(1) The term of a
pastoral lease —
(a) must
be specified in the lease; and
(b)
cannot exceed 50 years, including any extension under section 105A(1)(a).
(2) A renewal or grant
of a lease offered under section 140 in relation to a pastoral lease (the
expiring lease ) cannot be for a term greater than the term of the expiring
lease (including any extension granted in relation to the expiring lease under
section 105A(1)(a)).
(3) For the purposes
of subsection (2), if the expiring lease was the lease resulting from an
amalgamation of leases —
(a) the
date of commencement of the amalgamated lease is deemed to be the date of
commencement of the last to commence of the leases that were amalgamated; and
(b) the
expiry date of the amalgamated lease is deemed to be the expiry date of the
first to expire of the leases that were amalgamated, unless the amalgamation
order specifies an earlier expiry date.
[Section 105 amended: No. 4 of 2023 s. 48.]