Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered Regulations(a) in respect of which a provisional order for the variation of the lease has been made under the Act; and
(b) that is classified under this regulation as—
(i) a full charge grant;
(ii) a concessional charge grant; or
(iii) a grant free of charge.
(2) A reference in this regulation, in relation to a prescribed lease, to the period since the grant of the lease shall, unless the contrary intention appears, be read as a reference to the period of years that have elapsed since the grant of that lease, being the period included in the range of years specified in column 1 of the appropriate table in the Schedule.
(3) A reference in this regulation to the market value of a lease is a reference to the amount that could be expected to be paid for the lease on the open market if it were sold by a willing but not anxious seller to a willing but not anxious buyer.
(4) The remission rate applicable in respect of a prescribed lease is the remission rate, expressed as a percentage of the added value of the lease, as specified in column 2 of the appropriate table in the Schedule opposite the appropriate range of years specified in column 1 of that table.
(5) For the purposes of this regulation, unless the contrary intention appears—
(a) a lease shall be classified as a full charge grant—
(i) if the amount of the market value of the lease has been paid in a lump sum or by way of instalments of rent payable under that lease, not being a lease referred to in subparagraph (ii); or
(ii) if the lease was granted prior to 1 January 1971 and a provision in respect of rent, amounts taken to be rent, or additional rent has under an Act ceased to have any force or effect;
(b) a lease shall be classified as a concessional charge grant if granted for less than the amount of the market value of the lease or at a rental less than full market rental; and
(c) a lease shall be classified as a grant free of charge if granted free of consideration other than rent payable at 5 cents per annum if and when demanded.
(6) Where, since the grant of a lease—
(a) that lease has been replaced in whole or in part by a further lease issued under the Act; and
(b) the further lease does not require any particular part of the parcel of land held under that lease—
(i) to be occupied by the original grantee; or
(ii) to be used for a purpose permitted under the original lease;
the further lease issued shall be taken to be a prescribed lease classified as a full charge grant.
(7) For the purpose of determining the period since the grant of a lease referred to in subregulation (6), the relevant period shall be taken to have commenced on the date of grant of the further lease.
(8) Where—
(a) 2 or more leases granted in respect of parcels of land of differing areas have been amalgamated into a composite lease; and
(b) the amalgamated leases would have had 2 or more classifications under this regulation;
the composite lease shall be taken to have the same classification as the larger or largest of the amalgamated leases.
(9) For the purpose of determining the period since the grant of a composite lease referred to in subregulation (8), the relevant period shall be taken to have commenced on the date of the grant of the larger or largest of the amalgamated leases.
(10) Where—
(a) 2 or more leases granted in respect of parcels of land having the same area have been amalgamated into a composite lease; and
(b) the amalgamated leases would have had 2 or more classifications under this regulation;
the composite lease shall be taken to have the same classification as whichever of the amalgamated leases would, if varied separately, have attracted the lower betterment charge.
(11) For the purpose of determining the period since the grant of a composite lease referred to in subregulation (10), the relevant period shall be taken to have commenced on the date of the grant of whichever of the amalgamated leases would, if varied separately, have attracted the lower betterment charge.
(12) Where a prescribed lease, other than a lease referred to in subregulation (6), has been granted in substitution for a surrendered lease for the purpose of—
(a) varying the term of the surrendered lease;
(b) correcting an error in the surrendered lease; or
(c) subdividing the land held under the surrendered lease into parcels of land held under leases having the same purposes as those permitted under the surrendered lease;
for the purpose of determining the period since the grant of the prescribed lease, that period shall be taken to have commenced on the date of the grant of the surrendered lease.