724   Special provisions concerning leases of land owned by the Crown

(1)  This section applies to a leasehold estate under a lease that may be transferred at law in land owned by the Crown.

(2)  A conveyance or transfer under this Division of a leasehold estate to which this section applies vests the leasehold estate in the purchaser freed and discharged from all trusts, obligations, estates, interests, contracts and charges, and rates and charges under this or any other Act, but subject to:

(a)  any debt payable to the Crown, and

(b)  any liability for any breach before the conveyance or transfer of the lease, and

(c)  the provisions of the Crown Lands Act 1989, the Crown Lands (Continued Tenures) Act 1989 and the Western Lands Act 1901 applicable to the leasehold estate.