(1) With the
Minister’s approval in writing, but not otherwise, a pastoral lessee may
—
(a)
transfer to another person; or
(b)
create a mortgage or charge over,
the lessee’s
interest in the pastoral lease, or any part of that interest, including any
sublease, licence or profit à prendre.
(2) If the interest of
a pastoral lessee is transferred by operation of law to the lessee’s
legal representative, executor or administrator or trustee in bankruptcy or,
in the case of a company, a liquidator, administrator, receiver,
receiver-manager or manager of the company, subsection (1) applies to that
person as if that person were the pastoral lessee.
(3) The Minister must
not unreasonably refuse to approve a transfer or mortgage or charge.
(4) If a transfer
would result in the effective division of the land under the lease into parts
with different occupiers, the Minister must not approve the transfer unless
the Board is satisfied that —
(a) each
part will be capable, when fully developed, of carrying sufficient authorised
stock to enable it to be worked as an economically viable and ecologically
sustainable pastoral business unit; or
(b) if a
part is not so capable — the lease will be divided and that part
amalgamated with the land of an adjoining pastoral lease; or
(c) if a
part is not so capable — the lease will be divided and that part,
together with an adjoining pastoral lease or part of an adjoining pastoral
lease, will become a pastoral business unit under section 142A, the creation
of which has been approved under that section.
(4a) If a division of
a lease takes place under subsection (4)(a) —
(a)
subject to subsection (8), each part of the land under the lease that was
divided is to be held on the same conditions, including the term of the lease,
as it was held before the division; and
(b) the
provisions of this Act continue to apply in relation to each part of the land
under the lease that was divided, as if the land in each part subsists in the
lease and the lease is a lease solely of that land; and
(c)
without limiting paragraph (b), section 143(6) to (6i) apply in relation to
each part of the land under the lease that was divided, as if the land in each
part subsists in the lease and the lease is a lease solely of that land.
(4b) If a division of
a lease takes place under subsection (4)(c) —
(a)
subject to subsection (8), the land remaining in the lease that was divided
and any land in the lease that was divided and included in a pastoral business
unit under section 142A are to be held on the same conditions, including the
term of the lease, as the land was held before the division; and
(b) the
provisions of this Act continue to apply —
(i)
in relation to the land remaining in the lease that was
divided, as if that land subsists in the lease and the lease is a lease solely
of that land; and
(ii)
in relation to any land in the lease that was divided and
included in a pastoral business unit under section 142A, as if the land
subsists in the lease and the lease is a lease solely of that land;
and
(c)
without limiting paragraph (b), section 143(6) to (6i) apply —
(i)
in relation to the land remaining in the lease that was
divided, as if that land subsists in the lease and the lease is a lease solely
of that land; and
(ii)
in relation to any land in the lease that was divided and
included in a pastoral business unit under section 142A, as if the land
subsists in the lease and the lease is a lease solely of that land.
(5) The Minister may
refuse to approve a transfer until the return under section 113 relating to
the previous 30 June has been submitted.
(6) For the purpose of
deciding whether to approve a transfer of or mortgage or charge over an
interest in a pastoral lease, the Minister may require any lessee, or if a
lessee is a company, any director, shareholder or officer of the company, to
make one or more statutory declarations containing such information as the
Minister considers necessary for the decision.
(7) If the Minister
approves a transfer of an interest in a pastoral lease to a body corporate the
Minister may require such modifications to be made to the lease as the
Minister thinks fit.
(8) If a transfer
results in the effective division of the land under a lease into parts with
different lessees, the annual rent for the lease is to be apportioned between
the parts of the lease in proportion to the area of each part.
[Section 134 amended: No. 59 of 2000 s. 36; No. 4
of 2023 s. 92.]