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[Collected Rules and Regulations of the Native Land Court, in English and Māori]

Alienation

Alienation.

(1.) Mortgage.

76.For the purpose of providing funds wherewith to road, survey, and generally open up for sale, lease, or settlement the lands of the corporation, and also to cultivate, improve, and stock the same, it shall be lawful for the Public Trustee, out of any moneys standing to the credit of the Public Trustee's Account or otherwise, to raise from time to time such sums as the Committee, with the consent of a majority of the proprietors in general meeting, may recommend, or such less sums as he may think fit, by way of mortgage over the lands of the corporation, or the present and future rents, issues, and profits of the said lands, and the proceeds of sales thereof.
77.All such loans shall be raised from such sources, in such manner, and on such terms as to interest sinking fund, and otherwise, as the Public Trustee may think fit.
78.With the consent of the Public Trustee, but not otherwise, the repayment of the capital sums so raised as aforesaid may be spread over several years, pursuant to clause 69 of these regulations. In such case, the portion repaid in any year shall be determined by the Committee with the consent of the Public Trustee, and, when so determined, shall be treated as an item of expenditure for that year; and the residue of the rents, issues, profits and proceeds aforesaid of that year shall thenceforth be deemed to be released from the aforesaid mortgage, which shall nevertheless continue to bind all future rents, issues, profits, and proceeds according to its tenor until the whole of the sums so raised as aforesaid, with the interest thereon, have been fully repaid. All sinking funds shall be held and invested by the Public Trustee.

(2.) Leases.

79.Lands may be leased either by tender or public auction, as the Committee, with the consent referred to in clause 87 of these regulations, may think fit for any term not exceeding thirty years.page 15
80.All leases made by the Committee on behalf of the corporation shall be made as nearly as may be, in accordance with the regulations in force from time to time in regard to Crown lands, provided that residence shall not be compulsory. No payment for surveys shall be claimed in advance, and the individual areas of holdings in special settlements may be increased by one-half.
81.With respect to every lease,—
(1.)The Public Trustee shall be a party, but without entering into any covenant or incurring any liability, express or implied;
(2.)All the covenants and conditions on the lessee's part shall be expressed to be in favour of the Public Trustee, upon whom also shall be conferred all the powers of re-entry, distress, and other the powers and authorities usually conferred upon a lessor;
(3.)The instrument of lease shall be submitted to the Minister, the Public Trustee, and the Commissioner of Crown Lands for the district in which the land is situate, for their approval before execution.
82.Plans according to Survey regulations shall be prepared of all lands proposed to be leased, as also the terms and conditions of the leases. Such plans, terms, and conditions shall be exhibited at the office of the corporation during at least one month before the auction is to be held or tenders are to be received.
83.Notice of such plans, terms, and conditions being open for inspection, and of the date upon which the auction will be held, or until which the tenders will be received, as the case may be, shall be published in two successive numbers of the Gazette and Kahiti, and once in each of two consecutive weeks in a newspaper published or circulating in the district, the first of such publications to take place prior to the exhibition of such plans and conditions. Copies of all such plans, terms, and conditions, as and when prepared, shall be forwarded to the Minister.
84.The Committee, with the consent of a majority of the proprietors in general meeting, may set apart one or more portions of land as sites for special settlements, on the terms specified in "The Land Act, 1892," and regulations made thereunder, and may call for applications for such land from associations.
85.The Committee, with the consent of a majority of the proprietors in general meeting, shall have power to include in any lease a covenant by the corporation for page 16payment in full of valuations of improvements at the expiration of such lease; and the Public Trustee may set apart each year such portion of the yearly rental as he thinks necessary as sinking funds for the purpose of providing a fund to pay for such improvements. All such sinking funds shall be held and invested by the Public Trustee.

(3.) Sales.

86. The Committee, with the consent referred to in the next-succeeding clause of these regulations shall have power to sell land in such blocks, at such prices, and on such terms as may be agreed on.