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The New Zealand Constitution Act [1852]: together with correspondence between the Secretary of State for the colonies and the Governor-in-Chief of New Zealand in explanation thereof

Sec. VI.—Government Scrip

Sec. VI.—Government Scrip.

25. The Scrip to be issued in satisfaction of claims under

Scrip to be taken as cash in the purchase of Town and Suburban lots.

Scrip to be land orders of the New Zealand Company shall be taken in payment for Town and Suburban Land at the nominal value of such Scrip in pounds sterling.
26. In the purchase of Rural Land the Scrip shall be

Value at which Scrip shall be received in the purchase of Rural Lands of various denominations.

taken at such a value that one pound in Scrip shall represent the upset price or fixed price, as the case may be, of one acre of Rural Land at the date when the Scrip may be tendered at the Treasury; and for the protection of the Scrip holders this rule shall equally prevail if the general price of Country Land throughout the colony shall at any time be raised: Provided Always that in the purchase of' all Rural page 126 Lands within the limits of hundreds, and of such Rural Lands outside the limits of Hundreds as may he put up to auction or sold at a fixed price under clauses 9 and 11 of these Regulations, one pound in Scrip shall represent its nominal value of one pound sterling, except where such fixed or upset price is lower than £1 per acre, in which case o it shall represent such lower price only.

Scrip not available in the purchase of Crown Land in certain localities.

27. The Scrip will not be available in the purchase of Crown Land within the limits of any Hundred which shall have been proclaimed before the 2nd day of August, 1851, nor within the Town site of New Plymouth