South Australian Repealed Acts South Australian Repealed ActsThis legislation has been repealed.
124A—Payment to trust on subdivision of ratable land
(1) Where a person
intends making an application to the Registrar-General for the division of
ratable land he shall, if the division sought would result in the land ceasing
to be ratable land, pay to the trust before making his application a sum of
money calculated in the prescribed manner.
(2) Where an
application is withdrawn or is, for any reason, not successful, the trust
shall repay any money paid to it under subsection (1) to the applicant.
(3) The trust shall
apply money paid to it under subsection (1) in repayment of money
borrowed, or in payment of interest due, by it pursuant to this Part.
(4) The Governor may,
by regulation, prescribe the manner in which the sum of money referred to in
subsection (1) is to be calculated.