Mode of disposal. Extent. May be resumed for settlement. Homestead Saving for improvements. Leases may be for 21 years. Disqualification for holding pastoral leases.
are disposed of by auction, at an upset rental, not later than twelve months before the expiration of existing leases. Generally no larger extent is offered in one lot than is sufficient to carry all the year round 5.000 sheep or 1,000 head of cattle. If any of the land in a run is required for settlement it can be resumed on twelve months' notice without compensation. Any licensee can select 150 acres for a homestead, which cannot be resumed during the currency of his lease. If a licensee does not acquire his run when it is again submitted to auction, he is entitled to compensation for his improvements, not exceeding in amount three times the amount of the average annual rental paid under the existing lease, the compensation to be paid by the incoming licensee. Leases may be for a period of 21 years. No person who holds land capable of carrying 20,000 sheep or 4,000 head of cattle can take up a pastoral lease. This does not affect mortgages if a sale is effected within three years from the date of taking possession.