(1) The Governor General acting on the advice of Cabinet may lease any land including areas of the foreshore and seabed for the purposes of aquaculture, if he or she is satisfied after such enquiry as he or she may deem necessary that such lease will not substantially prejudice the rights of the members of the public thereto and such lease shall be in conformity with any regulations made under section 39 relating to the leasing of land for aquaculture.
(2) The provisions of the Crown Lands Act shall apply, with the necessary modifications, to the leasing of lands including foreshore and seabed for the purposes of aquaculture under this section.
(3) Despite any provisions of the Crown Lands Act the Minister shall, by notice published in the Gazette give particulars of any lease granted under subsection (1) giving the boundaries of the area leased and the Minister may restrict and control by regulations made under section 39, the use of such land including foreshore or sea-bed by members of the public.