(1) VicTrack may grant to a person who is a tourist and heritage railway operator, or who intends to be a tourist and heritage railway operator, a lease in respect of any land vested in VicTrack that is used, or proposed to be used, by the person in connection with the provision of historical and heritage related rail services.
(2) A lease of land granted under subsection (1) must include the following—
(a) a description of the land;
(b) a list of all fixtures to the land;
(c) the term of the lease;
(d) the process for renewing the lease;
(e) the amount of annual rent (if any) payable;
(f) for any tourist and heritage rail assets that are owned by the State and listed as fixtures to the land—
(i) the insurance arrangements for those rail assets; and
(ii) the maintenance responsibilities for those rail assets;
(g) a holding over provision to enable the lease to continue if, after the term of the lease, the lease is not renewed;
(h) the reclamation rights of the lessor including the notice required to be given to the lessee and any compensation payable;
(i) the circumstances under which the land may be sublet and the procedures for doing so.
(3) The amount of rent payable under a lease granted under subsection (1) must not be more than a nominal amount.