New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) Where a Crown body (or any body that was a Crown body at the date on which this section comes into force or on which the body first acquired the residual Crown land concerned, whichever is the later) proposes to sell any residual Crown land to any person other than—
(a) Another Crown body; or
(b) A person who is entitled to purchase the land pursuant to an offer made under—
(i) Section 40 of The Public Works Act 1981 or that section as applied by any other enactment; or
(ii) Section 23(1) or section 24(4) of The New Zealand Railways Corporation Restructuring Act 1990; or
(c) The existing tenant of a house situated on any residual Crown land that is—
(i) Land of Housing New Zealand Limited or of the Housing New Zealand Corporation; or
(ii) Land held for education purposes by the Crown; or
(iii) Land held by any Crown body which, at the date on which this section comes into force, has a policy under which houses that are to be sold are first offered for purchase by the existing tenants; or
(d) A person who has, at the date on which this section comes into force, a legal right to purchase the land; or
(e) A person who is entitled to purchase the land under the terms of any gift, endowment, or trust relating to the land, or under any enactment or rule of law,—
the body shall give to the land holding trustee notice of the proposed sale setting out the price and other proposed terms of sale and offering to sell the land to the land holding trustee on those terms.
(2) Where, within one month after the date on which the land holding trustee receives a notice under subsection (1) of this section from a Crown body or other body (time being of the essence), the land holding trustee—
(a) Accepts the offer set out in the notice by giving written notice of acceptance to the body; or
(b) Otherwise agrees with the body in writing to purchase the land concerned,—
a contract for the sale and purchase of that land shall be thereby constituted between the body and the land holding trustee and that contract may be enforced accordingly.
(3) If, within one month after the date on which the land holding trustee receives a notice under subsection (1) of this section from a Crown body or other body (time being of the essence), a contract for the sale and purchase of the land to which the notice relates is not constituted under subsection (2) of this section, the body—
(a) May, at any time during the period of 2 years following the expiry of one month from the date of receipt of the notice under subsection (1) of this section by the land holding trustee, sell the land to any person it wishes on terms not more favourable to the purchaser than those set out in that notice; but
(4) Where a body—
(a) Has offered to sell any residual Crown land to the land holding trustee under subsection (1) of this section; and
(b) Wishes to again offer that land for sale, but on terms more favourable to the purchaser than the terms of the first offer,—
the body may do so, so long as it first re-offers the land for sale on the more favourable terms to the land holding trustee in accordance with subsection (1) of this section; and subsections (2) and (3) of this section shall apply to any such re-offer.
(5) The obligation of a Crown body or other body under subsections (1) to (4) of this section in respect of any particular land shall terminate on the completion of the sale of the land—
(a) To the land holding trustee; or
(b) In accordance with subsection (3) of this section; or
(c) To a person of a kind referred to in any of paragraphs (b) to (e) of subsection (1) of this section,—
whichever first occurs.
(6) Nothing in this section affects or derogates from, and the rights created by this section are subject to,—
(a) The terms of any gift, endowment, or trust relating to, and the rights of any holders of mortgages or other securities over, residual Crown land or any improvements on any such land:
(b) Any other enactment or rule of law that must be complied with before any residual Crown land is disposed of:
(c) Any feature of the title to any residual Crown land which prevents or limits a body's right to transfer the land or any improvements on the land:
(d) Any legal requirement which impedes a body's ability to sell or otherwise dispose of any residual Crown land or any improvements on any such land and which the body cannot satisfy after taking reasonable steps to do so (and, for the avoidance of doubt, reasonable steps does not include initiating a change in the law).
(7) Nothing in this section affects or derogates from the right of a Crown body to sell or otherwise dispose of any Crown body, or requires a Crown body to offer to the land holding trustee any Crown body that is to be sold or otherwise disposed of.
(8) In the case of residual Crown land that is a settlement property that Waikato have elected under clause 8 of the deed of settlement not to take, this section shall be read subject to section 12 of this Act.
(9) Where any residual Crown land—
(a) Becomes, under subsection (2) of this section, subject to a contract for the sale and purchase of that land; or
(b) Is transferred (without breaching this section) to any person that is not a Crown body,—
this section and section 12 of this Act shall cease to apply to that residual Crown land.
(10) Clause 10 of the deed of settlement shall cease to have effect from the date on which sections 12 and 13 of this Act and this section come into force.
Subsection (1)(c)(i) was amended, as from 1 July 2001, by section 24(1) Housing Corporation Amendment Act 2001 (2001 No 37) by substituting the words “Housing New Zealand Corporation”
for the words “the Housing Corporation of New Zealand”
.