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Section 4:

State Lands Act · PART II: ANNUAL RENTAL

consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.

4. The annual rental calculated under paragraphs 1 (a) and (b) and 2 shall, in respect of existing lessees, 19 July 2008 be again reduced by— (a) 30 per cent in respect of the first year of the new lease; (b) 20 per cent in respect of the second year of the new lease; (c) 10 per cent in respect of the third year of the new lease; (d) 5 per cent in respect of the fourth year of the new lease after adding the adjustment calculated under paragraph 3; (e) zero per cent in respect of the fifth and every succeeding year of the new lease.

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