Document ID: chunk:federal_register_of_legislation:F2016L00002:schedule:8:p11
Version: federal_register_of_legislation:F2016L00002
Segment Type: schedule
Provision Reference: sch 8 (pt 11/52)
Character Range: 563369–566152

membership of which is limited to Relevant Aboriginals or groups of Relevant Aboriginals (in this clause referred to as the "permitted Aboriginal purchaser") the right of the first refusal to purchase the said property or equipment or any part thereof subject to the following terms and conditions: -

          (a)      the Lessee shall give notice in writing to the Land Council of the Lessee's intention to dispose of any such property or equipment. The notice shall constitute an offer by the Lessee to sell any such property or equipment to a permitted Aboriginal purchaser and shall specify the consideration required by the Lessee from a permitted Aboriginal purchaser for the purchase of the Lessee's interest therein, which consideration shall not impose any more onerous an obligation or duty upon the permitted Aboriginal purchaser or require the permitted Aboriginal purchaser to pay any greater pecuniary sum than the Lessee would impose upon or require from a purchaser other than a permitted Aboriginal purchaser;

          (b)      within fourteen (14) days after the Lessee gives the said notice a permitted Aboriginal purchaser may give notice in writing to the Lessee of acceptance or rejection of the Lessee's offer to sell;

          (c)       in the event of the giving of a notice of acceptance there shall be deemed to be a binding contract for sale by the Lessee and purchase by the permitted Aboriginal purchaser of the Lessee's interest in the said property or equipment for the consideration stated in the Lessee's notice;

          (d)      the purchase price shall be paid within thirty (30) days from the date on which the notice of acceptance is given to the Lessee and, if the permitted Aboriginal purchaser shall make default in payment of the purchase price or any part thereof, it shall be lawful for the Lessee at its option and without prejudice to any other legal rights or remedies that the Lessee may have, upon giving fourteen (14) days notice in writing to the permitted Aboriginal purchaser, to rescind the contract constituted pursuant to paragraph (b) and thereupon to resell the said property or equipment by public auction or private contract and any deficiency on resale together with all outgoings, costs and expenses of and incidental to resale shall immediately thereafter be made good by the particular permitted Aboriginal purchaser to the Lessee; and

          (e)      in the event that a notice of acceptance is not given within the time limit as aforesaid, the Lessee shall then be at liberty to sell the said property or equipment by private contract to any other person for a pecuniary sum being not less than that specified in the notice in writing given pursuant to paragraph (a) or by public auction.

       (2) In