Section 32 in The Rail Land Development Authority (Development of Land and Other Works) Regulations, 2012
32. Substitution of Lessee.
(1)A lessee may be substituted by the Authority -(a)in case of default by the lessee in making payments to its lenders in terms of financing agreement signed between them, by the party recommended by the lender; or(b)in case of default by the lessee under the lease agreement, by bringing in another party to take over the rights and responsibilities of the lessee in terms of the lease agreement.(2)In case of such substitution, all the contracts and agreements with the sub-lessees and contractors entered into by the lessee in terms of the lease agreement shall stand transferred and novated to the new entity and the lessee shall be entitled to a substitution payment as determined by the Authority or provided in the lease agreement.
