S.L. 573.15 Art. 8Term of emphyteutical concession or agricultural lease.  

(1) The term of the emphyteutical concession granted by the Authority in accordance with these regulations shall be fifty

(50) years commencing from the date of publication of the emphyteutical concession.

CONCESSIONS

(2) The term of the agricultural lease shall be for one (1) year which may be tacitly renewed on a yearly basis on the fifteenth (15) August of every year, subject that the Authority shall have the discretion to exercise any right according to law or in terms of the agricultural lease conditions.