Surrender and regrant of Crown lease

Conveyance duty is not imposed on the grant of a new Crown lease (new Crown lease) to a lessee under a previous Crown lease because of the surrender of the previous lease, if:

• Changing the purpose for which the land comprised in the lease may be used
• granting the lessee a longer leasehold interest in the land comprised in the lease
• reducing rent to not more than 5 cents a year, and
• correcting errors or omissions.

A Crown lease means:

• a territory lease, and
• includes a lease granted by the Commonwealth or the Federal Capital Commission.