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 25 years, and not longer than 35 years, unless:
(a) a proposal that covers the lease or licence has been made under subsection (2); and
(b) the time for each House to disallow the proposal under Part 2 of Chapter 3 of the Legislation Act 2003 has passed and neither House disallowed the proposal.
(2) The Trust may, by legislative instrument, make a proposal in relation to a lease or licence.
(3) For the purposes of paragraph (1)(a), a proposal covers a lease or licence if:
(a) the lessee or licensee, and the land the subject of the lease or licence, was specified in the proposal; and
(b) the period of the lease or licence does not exceed the maximum period specified in the proposal; and
(c) the uses of the land permitted by the lease or licence were specified in the proposal.
(4) In addition to the requirements under subsection 15J(2) of the Legislation Act 2003 , the Trust must ensure that the explanatory statement for the proposal includes the statement of reasons prepared under section 64B for the lease or licence covered by the proposal.
(5) The Trust must, as soon as practicable after the proposal is registered on the Federal Register of Legislation under the Legislation Act 2003 , publish a notice of this fact on the Trust's website.