Land Amendment Regulation (No. 1) 2016 (Qld)

1   Short title

This regulation may be cited as the Land Amendment Regulation (No. 1) 2016 .

2   Regulation amended

This regulation amends the Land Regulation 2009 .

3   Amendment of s 25A (What this division does)

Section 25A, after ‘timber’—
insert—

, value of quarry material

4   Amendment of s 25B (Purchase price—generally)

Section 25B—
insert—

(1A)The purchase price of the following land also includes the value of any quarry material in the land (see section 25EA)—

(a)land to be amalgamated, under section 109(2)(b) of the Act, with land for which there is no reservation of quarry material to the State;

(b)land to be amalgamated, by way of a deed of grant under section 122(1) of the Act, with land for which there is no reservation of quarry material to the State.

5   Insertion of new s 25EA

Part 4—
insert—

25EA    Value of quarry material

(1)The value of any quarry material in the land is the market value of any quarry material in the land that is the property of the State and that could be taken for commercial gain.

(2)The market value of any quarry material is to be worked out—

(a)if the quarry material is in land to be amalgamated under section 109(2)(b) of the Act—as at the day the Minister makes the decision under that section; or

(b)if the quarry material is in land to be amalgamated by way of a deed of grant under section 122(1) of the Act—as at the day the Minister makes the decision under that section.

6   Amendment of s 33 (Category 15.1, 15.2, 15.3, 15.4 or 15.5 lease)

Section 33(6), definition urban area—
insert—

•Noosa Shire Council

7   Amendment of s 37B (Rent for leases with particular title references)

(1)Section 37B(2)(b), ‘10%’—
omit, insert—

100%

(2)Section 37B(4), ‘2016’—
omit, insert—

2018

8   Amendment of s 38 (Protection against undue rental increases)

Section 38(3), ‘2016’—
omit, insert—

2017

9   Amendment of sch 6 (Averaged value)

Schedule 6, section 1, definitions rental period 3 and rental period 4—
omit.

10   Amendment of sch 6A (Lease title references)

(1)Schedule 6A, ‘17555171’, ‘17579167’, ‘17660148’, ‘17723013’, ‘17723035’, ‘17744148’, ‘17770095’ and ‘40038875’—
omit.

(2)Schedule 6A—
insert—

17549125

(3)Schedule 6A—
insert—

40070121

(4)Schedule 6A—
insert—

40071129

(5)Schedule 6A—
insert—

40071685

11   Amendment of sch 12 (Dictionary)

(1)Schedule 12, definition Suncorp-Metway business banking variable lending base rate, from ‘loans’—
omit, insert—

the loan type called the Small Business Mortgage Rate that is effective as at 31 March immediately before the current financial year.

(2)Schedule 12, definition Suncorp-Metway business banking variable lending base rate, editor’s note—
omit.