Reserves Act 1977

64 Administering body may purchase land on deferred payments

• (1) Any administering body may enter into a contract for the purchase of land upon terms providing for payment of the whole or part or parts of the purchase money at a future date or dates, and for payment of interest upon any unpaid purchase money at a rate authorised by the Minister:

  provided that no such contract shall be valid unless—

  • (a) the Minister expressly approves the same by writing endorsed thereon; and

  • (b) it is expressly provided therein—

    • (i) that the vendor shall have no claim or right of action in respect of any unpaid purchase money or interest against the Crown or upon the Government or public revenues of New Zealand; and

    • (ii) that upon payment in full of the purchase money the land shall, by conveyance or transfer from the vendor, be vested in the administering body in any case where the reserve administered by it is vested in that body, and be vested in the Crown in any other case.

  (1A) Notwithstanding paragraph (a) of the proviso to subsection (1), the approval of the Minister shall not be required in any case where the administering body is a territorial authority or regional council.

  (2) All land so purchased shall, on the taking possession thereof by the administering body, be administered in accordance with the appropriate provisions of this Act as if it were part of the reserve controlled by the administering body, and on the conveyance or transfer thereof to the administering body or to the Crown, as the case may be, shall become part of that reserve.

  Compare: 1953 No 69 s 50

  Section 64(1A): inserted, on 1 January 1980, by section 21 of the Reserves Amendment Act 1979 (1979 No 63).

  Section 64(1A): amended, on 1 July 2003, by section 262 of the Local Government Act 2002 (2002 No 84).