Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered Regulations(a) to which a variation is proposed; 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) The remission rate applicable in respect of a prescribed lease is the rate, expressed as a percentage of the added value of the lease, specified in Column 2 of the appropriate table in Schedule 3 opposite the range of years specified in Column 1 of that table that includes the number of years that have elapsed since the grant of the lease.
(3) For the purposes of this regulation and Schedule 3, unless the contrary intention appears:
(a) a lease shall be classified as a full charge grant—
(i) if an amount not less than the market value of the lease was paid as a lump sum for the grant of the lease or is payable under the lease as rent; or
(ii) if the lease was granted before 1 January 1971 and a provision in respect of rent, amounts taken to be rent, or additional rent has, by force of an enactment, ceased to have effect;
(b) a lease shall be classified as a concessional charge grant if it was granted for a consideration less than the full market value of the lease, whether that consideration was paid as a lump sum for the grant of the lease or is payable under the lease as rent;
(c) a lease shall be classified as a grant free of charge if it was granted free of consideration other than rent payable at 5 cents per annum if and when demanded.
(4) Where, since the grant of a lease of Territory Land—
(a) that lease has been replaced in whole or in part by a further lease; and
(b) the further lease does not require any particular part of the parcel of land held under the 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.
(5) For the purpose of determining the period since the grant of a lease referred to in subregulation (4), the relevant period shall be taken to have commenced on the date of the grant of the further lease.
(6) 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;
the composite lease shall be taken to have the same classification as the larger or largest of the amalgamated leases.
(7) For the purpose of determining the period since the grant of a composite lease referred to in subregulation (6), the relevant period shall be taken to have commenced on the date of the grant of the larger or largest of the amalgamated leases.
(8) 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;
the composite lease shall be taken to have the same classification as whichever of the amalgamated leases would, if varied separately, have attracted the greater or greatest remission rate.
(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 whichever of the amalgamated leases would, if varied separately, have attracted the greater or greatest remission rate.
(10) Where a prescribed lease, other than a lease referred to in subregulation (4), 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 comprised in the surrendered lease into parcels of land held under leases having the same purposes as those of 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.