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LAND ADMINISTRATION ACT 1997 - SECT 136

LAND ADMINISTRATION ACT 1997 - SECT 136

136 .         Maximum area of leased land a person may hold

        (1)         The Minister must not —

            (a)         approve the grant of a pastoral lease to a person; or

            (b)         approve the transfer to the person of any interest in a pastoral lease,

                if the result of the grant or transfer would be that the pastoral land imputed to the person under this section would exceed 500 000 hectares, unless the Minister is satisfied that the transfer would not result in so great a concentration of control of pastoral land as to be against the public interest.

        (2)         For the purposes of this section, pastoral land is imputed to persons as follows —

            (a)         if a person is sole lessee of a pastoral lease — the area of land under the lease is imputed to the person;

            (b)         if several persons are joint tenants of a pastoral lease —the whole area of the land under the lease is imputed to each of them;

            (c)         if several persons are tenants in common of a pastoral lease — the area of land under the lease is imputed to them in proportion to their respective shares in the lease;

            (d)         if a pastoral lessee is a company — the area of land imputed to it under paragraph (a) or (c) is also imputed to the shareholders in the proportion to the voting rights represented by their shareholdings.

        (3)         For the purposes of subsection (2)(d), each person who, either alone or together with other persons, is entitled (other than as trustee for, on behalf of or on account of, another person) to receive, directly or indirectly, any dividends in respect of the share or to exercise, or to control the exercise of, any rights attaching to a share is deemed to hold that share.