period for that re-appraisement has expired, the re-appraisement shall take effect on 1 July next following the date on which the notice was given to the lessee.
(6) In any case where the Minister has not given to the lessee of such land notice in writing of the re-appraisement of the unimproved capital value of that land within 12 months after the prescribed period for that re-appraisement has expired, the re-appraisement shall not take effect until the date upon which the Minister gives to the lessee notice in writing of the re-appraisement.
(8) The provisions of this section do not apply to or in relation to a lease granted under section 5B after the commencement of the Special Purposes Leases Act (No. 2) 1979 where the payment of rent is not reserved under the lease.