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LAND ACT 1994 - SECT 256
Effect of prescribed term
256 Effect of prescribed term
(1) This section applies to a relevant interest if it is of a type for which
there is a prescribed term.
(2) The relevant interest is subject to the
prescribed term from— (a) for a relevant interest that is required to be
registered under this Act— (i) if the interest was registered before the
commencement of the prescribed term—the expiry of the transition period for
the prescribed term; or
(ii) otherwise—the registration of the interest; or
(b) for another relevant interest— (i) if the interest was created before
the commencement of the prescribed term—the expiry of the transition period
for the prescribed term; or
(ii) otherwise—the creation of the interest.
(3) The prescribed term binds each person who holds the relevant interest and
each successor in title of the person.
(4) If a term of a tenure document for
the relevant interest, or another document creating the relevant interest, is
inconsistent with the prescribed term, the prescribed term prevails to the
extent of the inconsistency.
(5) This section applies despite any other
provision of this Act, other than section 257 .
(6) In this section—
"transition period" , for a prescribed term, means a period, prescribed by
regulation, starting on the commencement of the prescribed term.
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