Following the Bill’s passing both houses of Parliament, the Headland Preservation Group (HPG) is pleased to advise that the Sydney Harbour Federation Trust Amendment Bill 2021 has now received Royal Assent.
Not only has the legislation guaranteed the future of the Harbour Trust, it has also capped commercial leases at 35 years thereby assuring against the inappropriate alienation of public land.
To avoid any misunderstanding and to clarify the current leasing position HPG advises that:
Under prior legislation:
The Trust could not enter into leases over 25years.
Leases over 25 years were allowed only with Ministerial Consent and Parliamentary approval.
Subject to the above there was no cap on leases over 25 years, that is, the lease term was open ended and could be as long as 99 years plus.
Under the current legislation:
The Trust must not enter into leases over 25 years.
Leases between 25 and 35 years are subject to the following checks and balances:
Consultation with the community advisory committee and broader public, leading to a Statement of Reasons
Tabling of a lease proposal together with an Explanatory Statement from the Harbour Trust attaching the Statement of Reasons in Parliament for approval by both Houses of Parliament.
Approval by the Minister
The Trust must not enter into leases over 35 years under any circumstances.
In summary:
The current legislative provisions are far more restrictive than previously, in that:
The potential for long term leasing has been capped at 35 years.
Leases between 25 and 35 years are subject to more stringent checks and balances.
HPG acknowledges the wide political support for the passing of this Bill.