Western Lands (Amendment) Act 1968 (NSW)

WESTERN LANDS (AMENDMENT) ACT.

iSetD Males;

ANNO SEPTIMO DECIMO

ELIZABETHiE II REGINA

Act No. 49, 1968.

An Act to make further provision for the redetermin­ ation of rent of, and variation of interest rates in respect of the value of improvements on, Western Lands leases; for these purposes to amend the Western Lands Act of 1901, as subsequently amended; and for purposes connected therewith. [Assented to, 5th December, 1968.]

BE

Western Lands (Amendment).

T>E it enacted by the Queen’s Most Excellent Majesty, by No. 49, 1968

and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows; —

1. This Act may be cited as the “Western Lands Short title.

(Amendment) Act, 1968”.

2. The Western Lands Act of 1901, as subsequently Amend-

amended, is amended—	Ac°no
70,1901.

(a) by inserting next after section 19c the following New sec.

new section :— 19d.

19d. (1) This section applies to leases for the Redeter-

: I -

purpose of grazing granted before or after of grazmg

the commencement of the Western Lands lease

(Amendment) Act, 1968.	upo*n*
application.

a y‘.. ' (2) Notwithstanding anything contained

, .. ,

in this Act the rent of any lease to which this

1' ,■

section applies may be redetermined by the local

land board under this section.

(3) The holder of a lease to which this

section applies may—

(a) in the case of a lease in respect of which the local land board has determined or redetermined the rent for a period of ten years, at any time within twelve months following the expiration of four and one half

;

' years from the commencement of the period of ten years for which the rent of the lease has been determined or redetermined, as the case may be, and

, (b) in the case of a lease in respect of which the local land board has determined or

• redetermined the rent for a period of other

than

. i -

Western Lands {Amendment).

No. 49,1968 than ten years, at any time after the expira­ tion of five years from the commencement of the period for which the rent of the lease has been determined or redetermined, as the case may be, and before the third last year of the term of the lease,

make apphcation to have the rent of the lease

•	redetermined by the local land board.
In paragraph (b) of this subsection “redeter­ mination” means redetermination under the provisions of this section or under any other provision of this Act.

(4) In redetermining the rent of any lease

under this section the board shall have regard to the productive capacity of the land under fair average seasons, prices and conditions: Provided that the rate of rent shall not in any case exceed fifteen cents per sheep, nor shall it be less than five cents per sheep on the fair average carrying capacity of the land when reasonably improved as estimated on a sheep basis by the loc^ land board.

(5) (a) Where application has been

made under paragraph (a) of subsection three of this section the rent as redetermined by the local land board shall be the rent payable for the second neriod of five years of the ten year period.

(b) Where application has been made under paragraph (b) of subsection three of this section the rent as redetermined by the local land board shall be the rent payable from the date of application until a further redetermination has been made under this section, or where no such further redetermination has been made for the remainder of the unexpired portion of the term of the lease.

Western Lands (Amendment).

(b ) ( i) by inserting at the end of subsection two No. 49,1968

of section thirty-one the following new

paragraph

The regulations may prescribe some rate of value

of interest other than four per centum per

aimum as the rate of interest payable under	’
this subsection. Such other rate of interest shall, notwithstanding the Finances Adjust­ ment Act, 1932, as subsequently amended, be the rate of interest applicable under this subsection to leases granted after the date on which such regulations take effect.

(ii)   by inserting at the end of subsection three of the same section the following new paragraph ;—

The regulations may prescribe some rate of interest other than four per centum per annum as the rate of interest payable under this subsection. Such other rate of interest shall be the rate of interest applicable under this subsection to leases granted after the date on which such regulations take effect.

WHEAT