Rumor floating around the Agricultural Department has —
The Government Land Reform Committee releasing its report on June 16.
The report will suggest scrapping ALTA and NALTA and all current leases will be renewed under new rules.
Leases will be issued for periods of up to 75 years.
A revamped NLTB will be able to issue leases on any native land that has no approved development plan registered with them by December 2010.
If the development plan is not actioned the land will revert to the new NLTB for leasing.
The revamped NLTB will also be able to lease reserve land and state land for cane farming.
The tenants will be able to use the land as security at financial institutions and the banks will be able to foreclose and take possession of the land for the remainder of the term of the lease.
The lease will be fully transferable and able to be sold.
The lease payment will be kept low enough for sugar farming to be economic.
As sugar farming becomes more profitable (as if) the lease amount will increase.
It will be a criminal offense for land owners to interfere with the lessees rights of ownership of the land for the term of the lease.