Victorian Consolidated Legislation

Land Act 1958 - SECT 116

Perpetual lessee may obtain conditional purchase lease

116. Perpetual lessee may obtain conditional purchase lease



(1) Any perpetual lessee of swamp or reclaimed lands may in writing apply at
any time for permission to surrender his lease to Her Majesty.

(2) If the Minister is satisfied that the applicant holds the allotment bona
fide for his sole use and benefit and that such surrender is approved in
writing by any mortgagee of such lease the Governor in Council may if he
thinks fit accept such surrender and on payment of such fee as may be
prescribed by the regulations issue to such applicant a conditional purchase
lease as provided in this Division and every such conditional purchase lease
shall bear the date of the surrendered lease or such subsequent date as the
Governor in Council may direct.

(3) The applicant shall on the issue of the conditional purchase lease to him
be entitled to have all substantial and permanent improvements on such
allotment valued by the Minister and to be credited with such improvements as
if made under and pursuant to the conditions and covenants of the conditional
purchase lease.

(4) The Minister may if he thinks fit direct that the whole or any part of the
rent paid on account of a surrendered perpetual lease shall be credited as
part of the instalments payable under the conditional purchase lease.

(5) The Governor in Council may in the conditional purchase lease make all
necessary adjustments accordingly.



* * * * *