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XCRI(77)19
In the case of those permittees who have already agreed to the new rates, appropriate reductions will be made in the next year's rentals. If the standard rentals are increased on review, the rates may have to be adjusted, but the principle of staging will be retained. It should be noted, however, that even with the introduc- tion of stage in rentals, conversions will still result in considerable increases in individual payments to Government, particulary where the licensee has constructed substantial structures in the permit area. But a special concession in these cases would be unfair to others who must pay the market price for the land which they use, and it is not now considered appropriate.
12th December 1977
COUNCIL CHAMBER