Queensland Consolidated Acts Queensland Consolidated Acts(1) This section applies if—
(a) after applying section 183(1) to a category of leases, licences or permits (relevant tenures), there is an increase in rents for the category for a rental year (the current year); and
(b) the Minister considers the increase is an undue increase.
(2) The Minister may decide that the amount of the current year's rent for all relevant tenures, other than an excluded tenure for the current year, is the lesser of the following—
(a) the rent worked out by applying section 183(1);
(b) the rent worked out using the formula—
RCY = RPY+ (RPY x PP)
where—
RCY means the amount of the rent.
RPY means—
(a) if the relevant tenure existed during the previous year—that year's annual rent for the relevant tenure; or
(b) if the relevant tenure did not exist during the previous year but had a corresponding tenure for that year—that year's notional annual rent for the corresponding tenure.
PP means the percentage for the category, as prescribed under a regulation.
(3) In this section—
corresponding tenure, for a relevant tenure, means a former lease, licence or permit, whether or not of the same area as the relevant tenure, that was ended for the purpose of changing its area, issuing a new tenure or for a renewal or conversion under this Act and because of which change, issuing renewal or conversion the relevant tenure was created.
excluded tenure, for the current year, means—
(a) a freeholding lease; or
(b) a relevant tenure for which there is a set rent; or
(c) a relevant tenure that, during the previous year, did not exist and had no corresponding tenure.
Note—
For freeholding leases see chapter 8, part 2. For other excluded tenures, see sections 183 and 183A.
notional annual rent, for the previous year of a corresponding tenure of a relevant tenure, means the rent for each hectare of the corresponding tenure's area multiplied by the area of the relevant tenure.
previous year means the rental year that immediately preceded the current year.