New South Wales Consolidated Acts New South Wales Consolidated Acts(cf Act No 7, 1912, s 12)
(1) The Corporation may accept a surrender of any land leased, dedicated or granted under this Act.
(2) The land so surrendered may be disposed of by the Corporation under this Act.
(3) The Corporation may agree to cancel any contract of sale of land from the Corporation at the request of the purchaser of the land.
(4) The Corporation may, if it thinks fit, pay to the person surrendering any land leased, granted or dedicated under this Act, or to the purchaser of land on the cancellation of a contract of sale, such sum by way of compensation for any visible and effective improvements on the land, as to the Corporation seems fair.
(5) An amount paid under subsection (4) must not exceed the value of the improvements at the date of the surrender or cancellation and must relate to costs that have not been defrayed or advanced by the Corporation.
(6) The Corporation may also in its discretion repay to a purchaser on the cancellation of a contract of sale of land from the Corporation the whole or such proportion as it thinks fit of the purchase money of the land that has been paid by the purchaser under this Act.