Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Trust must not enter into a lease or licence over Trust land for a period that is longer than 35 years.
(2) The Trust must not enter into a lease or licence over Trust land for a period that is longer than 25 years, and not longer than 35 years, unless the requirements in sections 64B, 64C and 64D are met.
(3) In working out the period of a lease or licence, assume that any option or right to extend or renew the lease or licence will be exercised and take into account the period of the lease or licence as so extended or renewed.