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LAND ACT 1994 - SECT 240K
Notice that chief executive may sell
240K Notice that chief executive may sell
(1) The chief executive must give notice to each person who has a registered
interest in the lease land that the chief executive is allowed to sell the
lease under this subdivision.
(2) The notice must state either— (a) that
the chief executive proposes to enter into possession of the lease and sell
the lease under this subdivision; or
(b) that the chief executive proposes
that the lessee and the chief executive enter into an agreement (a
"transition to sale agreement" ) that will apply until the lease is sold under
this subdivision.
(3) The notice must advise the matters mentioned in— (a)
if the notice states the matter mentioned in subsection (2) (a) †” section
240L ; or
(b) otherwise†” sections 240L , 240M and 240N .
(4) If the
notice states that the chief executive proposes that the lessee and the chief
executive enter into a transition to sale agreement, the notice must require
the lessee to advise the chief executive, within the time stated in the
notice, of whether the lessee wishes to enter into a
transition to sale agreement.
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