EDUCATION AND TRAINING REFORM ACT 2006 - SECT 5.7A.10 Rent to be determined on basis of valuation of land

EDUCATION AND TRAINING REFORM ACT 2006 - SECT 5.7A.10

Rent on a lease of land granted under this Subdivision must—

        (a)     be determined on the basis of a valuation of the land by the valuer-general; and

        (b)     be reviewed according to whichever of the following methods of review is provided for by the lease—

              (i)     at the end of every third year on the basis of a further valuation of the land by the valuer-general; or

S. 5.7A.10

(b)(ii) substituted by No. 44/2014 s. 33(Sch. item 8), amended by No. 37/2015 s. 27.

              (ii)     at the end of each year of the lease by the application of the all groups consumer price index for Melbourne in original terms last published by the Australian Bureau of Statistics in that year.

S. 5.7A.11 inserted by No. 28/2010 s. 17.