Valuation of Land Amendment Regulation (No. 1) 2003 (Qld)

Queensland Subordinate Legislation 2003 No. 147 Valuation of Land Act 1944 VALUATION OF LAND AMENDMENT REGULATION (No. 1) 2003 TABLE OF PROVISIONS Section Page 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2 Regulation amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3 Insertion of new s 2AA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2AA Non-physical improvements that are intangible improvements— Act, s 6(5) .................................... 2 4 Insertion of new s 2C. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 2C Valuing intangible improvements—Act, s 35A . . . . . . . . . . . . . . . . . 2

s1 2 s4 Valuation of Land Amendment Regulation (No. 1) 2003 No. 147, 2003 1 Short title This regulation may be cited as the Valuation of Land Amendment Regulation (No. 1) 2003 . 2 Regulation amended This regulation amends the Valuation of Land Regulation 1993. 3 Insertion of new s 2AA After section 2— insert — ‘2AA Non-physical improvements that are intangible improvements—Act, s 6(5) ‘For the Act, section 6(5), definition “intangible improvements”, paragraph (b), the following non-physical improvements are prescribed— (a) risk management procedures in place for a development on the land, including, for example, procedures dealing with the following— (i) capturing and retaining a share of the market; (ii) turnover of tenants; (iii) establishing a stable and quality mix of tenants; (b) market advantages resulting from the business skills of the owner or manager of a development on the land; (c) market advantages of a brand name used for a development on the land.’. 4 Insertion of new s 2C After section 2B— insert— ‘2C Valuing intangible improvements—Act, s 35A ‘For section 35A(5) of the Act, the percentage is 20%.’.

3 Valuation of Land Amendment Regulation (No. 1) 2003 No. 147, 2003 ENDNOTES 1. Made by the Governor in Council on 26 June 2003. 2. Notified in the gazette on 27 June 2003. 3. Laid before the Legislative Assembly on . . . 4. The administering agency is the Department of Natural Resources and Mines. © State of Queensland 2003