41/ 136. |
The Public Trustee may from time to time, by notification in the Gazette, and in such, other manner as the Public Trustee thinks fit, offer any land, not being lands open under Part IV. of this Act, for lease by lender in areas not exceeding six hundred and forty acres, in the manner and upon the conditions mentioned in this Part of this Act. |
42/ 137. |
Every such notification shall fix the upset rental at which, and the time and place when and where, the land mentioned therein shall be open for leasing.
The time shall not be less than thirty days after the date of the notification.
In the case of rural land the upset rental shall not be less than per centum per annum upon a value not less than twenty shillings per acre for first-class land, and per centum per annum upon a value, of not less than five shillings per acre for second-class land.
The Public Trustee may, in any such notification, assign a price per acre to each block, or to each section within a block, and may, subject to a new notification
being given, and to the provisions of this Act fixing the minimum prices of land, raise or reduce such price. |
43/ 111. |
All town and suburban lands—
(1.) |
May be offered for lease in sections the size or extent and upset rental of which shall be fixed and determined by the Public Trustee, and subject to the condition that no town lands shall be let at a rate less than per centum per annum upon a value less than twenty pounds sterling per acre; and no suburban lands at less than per centum per annum upon a value of not less than two pounds per acre; or |
(2.) |
May, if not let within each time as the Public Trustee fixes, be let for any time not exceeding fourteen years, at a rent not less than five per centum on the value of such lands, subject that the lessee shall not have any right of compensation for improvements at the expiration of his lease. | |
44/ 157. |
Lands leased under this Part of this Schedule shall be held—
(1.) |
For a term of twenty-one years. Such terms shall be reckoned from the next first day of January or July following the date thereof, and shall, in addition, include the period between the date of the lease and such day. Such leases shall be renewable as hereinafter provided. |
(2.) |
The yearly rental in respect of such lease shall be payable in equal parts, half-yearly in advance, on the first day of January and the first day of July in each year, to the Public Trustee. | |
45/ 158. |
No lessee shall be capable of becoming the lessee under more than one lease unless the lands are of different classes, or unless the lands comprised in the several leases adjoin each other. Lands shall be deemed to adjoin each other if only separated by a road or stream, or such interval of space as the Public Trustee may determine in each case.
No lessee shall be capable of holding, whether solely or jointly with any other person or in partnership, in the case of rural land, more than six hundred and forty acres; in the case of suburban land more than five acres, and in the case of town land more than two acres.
Any lease held by any person who shall hold or occupy by himself or by other persons under him more than one lease or more than the area aforesaid, except as aforesaid, shall be forfeited, and be deemed to be and to have been, from the issue thereof, absolutely void and of no effect.
The provisions of this section shall not apply to persons who may become lessees or sub-lessees by marriage, or under a will, or or virtue of an intestacy. |