Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered RegulationsSection 68 is repealed and the following sections are substituted:
“68 Surrender and regrant of Crown lease
“(1) Duty of $20 is chargeable for the grant of a new Crown lease to the lessee under a previous Crown lease because of the surrender of the previous lease if the surrender was only for 1 or more of the following purposes:
(a) changing the purpose for which the land comprised in the lease may be used;
(b) granting the lessee a longer leasehold interest in the land comprised in the lease;
(c) reducing rent to not more than 5 cents a year;
(d) correcting errors or omissions.
“(2) Duty of $20 is chargeable for the grant of new Crown leases to a lessee under a previous Crown lease because of the surrender of the previous lease if the surrender was only for—
(a) subdividing the land comprised in the surrendered lease; or
(b) that purpose and 1 or more of the purposes mentioned in paragraphs (1) (a) to (d).
“(3) Duty of $20 is chargeable for the grant of a new Crown lease to a lessee under 2 or more previous Crown leases because of the surrender of the previous leases if the surrender was only for—
(a) consolidating the land comprised in the surrendered leases; or
(b) that purpose and 1 or more of the purposes mentioned in paragraphs (1) (a) to (d).
“68A Regrant of lease with additional land
If—
(a) a Crown lease is granted to a lessee under a previous Crown lease because of the surrender of the previous lease; and
(b) the land comprised in the new lease is all the land comprised in the surrendered lease and additional land;
duty is chargeable only on the transfer of the interest in the additional land.”.