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\par THE COOK ISLANDS
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 (LAND DIVISION)}{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 App No. }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid14166260\charrsid11214736 335/11}{\rtlch\fcs1 \af0 \ltrch\fcs0 
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\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid14166260\charrsid11214736 336/11
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 IN THE MATTER}{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid14166260\charrsid11214736 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 \ltrch\fcs0 
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\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 AND}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 IN THE MATTER}{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid14166260\charrsid11214736 of an application by the lessor NGAMATA MAKEA to determine the market rental of land pursua
nt to a Deed of Lease dated 11 November 1983 of the land known as POROITITARA SECTION 190T2A, AVARUA now vested in EVELYN McMAHON}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par AND}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid14166260\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid14166260\charrsid11214736 IN THE MATTER}{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid14166260\charrsid11214736 of an application by the lessor TOMASINA MURRAY to determine the market rental of land pursuant to a Deed
 of Lease dated 17 December 1985 of the land known as POROITITARA SECTION 190T2B, AVARUA now vested in EVELYN McMAHON}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 
\par 
\par }\pard \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid5991406\charrsid11214736 Hearing}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid5991406\charrsid11214736 :}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid14166260\charrsid11214736  22 April 2013}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\lang2057\langfe5129\langnp2057\insrsid5991406\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid5991406\charrsid11214736 Judgment:}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid5991406\charrsid11214736  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\lang2057\langfe5129\langnp2057\insrsid2981322\charrsid11214736 29}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid14166260\charrsid11214736  August 2013}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\lang2057\langfe5129\langnp2057\insrsid5991406\charrsid11214736 
\par }\pard\plain \ltrpar\s29\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \fs24\cf1\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \cf0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 
\par }\pard \ltrpar\s29\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \b\ul\cf0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 DECISION }{\rtlch\fcs1 \af0 
\ltrch\fcs0 \b\ul\cf0\lang2057\langfe5129\langnp2057\insrsid7360343\charrsid11214736 OF JUSTICE W W ISAAC}{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\ul\cf0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 
\par }\pard \ltrpar\s29\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \cf0\lang2057\langfe5129\langnp2057\insrsid13251521\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \cf0\lang2057\langfe5129\langnp2057\insrsid5660987\charrsid11214736 The application}{\rtlch\fcs1 \af0 \ltrch\fcs0 \cf0\lang2057\langfe5129\langnp2057\insrsid15609095\charrsid11214736 s}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\cf0\lang2057\langfe5129\langnp2057\insrsid5660987\charrsid11214736  before the Court are as follows:}{\rtlch\fcs1 \af0 \ltrch\fcs0 \cf0\lang2057\langfe5129\langnp2057\insrsid7096010\charrsid11214736 
\par }\pard \ltrpar\s29\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \cf0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5660987\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (i)\tab}}\pard\plain \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f1\fs22\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5660987\charrsid11214736 An application by Ngamata Makea to determine the market rental of the land known as Poroititara Section 190T2A, Avarau pursuant to a Deed of Lease dated 11 November 1983 (
}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 "}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5660987\charrsid11214736 the Makea lease}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 "}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5660987\charrsid11214736 ).
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5660987\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (ii)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5660987\charrsid11214736 
An application by Thomasina Murray to determine the market rental of the land known as Poroititara Section 190T2B, Avarua pursuant to a Deed of Lease dated 17 December 1985 (}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 "}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5660987\charrsid11214736 the Murray lease}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 "}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5660987\charrsid11214736 ).
\par }\pard \ltrpar\s15\ql \li1211\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1211\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6564480\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [2]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6564480\charrsid11214736 
The Makea lease contains 1037 metres squared and the Murray lease contains 1000 metres squared. Situated on both these blocks is the tourist accommodation known as Ariana Bungalows.
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6564480\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [3]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6564480\charrsid11214736 
The rental review provisions for both leases is identical and is set out as follows: 
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0\afs22 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6564480\charrsid11214736 
For and during each succeeding period of five years of the said}{\rtlch\fcs1 \af0\afs22 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid7480380\charrsid11214736  term annual rentals as shall 
be agreed upon by the Lessor and Lessee and failing agreement at such rentals as shall be fixed by arbitration in accordance with the Arbitration Act 1908 such rentals to be based upon then current market rentals for comparable land after deducting theref
rom the value of all improvements effected by the Lessee thereon and the terms conditions and provisions of this Deed but to be not less than the rental payable for the preceding five years. }{\rtlch\fcs1 \af0\afs22 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid6564480\charrsid11214736 
\par }\pard\plain \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f37\fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0\afs22 
\ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid7480380\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [4]\tab}}\pard\plain \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f1\fs22\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid7480380\charrsid11214736 The applications were heard by me at Rarotonga on 22 April 2013. Mr Moore appeared as agent for the applicant in both cases and Mrs Browne as counsel for the respondent.
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [5]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 The Court also requested that }{
\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid7480380\charrsid11214736 Mr Desmond Eggleton an engineering consultant }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 
give }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid7480380\charrsid11214736 independent expert valuation evidence on the appropriate rentals for those properties.
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid7480380\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [6]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid7480380\charrsid11214736 Mr Moore}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736  }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9311650\charrsid11214736 filed}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736  further submissions following the Court hearing as invited,}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid7480380\charrsid11214736  Mrs Browne }{
\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 chose not to and relied on earlier submissions. }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid7480380\charrsid11214736 

\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 Desmond Eggleton}{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid11214736 '}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 s Assessment}{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [7]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 
Mr Eggleton set out his assessment to the Court in written form by letter dated 18 March 2012.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid4457645\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [8]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 In his assessment Mr Eggleton }{
\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 comment}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 ed as follow}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 s}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 :}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (a)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls2\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 
Capital growth on land in Rarotonga rose strongly in the 1990s }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 and }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 into the 2000s.
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (b)\tab}The market has softened over the past couple of years.
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (c)\tab}
The figure 3% of capital value in the 1980s reflected the then trend of inland leases being used more for residential purposes.
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (d)\tab}}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 The sections have supported a commercial operation since the mid 1980s.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid7033152\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (e)\tab}}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 The leases are the older style and do not provide any commercial turnover percentage payment to land owners. }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (f)\tab}Recent leases provide between 1.5% to 2.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 5% turnover going to landowners.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736  Given this}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid9311650\charrsid11214736 ,}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736  it is fair and reasonable that ren
tal be calculated on a basis of 5% of capital/market value.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [9]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 
On this basis the rentals suggested were:
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (a)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls3\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 Section 190T2A:
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li1418\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1418\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 1998 \tab \tab 
Confirmed rental $500
\par 2003\tab \tab Capital value $20740 rental $1037
\par 2008 \tab \tab }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 Capital}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736  value $36295 rental $1452

\par 2013\tab \tab Capital value $36295 rental $1815
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12985122\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (b)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls3\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 Section 190T2B:
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li1418\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1418\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 2006 \tab \tab 
Confirmed rental $600
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 2011 \tab \tab Capital value $28}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 
000 rental $1400.
\par }\pard\plain \ltrpar\ql \fi-360\li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f37\fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 
\af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [10]\tab}}\pard\plain \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f1\fs22\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 On 22 April 2013, Mr Eggleton was questioned by Mr Moore, Mrs Browne and the Court}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736  in relation to his recommendations. He clarified his postion in the following way:}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid10308652\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (i)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 
His approach is comparable around the whole island as the capital value is dependent on the location, the topography, the access and the utilities available. The
refore citing 5% of the capital value is a fair and reasonable approach at any point around the island on any piece of land.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (ii)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 
When the lease in question was determined there was no percentage of turnover on the lease for the landowner.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (iii)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 Differen
t situation require different approaches by the 5% of capital value is the fairest approach.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (iv)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 
It does not matter the particular formula provided in the lease document for the rent reviews in that he believes that we are moving more and more to a comparable basis to using the 5% factor of capital or market value.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (v)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 
The percentage of capital value determines a fair calculation of rental irrespective of where it is on the island. Comparative rentals do not mean the rentals have to be in the same location.
\par }\pard\plain \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f37\fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }\pard\plain \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f1\fs22\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 Submissions for the applicant
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [11]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 The applicant}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid11214736 '}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid3232452\charrsid11214736 s}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736  submissions can be summarised as follows: 
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (i)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 The Court should look beyond }
{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 "}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 a stone}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid11214736 '}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 s throw}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 "}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 
 comparison and look right around the land of Rarotonga to discover comparable property when conducting a rent review when the market rentals of comparable land is the basis for such a review.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid3688769\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (ii)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 
This being the case the comparison already submitted to the Court being Onemaru 83E1B2 Lot 9 is a strong comparable for this Court to consider.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (iii)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 
Also a decision of the Court dated 15 April 2013 in respect to Onemaru Lots 1 and 2 each containing 796 square metres and fixing the rental as at 2010 at $1350 or $1.69 per square metre is significant.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (iv)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 
The Court also in 15 April 2013 also fixed the market rental of Tuaana 91R2A comprising 3600 square metres as at 2011 at $4222.80 per annum or $1.17 per square metre.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (v)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 It is submitted by Mr Moor
e that Mrs Browne}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid11214736 '}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 s only argument as to Onemaru Lot 9 }{
\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9311650\charrsid11214736 would }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 not }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid9311650\charrsid11214736 be }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 a valid comparable was}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid9311650\charrsid11214736  that}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736  its location }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid9311650\charrsid11214736 was }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid6511770\charrsid11214736 on the other side of the island from the Makea and Murray leases.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (vi)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 Mr Moore }{\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9311650\charrsid11214736 also }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 supported the assessment made by Mr Eggleton.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (vii)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 Mr Mo
ore proposed the following:
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 Makea lease 
\par }\pard\plain \ltrpar\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f37\fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\ul\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }\pard\plain \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f1\fs22\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 2003 adjusted at 5% per annum being 96 cents per square metre = $989.26.
\par 2008 adjusted at 5% per annum being $1.30 per square metre = $1355.09
\par }\pard\plain \ltrpar\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f37\fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }\pard\plain \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f1\fs22\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 Murray lease
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 2011 adjusted at 5% per annum being $1.59 per square metre = $1594.87
\par }\pard\plain \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f37\fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }\pard\plain \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f1\fs22\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 Submissions for the respondent}{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [12]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 
The written submissions of counsel for the lessee are dated 31 January 2012 have not been added to and the Court relies on these submissions.
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [13]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 
In summary the submissions are as follows:
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (i)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 
The comparison given by Mr Moore in relation to Onemaru Section 83B129 is not relevant because of its location being on the oppoiste side of the island.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (ii)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 
Reference is made to the decision of Savage J dated 8 July 2010 in respect to part Enuakura Section 205A1}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid15286464\charrsid11214736 ,}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736  Avaraua, which looked at similarity in location, size and being within the }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736 same}
{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736  rental band. In that case counsel says that the comparative sections which were drawn to the Courts attention were }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid15286464\charrsid11214736 sections in the same location.}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid2233299\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid15286464\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (iii)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid15286464\charrsid11214736 
Counsel also referred to the decisions of Smith J of 14 March 2001}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid1521292\charrsid11214736  being Puatiki Section 84B, A}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid11478175\charrsid11214736 r}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid1521292\charrsid11214736 o}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid15286464\charrsid11214736 rangi}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid1521292\charrsid11214736 
 which referred to the formula for determination of rental at 5% of the value of the unimproved land and said that this is the manner in which the Courts in Rarotonga have customarily determined rentals on review and this Court sees no reason to depart fr
om this system. In that case counsel says that the properties compared the properties were adjourning or the in the vicinity of the subject lease.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (iv)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 Also in judgment of Savage J}{
\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid1521292\charrsid11214736  on 11 October 2011 dealing with an application to determine current market rental in respect to}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736  Vaikeri and Rautai S190Q2B, Avarua which is on the seaward side of}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 
 the road almost opposite the Ma}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 
kea and Murray leases this is considered an appropriate comparative rental. The rental for this property was fixed as follows: 1983 as at $275.00, 1988 as at $350.00, 1993 as at $450.00, 1998 as at $550.00, 2003 as at $650.00 and 2008 as at $750.00.}{
\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid1521292\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (v)\tab}}\pard \ltrpar
\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\ilvl1\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 As a re}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 sult counsel submits that the Ma}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 kea lease as at 1 Decem}{
\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9311650\charrsid11214736 ber 2008 should be fixed at $660}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 
.00 and for the Murray lease should be fixed at $750.00.
\par }\pard \ltrpar\s15\ql \li567\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin567\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid15302120\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 Discussion
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [14]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 
In respect to fixing a fair and reasonable rental for properties I }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 consider}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736  the approach which currently exists }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 of}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736  providing the Court with as many comparables as possible }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736 with}{\rtlch\fcs1 
\af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736  supporting submissions}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736  at times results in}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736  arbitrary and}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid12266847\charrsid11214736  inconsistent}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736  results. }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [15]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 
As I have previously stated I do not purport to be an expert in valuation and would prefer to defer to evidence and recommendations of such an expert when determining market rentals. Previously some Judges have a
ttempted this approach and others have not. However it is my view that the approach taken by Mr Eggleton will not only result in fair and reasonable assessment of market rental but will also provide a consistency of approach from this Court and a consiste
ncy of decision making. 
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [16]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 In Mr Eggleton}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid11214736 '}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 s approach}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid9311650\charrsid11214736 ,}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736  t}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid5850756\charrsid11214736 he comparatives that will be taken into account will be those factors to be considered when}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736  determining the capital value or market value of the property. These factors as set out by Mr Eggleton inc
lude location, topography, access and the utilities available to a property. Once the capital value is assessed }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 by }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736 taking into account }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 these}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736  factors then 5% of the capital value can be attached to any property at any location around the island to determine what is fair and reasonable.
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [17]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736 
As stated by Mr Eggleton the 5% is considered as being reasonable in all the circumstances}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736  of this case}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736 . This is supported by Judge Smith decision in 2001 in relation to Puatiki Section 84B, Aorangi where he says the 5% 
formula is the manner in which the Courts in Rarotonga have customarily determined rentals on review and the Court sees no reason to depart from this system.
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [18]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 
Mr Eggleton was questioned in Court by both counsel and maintained that his approach would provide a fair and reasonable result for comparable rental across Rarotonga.
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [19]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 As indicated earlier }{\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736 I support such a}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 n approach}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736  and agree with Mr Eggleton that this would provide a fair and reasonable rental for properties at any point around the island and on any piece of land.}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736  It would also provide some degree of certainty for Lessors and Lessees and also bring valuation expertise into the calculation which has at times been lacking.}{\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736 
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [20]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736 As a result I adopt Mr Eggleton}{
\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid11214736 '}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid280584\charrsid11214736 
s recommendation and determine the rental for the above properties as follows:
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (a)\tab}}\pard \ltrpar
\s15\ql \fi-566\li1276\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls4\adjustright\rin0\lin1276\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 Section 190T2A}{
\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736  (Makea lease)}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 :
\par }\pard \ltrpar\s15\ql \li1276\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1276\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }\pard \ltrpar\s15\ql \fi556\li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 2003\tab \tab 
Capital value $20740 rental $1037
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736 2008 \tab \tab Captial value $29036}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736  rental $1452

\par 2013\tab \tab Capital value $36295 rental $1815
\par }\pard\plain \ltrpar\ql \fi-360\li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f37\fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 
\af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 \hich\af0\dbch\af0\loch\f0 (b)\tab}}\pard\plain \ltrpar
\s15\ql \fi-567\li1276\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls4\adjustright\rin0\lin1276\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f1\fs22\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 Section 190T2B}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid9197438\charrsid11214736  (Murray lease)}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 :
\par }\pard \ltrpar\s15\ql \li1276\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin1276\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }\pard \ltrpar\s15\ql \fi556\li720\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 2011 \tab \tab 
Capital value $28000 rental $1400.
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 Cost}{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid9311650\charrsid11214736 s}{\rtlch\fcs1 \af0 \ltrch\fcs0 
\b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [21]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid5832793\charrsid11214736 
Mr Moore for the applicants has asked that costs be reserved. Should Mr Moore wish to progress an application for costs he is to file submission within 21 days of this decision and Mrs Browne is to respond within 14 days.
\par }\pard \ltrpar\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736 
\par {\listtext\pard\plain\ltrpar \s15 \rtlch\fcs1 \af0 \ltrch\fcs0 \lang2057\langfe5129\langnp2057\insrsid11018278\charrsid11214736 \hich\af0\dbch\af0\loch\f0 [22]\tab}}\pard \ltrpar
\s15\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\ls1\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\fs24\lang2057\langfe5129\langnp2057\insrsid11018278\charrsid11214736 A copy of this decision to g
o to all parties. 
\par }\pard\plain \ltrpar\ql \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 \rtlch\fcs1 \af0\afs24\alang1025 \ltrch\fcs0 \f37\fs24\lang5129\langfe5129\cgrid\langnp5129\langfenp5129 {\rtlch\fcs1 \af0 
\ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid13251521\charrsid11214736 Dated at Wellington}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\lang2057\langfe5129\langnp2057\insrsid13251521\charrsid11214736 this}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid8084965\charrsid11214736  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\lang2057\langfe5129\langnp2057\insrsid13251521\charrsid11214736 \tab }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736  }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\lang2057\langfe5129\langnp2057\insrsid7675878\charrsid11214736 th }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 day of }{\rtlch\fcs1 \af0 \ltrch\fcs0 
\f0\lang2057\langfe5129\langnp2057\insrsid7675878\charrsid11214736 \tab }{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 \tab 2013.
\par 
\par }\pard \ltrpar\qc \li0\ri0\nowidctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid11214736 {\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 
\par _________________}{\rtlch\fcs1 \af0 \ltrch\fcs0 \f0\ul\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 
\par }{\rtlch\fcs1 \af0 \ltrch\fcs0 \b\f0\lang2057\langfe5129\langnp2057\insrsid7081934\charrsid11214736 W W Isaac
\par JUSTICE
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