Land (Amendment) Act 2022 (No. 53 of 2022)

No. ~ 3 of 2022. Land (Amendment) Act 2022. Certified on : 4 OCT 2022 No. ~ of 2022. Land (Amendment) Act 2022. ARRANGEMENT OF SECTION. State Leases (Amendment of Part X). No. S-3 of 2022. AN ACT entitled Land (Amendment) Act 2022, Being an Act to amend the Land Act 1996 and for related purposes, MADE by the National Parliament to come into operation in accordance with a notice in the National Gazette by the Head of State, acting on the advice of the Minister. STATE LEASES (AMENDMENT OF PART X). The Principal Act is amended in Part X by inserting a new division after Division 10 as follows: "Division 11. - Strata Development Leases. HOA. INTERPRETATION. In this division, "subdivision" means the subdivision of an area of land or the vertical subdivision of buildings into two or more parts, whether the subdivision is effected for the purposes of convenience, transfer, partition, sale, gift, lease, mortgage, or any other purpose, and "subdivide" has a corresponding meaning. llOB. STRATA DEVELOPMENT LEASES TO BE GRANTED ON LAND OR BUILDINGS IN PHYSICAL PLANNING AREAS SUITABLE FOR SUBDIVISION. (1) In addition to the requirements of Division 10, a tender document for a Strata Development Lease must be accompanied by a sketch plan of the infrastructure of the proposed strata development. (2) A person who (a) has an existing lease; or (b) owns a building under subleasing arrangement, may surrender the State Lease or subleasing arrangement in exchange for a Strata Development Lease. (3) The new Strata Development Lease granted under Subsection (2) may be for the whole or a part of the existing lease if the terms and conditions of a Strata Development Lease are met. (4) A Strata Development Lease can only be granted if it meets the zoning requirements under the Physical Planning Act 1989. Land (Amendment) (5) A Strata Development Lease lies dormant upon the registration of a strata plan, and the issuance of a unit lease and a common area lease. (6) The granting of a lease following the surrender of a Strata Development Lease is exempted from the requirements of Section 69(2)(j) of this Act.". I hereby certify that the above is a fair print of the Land (Amendment) Act 2022, which has been made by the National Parliament. National Parliament. 4 OCT 2022 I hereby certify that the Land (Amendment) Act 2022, was made by the National Parliament on 23 March 2022. 2 e National Parliament. 4 OCT 2022