holder's interest in the land) and taking the result to the nearest dollar. (4) A Crown grant issued by the Governor in Council pursuant to this section shall contain such conditions exceptions and reservations as the Governor in Council thinks fit. 174 Residence area right may be converted to purchase S. 174 substituted by lease No. 8304 s. 2. (1) Any holder of a residence area right may apply to S. 174(1) amended by the Secretary for permission to convert the right to Nos 10087 a purchase lease. s. 3(1)(Sch. 1 item 130), 41/1987 s. 103(Sch. 4 item 39.32), 76/1998 s. 11(h). (2) If the Minister is satisfied that— S. 174(2) amended by No. 92/1990 (a) a habitable dwelling has been erected on s. 128(Sch 1 such residence area; and item 13.6 (a)(b)). (b) the holder thereof has complied with the provisions of this Division, the regulations and any conditions to which the right is subject— and if there is no objection to the alienation of the land for any reason of a public nature the holder on payment of the survey fees shall be entitled to the grant of a purchase lease of the residence area. (3) The purchase price under a purchase lease shall be determined as provided in subsection (3) of section 173. (4) A lease granted under this section shall be subject to such conditions and covenants as the Governor in Council thinks fit.
holder's interest in the land) and taking the result to the nearest dollar. (4) A Crown grant issued by the Governor in Council pursuant to this section shall contain such conditions exceptions and reservations as the Governor in Council thinks fit. S. 174 substituted by No. 8304 s. 2. 174 Residence area right may be converted to purchase lease S. 174(1) amended by Nos 10087 s. 3(1)(Sch. 1 item 130), 41/1987 s. 103(Sch. 4 item 39.32), 76/1998 s. 11(h). (1) Any holder of a residence area right may apply to the Secretary for permission to convert the right to a purchase lease. S. 174(2) amended by No. 92/1990 s. 128(Sch 1 item 13.6 (a)(b)). (2) If the Minister is satisfied that— (a) a habitable dwelling has been erected on such residence area; and (b) the holder thereof has complied with the provisions of this Division, the regulations and any conditions to which the right is subject— and if there is no objection to the alienation of the land for any reason of a public nature the holder on payment of the survey fees shall be entitled to the grant of a purchase lease of the residence area. (3) The purchase price under a purchase lease shall be determined as provided in subsection (3) of section 173. (4) A lease granted under this section shall be subject to such conditions and covenants as the Governor in Council thinks fit.
58-6284a134.docx