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{\fdbmajor\f31525\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}{\fdbmajor\f31526\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}
{\fhimajor\f31528\fbidi \froman\fcharset238\fprq2 Cambria CE{\*\falt Cambria};}{\fhimajor\f31529\fbidi \froman\fcharset204\fprq2 Cambria Cyr{\*\falt Cambria};}{\fhimajor\f31531\fbidi \froman\fcharset161\fprq2 Cambria Greek{\*\falt Cambria};}
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{\fbimajor\f31545\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}{\fbimajor\f31546\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}
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{\flominor\f31555\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}{\flominor\f31556\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}
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{\fdbminor\f31561\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times New Roman};}{\fdbminor\f31562\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times New Roman};}
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{\fdbminor\f31565\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}{\fdbminor\f31566\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}
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{\fhiminor\f31571\fbidi \fswiss\fcharset161\fprq2 Calibri Greek{\*\falt Arial Rounded MT Bold};}{\fhiminor\f31572\fbidi \fswiss\fcharset162\fprq2 Calibri Tur{\*\falt Arial Rounded MT Bold};}
{\fhiminor\f31575\fbidi \fswiss\fcharset186\fprq2 Calibri Baltic{\*\falt Arial Rounded MT Bold};}{\fhiminor\f31576\fbidi \fswiss\fcharset163\fprq2 Calibri (Vietnamese){\*\falt Arial Rounded MT Bold};}
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\mwrapIndent1440\mintLim0\mnaryLim1}{\info{\title C}{\author User}{\operator raikatalau_l}{\creatim\yr2014\mo6\dy27\hr10\min50}{\revtim\yr2014\mo7\dy8\hr9\min52}{\printim\yr2013\mo4\dy22\hr14\min38}{\version6}{\edmins5}{\nofpages4}{\nofwords1849}
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\pard\plain \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0 \ltrch\fcs0 \insrsid6580252 
\chftnsep 
\par }}{\*\ftnsepc \ltrpar \pard\plain \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \insrsid6580252 \chftnsepc 
\par }}{\*\aftnsep \ltrpar \pard\plain \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \insrsid6580252 \chftnsep 
\par }}{\*\aftnsepc \ltrpar \pard\plain \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \insrsid6580252 \chftnsepc 
\par }}\ltrpar \sectd \ltrsect\linex0\headery709\footery709\colsx708\endnhere\titlepg\sectlinegrid360\sectdefaultcl\sectrsid5927350\sftnbj {\headerl \ltrpar \pard\plain \ltrpar\s16\ql \li0\ri0\widctlpar
\tqc\tx4153\tqr\tx8306\pvpara\phmrg\posxc\posy0\wraparound\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5066030 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\field{\*\fldinst {
\rtlch\fcs1 \af0 \ltrch\fcs0 \cs18\insrsid5574545 PAGE  }}{\fldrslt }}\sectd \ltrsect\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \af0 \ltrch\fcs0 \cs18\insrsid5574545 
\par }\pard \ltrpar\s16\ql \li0\ri0\widctlpar\tqc\tx4153\tqr\tx8306\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\rtlch\fcs1 \af0 \ltrch\fcs0 \insrsid5574545 
\par }}{\headerr \ltrpar \pard\plain \ltrpar\s16\ql \li0\ri0\widctlpar\tqc\tx4153\tqr\tx8306\pvpara\phmrg\posxc\posy0\wraparound\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5066030 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 
\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\field{\*\fldinst {\rtlch\fcs1 \af0 \ltrch\fcs0 \cs18\insrsid5574545 PAGE  }}{\fldrslt {\rtlch\fcs1 \af0 \ltrch\fcs0 \cs18\lang1024\langfe1024\noproof\insrsid6847059 4}}}\sectd \ltrsect
\linex0\endnhere\sectdefaultcl\sftnbj {\rtlch\fcs1 \af0 \ltrch\fcs0 \cs18\insrsid5574545 
\par }\pard \ltrpar\s16\ql \li0\ri0\widctlpar\tqc\tx4153\tqr\tx8306\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 {\rtlch\fcs1 \af0 \ltrch\fcs0 \insrsid5574545 
\par }}{\*\pnseclvl1\pnucrm\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl2\pnucltr\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl3\pndec\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl4\pnlcltr\pnstart1\pnindent720\pnhang {\pntxta )}}
{\*\pnseclvl5\pndec\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl6\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl7\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl8
\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl9\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}\pard\plain \ltrpar
\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 
\b\lang2057\langfe1033\langnp2057\insrsid3478551\charrsid16398931 IN THE HIGH COURT OF THE COOK ISLANDS
\par }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid3868447\charrsid16398931 HELD AT }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid2844156\charrsid16398931 RAROTONGA}{\rtlch\fcs1 \af0\afs23 
\ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid3478551\charrsid16398931 
\par (LAND DIVISION)
\par }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16216426 APPLICATION NO. 373/12
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid16398931\charrsid16398931 
\par }\pard \ltrpar\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 IN THE MATTER}{\rtlch\fcs1 
\af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 
of Section 409B of the Cook Islands Act 1915 (as inserted by Section 2 of the Cook Islands Amendment Act 1978-79)}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid14968906 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid16398931\charrsid16398931 
\par }\pard \ltrpar\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid394880\charrsid16216426 AND
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid16398931\charrsid16398931 
\par }\pard \ltrpar\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 IN THE MATTER}{\rtlch\fcs1 
\af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 of the land known as }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 
\lang2057\langfe1033\langnp2057\insrsid4489203 
\par }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 TUAANA 9}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid3372497\charrsid16398931 1}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 
\b\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 R2A, ARORANGI}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid14968906 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid16398931\charrsid16398931 
\par }\pard \ltrpar\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16216426 AND
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid16398931\charrsid16398931 
\par }\pard \ltrpar\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 IN THE MATTER}{\rtlch\fcs1 
\af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 of an application}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 
\lang2057\langfe1033\langnp2057\insrsid13659704\charrsid16398931  }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 
to Determine Market Rental of land pursuant to a Deed of Lease dated 13th January 1987 (as Varied and Amended by a Deed executed by the Lessor on 19 December 2005 and by the Lessee 10 March 2006); by }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 
\b\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 THOMASINA MURRAY}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid14968906 
\par }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16216426 Applicant
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 
\par }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16216426 Date of hearing:}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid16398931\charrsid16216426  }{\rtlch\fcs1 \af0\afs23 
\ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 15 April 2013
\par 
\par }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16216426 Counsel:}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 
\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 Mr B Mason for the Applicant}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid2706450\charrsid16398931  (Lessor)}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 
\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 
\par }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 Mr M Scowcroft for the Lessee
\par 
\par }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16216426 Date:}{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 
\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16398931 19 April 2013
\par }{\rtlch\fcs1 \af0\afs23 \ltrch\fcs0 \lang2057\langfe1033\langnp2057\insrsid16398897\charrsid16398931 
\par }\pard\plain \ltrpar\s8\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\outlinelevel7\adjustright\rin0\lin0\itap0\pararsid16398931 \rtlch\fcs1 \af0\afs20\alang1025 \ltrch\fcs0 \b\caps\f1\fs24\lang5129\langfe1033\cgrid\langnp5129\langfenp1033 {
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\ul\lang2057\langfe1033\langnp2057\insrsid2706450\charrsid16216426 {\*\bkmkstart _Toc170554316}{\*\bkmkstart _Toc170554337}RESERVED }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\ul\lang2057\langfe1033\langnp2057\insrsid14968906\charrsid16216426 decision}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\ul\lang2057\langfe1033\langnp2057\insrsid1583070\charrsid16216426  of {\*\bkmkstart judge}{\*\bkmkend _Toc170554316}
{\*\bkmkend _Toc170554337}{\*\bkmkend judge}ISAAC}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \f0\ul\lang2057\langfe1033\langnp2057\insrsid9124359\charrsid16216426  J}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\f0\ul\lang2057\langfe1033\langnp2057\insrsid1583070\charrsid16216426 
\par }\pard\plain \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 \rtlch\fcs1 \af0\afs20\alang1025 \ltrch\fcs0 \fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \b\lang2057\langfe5129\langnp2057\insrsid16398931 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \b\lang2057\langfe5129\langnp2057\insrsid14968906\charrsid16398931 Introduction}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \b\lang2057\langfe5129\langnp2057\insrsid14968906 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \b\lang2057\langfe5129\langnp2057\insrsid16216426\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid13659704\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [1]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13659704\charrsid16398931 
This is an application to determine the market rental of Tuaana Section 91R2A}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 
, Arorangi pursuant to a deed of lease dated 13 January 1987 as varied and amended by a deed executed by the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid8935257\charrsid16398931 L}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 essor on 19 December 2005 of the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid8935257\charrsid16398931 L}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 essee 10 March 2006).}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid3372497\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [2]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 The appl
icant is Thomasina Murray who is the sole owner of this land.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid3372497\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [3]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 
In terms of the Deed of Variation the rental for 5 years from 1 October 2001 to 30 September 2006 as agreed to by the parties was $2000.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid3372497\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [4]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 
The rental for the period for 5 years from 1 October 2011 is now due and despite some attempts at negotiation the parties cannot agree to }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5182182\charrsid16398931 the }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 rental}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5182182\charrsid16398931  that should be paid}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid1583070\charrsid16398931 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid1583070 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid3372497\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [5]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 
The applicant has now brought this application in terms of s 409B of the Cook Islands Act 1915 seeking the Court}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 s assistance to determine the rental as at 1 October 2011.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid3372497\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [6]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 
The application was heard on the 15th April 2013 and at that time submissions were presented by counsel for the applicant (}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid8935257\charrsid16398931 L}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 essor) and counsel for the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid8935257\charrsid16398931 L}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 essee.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid3372497\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [7]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 
It should be noted that while those submissions rely on prior written submission presented to the Court, in both cases counsel refine}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5182182\charrsid16398931 d}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931  their respective positions}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5182182\charrsid16398931  in their oral presentations}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid3372497\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [8]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 
The background to the present lease situation is not at issue.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 
What is at issue }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5182182\charrsid16398931 are}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931  the appropriate comparable}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5182182\charrsid16398931  lease}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497\charrsid16398931 
s that should be used and the relevant factors which should be taken into account by the Court in determining the current market rental for this land.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3372497 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\lang2057\langfe5129\langnp2057\insrsid6039188\charrsid16398931 Discussion
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid13831628\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [9]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 
At the commencement of the hearing I suggested that expert valuation evidence be obtained to recommend a market rental.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 This was not accepted by counsel and I was asked to proceed on the basis of counsel}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931 '}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 s submissions without any proper evidence.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 I will now do so.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid6039188\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [10]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6039188\charrsid16398931 
In relation to determining the rental for this land }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 it was accepted that }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid6039188\charrsid16398931 the starting point is the }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12153872\charrsid16398931 D}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid6039188\charrsid16398931 eed of }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12153872\charrsid16398931 L}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid6039188\charrsid16398931 ease itself.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6039188\charrsid16398931 
This provides as follows:}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6039188 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid6039188\charrsid16398931 \hich\af0\dbch\af0\loch\f0 a)\tab}}\pard \ltrpar
\s26\ql \li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin720\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6039188\charrsid16398931 
for and during the first 5 years of the said term an annual rental of ONE THOUSAND FIVE HUNDRED DOLLARS ($1500) payable always in advance.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6039188 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid9259814\charrsid16398931 \hich\af0\dbch\af0\loch\f0 b)\tab}}\pard \ltrpar
\s26\ql \li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin720\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9259814\charrsid16398931 
for and during each succeeding period of 5 years of the said term annual rentals shall be agreed upon by the }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9244139\charrsid16398931 L}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid9259814\charrsid16398931 essor and the }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9244139\charrsid16398931 L}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid9259814\charrsid16398931 
essee or failing agreement at such rentals to be based upon then current market rentals for comparable unimproved land of a similar value to the said land in its unimproved condition and the terms and conditions and provision of this Deed but t
o be not less than the annual rental payable for the preceding 5 years.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9259814\charrsid16398931 
Such rentals to be paid on the 1st day of October in each and every year of the said term.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6039188 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid9259814\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [11]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9259814\charrsid16398931 Firstly}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid12153872\charrsid16398931 ,}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931  it should be noted that }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid9259814\charrsid16398931 the parties have failed to }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12153872\charrsid16398931 reach agreement.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12153872\charrsid16398931 The final offers that were made }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 as recorded in the written submissions }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12153872\charrsid16398931 ended with the Lessor offering $10}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3959903\charrsid16398931 ,}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12153872\charrsid16398931 000 as an appropriate rental and the Lessee $2840.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12153872\charrsid16398931 However in the submissions presented to the Court, counsel for the Lessor submitted that $4968 was }{
\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 an }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12153872\charrsid16398931 appropriate }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 rental }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12153872\charrsid16398931 and counsel for the Lessee submitted that there should be no increase.}{\rtlch\fcs1 
\af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9259814 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid3959903\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [12]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3959903\charrsid16398931 
The revised positions were arrived at by reference to the comparable leases relied on}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931  by each counsel and in doing so both }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid4065938\charrsid16398931 counsel relied on the decision of Savage J in the }{\rtlch\fcs1 \af0 \ltrch\fcs0 \i\ul\lang2057\langfe5129\langnp2057\insrsid9244139\charrsid16398931 Enuakura Section 205A No.1}{\rtlch\fcs1 
\af0 \ltrch\fcs0 \i\ul\lang2057\langfe5129\langnp2057\insrsid4065938\charrsid16398931  Avarua}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4065938\charrsid16398931  case, application 375/2009.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4065938\charrsid16398931 When referring to matters to consider in determining market rental Savage J stated:}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12153872 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par }\pard \ltrpar\s26\ql \li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931 "}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid4065938\charrsid16398931 They are first, that looking at comparable properties and leases to gauge rental one must look at similarity in location, size and within the same rental bank.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4065938\charrsid16398931 Secondly, to observe that some properties are not helpful for comparison because there is a trad
e off between the level of upfront payment for le}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9244139\charrsid16398931 a}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4065938\charrsid16398931 
se and the rental itself.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931 "}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4065938 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid4065938\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [13]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4065938\charrsid16398931 I agree with these considerations and }{
\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 now }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4065938\charrsid16398931 examine the comparables given }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 by each counsel }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4065938\charrsid16398931 bearing in mind }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid14247119\charrsid16398931 the factors }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 set out in the }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\i\ul\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 Enuakura}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931  case and other factors raised by }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16323502\charrsid16398931 both }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 counsel as relevant to the present case}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid14247119\charrsid16398931 .}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4065938 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid13831628\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [14]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 The comparisons used by the Lessor included:}{
\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid14247119 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid13831628\charrsid16398931 \hich\af0\dbch\af0\loch\f0 a)\tab}}\pard \ltrpar
\s26\ql \li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin720\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \ul\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 Polynesian Rentals}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931  \endash  This is vacant land in close proximity to the leased land but smaller being 894m2.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 The rental is $1000 per annum or $1.11 per square metre.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid13831628\charrsid16398931 \hich\af0\dbch\af0\loch\f0 b)\tab}}\pard \ltrpar
\s26\ql \li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin720\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \ul\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 Onemaru}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931  \endash  This is also vacant land}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 
 and is also close to the leased land.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 It }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 is 796m2 }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 and the rental is $1250 per annum }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 or $1.57 per square metre.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid13831628\charrsid16398931 \hich\af0\dbch\af0\loch\f0 c)\tab}}\pard \ltrpar
\s26\ql \li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin720\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \ul\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 Lot 10}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931  \endash  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 This land is also}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931  vacant }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 and close to the leased land.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 It}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 
 is 813m2 and the rental is $1200 per annum or $1.47 per square metre.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 The average for the }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 rentals}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931  is $1.38 }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 and when applied to the leased land}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 , }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 the rental would amount to}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931  $4968}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931  which is an appropriate }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid13831628\charrsid16398931 starting point.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid13831628 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid15279267\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [15]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 Counsel for the Lessor argues t
hat these properties are good comparisons because they are all similar properties to the leased land and are in the same location.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931 The major difference is the size and counsel acknowledges that the Court has in the past set a lower per meter rental for larger sections but that this factor is cancelled }{\rtlch\fcs1 
\af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 because}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931  large propert}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 ies}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15279267\charrsid16398931  such as this are rare and are sought after for major developments.}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9244139 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid9071252\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [16]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9071252\charrsid16398931 
Counsel for the Lessee maintains these comparables are not appropriate.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9071252\charrsid16398931 
In respect to the Polynesian }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 Re}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9071252\charrsid16398931 ntal}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 s}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9071252\charrsid16398931 
 lease he submits that although the Court order was completed on 1/2/2013, the lease had not been signed and it was dangerous to use this as a comparison.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9071252\charrsid16398931 He also maintains that the circumstances surrounding the negotiations were complex and the rental would have been the same if the land was $1000 or $5000.}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9071252 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid9071252\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [17]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9071252\charrsid16398931 
The negotiations between parties may affect the agreement reached between parties but they are not determinative to the Court }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 in }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid9071252\charrsid16398931 setting the rental.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931 Also the fact that the Polynesian Rental }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 lease }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931 has not been sealed does not change the order made by the Court.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931 I therefore do not accept the}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 se are valid}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931  reasons not to use the Polynesian Rental}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 s}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931  as a comparison.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9071252 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid15095914\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [18]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931 
Counsel for the Lessee also submitted that Lot 10 was not a good comparison.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931 
The reasons included the difference in size between the two properties and that it was useful to use leases with similar rental provisions. }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15095914 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid15095914\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [19]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931 
In terms of the size issue, the properties are very different.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931 
The leased land is 3600m2 and by comparison Lot 10 is 813m2.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931 
Also although counsel for the Lessee did not make submissions as to the size of Polynesian Rentals or submissions in respect to Onemaru, the sizes of those leases are 894m2 and 796m2 respectively}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931  and therefore considerably smaller than the leased property}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931 .}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid15095914 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid15095914\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [20]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15095914\charrsid16398931 
Counsel for the Lessor acknowledges that the Court has in the past set lower rates for larger sections but submits that large sections of this type are rare and are sought after for major developments.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 Also this lease property has a wide range of permitted uses including the building of unit titles.}{
\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15095914 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid5574545\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [21]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 While economies of scale would normally have a l
}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 ar}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
ger rental it is of some significant that larger properties such as the lease}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid11471257\charrsid16398931 d}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931  land are rare in such locations.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 This land would have many uses and its size would not }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 affect}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931  those uses.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
Therefore any deduction because of size would be small.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid5574545\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [22]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
In regard to using leases with similar rental provisions, counsel for the Lessee referred in particular to leases which contained provision for the Lessor to receive a percentage of income as well as rental.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid5574545 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid5574545\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [23]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
In the leased land and the examples given by the Lessee}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931 '}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
s counsel, namely the Seascape lease, and the Aroa lease, this was the case.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
Also in these two leases they were of a similar size to the leased land and therefore}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 ,}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 in the submission of counsel for the Lessee, }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 appropriate comparables.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 The Seascape lease received $1500 per annum or $0.32 per square metre in 2010 and the Aroa lease the rental i}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid11471257\charrsid16398931 n}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931  2001 was $0.29 per square metre.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 Therefore}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid11471257\charrsid16398931 ,}{
\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931  when applied to the lease}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 d property}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid11471257\charrsid16398931 ,}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931  the rentals would be $1152 and $1044 per annum respectively.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid5574545 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid5574545\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [24]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
Counsel for the Lessor submitted that these rentals were low and essentially peppercorn rentals because the properties received significant income from the percentage received from gross income.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
This was not the case for the present lease which although it had a percentage of income provision contained in the lease it had only received $284 since the Deed of Variation in 2005.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 Counsel for the Lessee
 maintains what is received is irrelevant as long as there is provision in the lease for this payment to occur.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid5574545\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [25]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 I do not agree.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 It is not comparing like with like.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 The Lessors of }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 
both}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931  Seascape and Aroa are virtually guaranteed a return on their leases irrespective of the rental which is agreed to.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 The present Lessors are not.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{
\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
They may have the percentage of income clause in their lease but have only received in the 5 years since the Deed of Variation $215.17 or approximately $43 per annum.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{
\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 By comparison the Seascape lessor received $22,800 per annum and the Aroa lessor $7000 per annum.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid5574545 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid5574545\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [26]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
As a consequence I do not consider the Seascape or Aroa lease are }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 ideal comparisons to use}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 .}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545\charrsid16398931 
They may be a similar size but are not in the same location and are not v}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 acant or in the same rental bank to use Savage J}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16398931 '}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 s terminology.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5574545 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid16071271\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [27]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 
Bearing in mind these arguments I prefer the comparables used by the Lessor as being vacant land in the same location and in the same rental bank.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 
\ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 In terms of the size matter as stated I think any deduction would be small.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid16071271\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [28]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 
As a result I accept the starting point submitted by counsel for the Lessor at $4968 with a deduction of 1}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 5}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 % for the size difference in the comparables given.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 This would mean that the rental would be $4}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 22}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 2.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 8}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 0 per annum.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid16071271\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [29]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 
In terms of s 409B of the Cook Islands Act 1915 the market rental for Tuaana Section 91R2A for the period of 5 years from 1 October 2006 is fixed at $42}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 22}{
\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 .}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid4605373\charrsid16398931 8}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 0 per annum.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271 
\par }\pard \ltrpar\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16398931\charrsid16398931 
\par {\listtext\pard\plain\ltrpar \s26 \rtlch\fcs1 \af0\afs20 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\langfenp5129\insrsid16071271\charrsid16398931 \hich\af0\dbch\af0\loch\f0 [30]\tab}}\pard \ltrpar
\s26\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid16398931 {\rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid16071271\charrsid16398931 
A copy of this decision is to be sent to all parties.
\par }\pard\plain \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \b\lang2057\langfe1033\langnp2057\insrsid15953760\charrsid16398931 
\par }\pard\plain \ltrpar\s26\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid16398931 \rtlch\fcs1 \af0\afs20\alang1025 \ltrch\fcs0 \fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \b\lang2057\langfe5129\langnp2057\insrsid5927350\charrsid16398931 Wilson Isaac, J}{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\lang2057\langfe5129\langnp2057\insrsid5927350 
\par }\pard\plain \ltrpar\s27\ql \li0\ri0\sb100\sa100\sbauto1\saauto1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid6847059 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 
{\rtlch\fcs1 \ab\ai\af0 \ltrch\fcs0 \b\i\insrsid6847059 Editorial Note:}{\rtlch\fcs1 \ai\af0 \ltrch\fcs0 \i\insrsid6847059  Derived from the Court\rquote s electronic records and believed to be correct and final.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\insrsid6847059 
\par }\pard\plain \ltrpar\s26\qj \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid6847059 \rtlch\fcs1 \af0\afs20\alang1025 \ltrch\fcs0 \fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \b\lang2057\langfe5129\langnp2057\insrsid6847059\charrsid16398931 
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