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LAND ACT 1994 - SECT 240I
Sale of lease
240I Sale of lease
(1) This section applies if a relevant local government has been given notice
under section 240H .
(2) Subject to subsections (3) to (5) , the
Local Government Act 2009 , to the extent that Act provides for the sale of
land to recover overdue rates and charges relating to the land, applies to the
sale of a lease under this subdivision.
(3) The local government must start
the process of selling a lease under this subdivision within the required
period stated in the notice under section 240H (2) .
(4) The local government
must set a reserve price for the sale of the lease by auction, or a price for
the sale of the lease under an agreement, that is at least the total of all
charges owing to the State under this Act relating to the lease.
(5) The
local government must use the proceeds of the sale of the lease to pay the
State the amount of all charges owing to the State under this Act relating to
the lease before using the proceeds to pay any amount owing to the local
government.
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