(c.) Leases in Perpetuity.

Lands selected on this tenure are leased for 999 years, subject to the conditions of residence and improvements described below. The rental is 4 per cent, on the cash price of the land, and applications are dealt with in the same way as under the previous tenure (b), but there is at no time a right of purchase.

Two or more persons may make a joint application to hold as tenants in common under either of the two last-named tenures.