New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) Any lease providing for the payment of compensation for improvements effected by the lessee may stipulate that a record of the state and condition of the land and of any improvements existing on it as at the commencement of the lease, and a valuation of the land, shall be made in accordance with this section.
(2) On the request of any party to any such lease made within 2 months after the grant of the lease, the Māori Trustee or the court appointed agent shall cause to be made, in such manner as he or she thinks fit, the record referred to in subsection (1), and a valuation under subsection (3).
(3) The Māori Trustee or the court appointed agent may request a registered valuer to make a special valuation of the land comprised in the lease as at the date of the commencement of the lease, and the provisions of sections 207 and 208, as far as they are applicable and with the necessary modifications, apply to any such valuation.
(4) The cost of making any such record and valuation shall be deemed to be an expense properly deductible, by instalments or otherwise, from any rent received from the lease of the land in respect of which the record is made.
(5) Where the lessee under a farm lease makes, or proposes to make, any improvements in respect of which the lessee will be entitled to compensation, the lessee shall be entitled, on application to the Māori Trustee, to have a record made by the Māori Trustee of particulars of the nature of those improvements and of the state and condition of the land before the making of the improvements.
(6) Every such record shall be made at the cost in all things of the lessee.
(7) Every record made under this section shall be retained by the Māori Trustee, and shall at all times be receivable as sufficient evidence of the facts so recorded in all matters and proceedings relating to the value of the improvements effected by the lessee.
Compare: 1953 No 94 s 249; 1967 No 124 s 112
Section 209(3): substituted, on 1 July 1998, by section 54(1) of the Rating Valuations Act 1998 (1998 No 69).
Section 209(3): amended, on 1 July 2009, pursuant to section 30(2)(a) of the Māori Trustee Amendment Act 2009 (2009 No 12).
Section 209(5): amended, on 1 July 2009, pursuant to section 30(2)(a) of the Māori Trustee Amendment Act 2009 (2009 No 12).
Section 209(7): amended, on 1 July 2009, pursuant to section 30(2)(a) of the Māori Trustee Amendment Act 2009 (2009 No 12).
