New South Wales Consolidated Acts

CROWN LANDS ACT 1989 - SECT 143

143 Determination or redetermination of rent-principles

(1) In redetermining the rent of a lease or licence (the conditions of which provide for the redetermination of the rent) or determining or redetermining rent for the purposes of section 61, 62, 63 or 72 (enclosure permits), the Minister, the local land board and the Land and Environment Court shall apply the following principles:

(a) the rent shall be the market rent for the land comprised in the lease, licence or enclosure permit having regard to any restrictions, conditions or terms to which it is subject,

(b) any improvements on the land which were made by the holder, or are owned or in the course of being purchased from the Crown by the holder, shall be disregarded,

(c) regard may be had to any additional value which, because of the lease, licence or enclosure permit, has accrued, or may reasonably be expected to accrue, to other land held by the holder,

(d) regard may be had to the duration of the time for which the rent determined will be payable.

(2) Despite subsection (1), if the Independent Pricing and Regulatory Tribunal makes a recommendation in relation to the rent of any such lease, licence or enclosure permit (or class of any such lease, licence or enclosure permit), the Minister may:

(a) in redetermining the rent of any lease or licence that is the subject of the recommendation, or

(b) in determining or redetermining the rent of any enclosure permit that is the subject of the recommendation,

apply the recommendation.

(3) If the recommendation of the Independent Pricing and Regulatory Tribunal is applied by the Minister in determining or redetermining the rent concerned, the local land board and the Land and Environment Court are, despite subsection (1), to apply the recommendation in determining any appeal against the Minister’s decision.

(4) This section also applies in relation to the redetermination under Division 3A of the rent of a licence or enclosure permit.