Agricultural lands may be selected in lots not exceeding 320 acres in extent, at the price of £1 per acre; the amount, with 33½ per cent, added for credit, being paid by instalments extending over fourteen years upon the following scale:—

	£.	s.	d.
100 acres at 20s. per acre	100	0	0
Add one-third for credit	33	6	8
	£133	6	8

The land may be selected before survey, but must be surveyed afterwards, the selector paying cost of survey, which is fixed by scale.

The selector must, under the penalty of forfeiture of his allotment, either in person or by his tenant or servant, within one year of the date of his selection, reside thereon, and continue to do so until the full amount of his purchase money is paid.

Until the time the purchase is completed, only one lot is allowed to be held by an individual, except one or more such lots should, besides descend to him in inheritance or be acquired by marriage.

As soon as 500 acres, in not less than ten adjoining or closely contiguous lots, have been selected for purchase and occupied by the selectors, their tenants or servants, an amount equal to one-half the purchase money, exclusive of the addition for credit, is raised by the Government on debentures chargeable on the Land Fund, and the amount so raised is expended on roads in the vicinity of the selected lands, and one-half the purchase money of such lands is set apart for the redemption of the debentures.

Minors not being legally able to enter into contract for the purchase of land, are not eligible to make selections. There is, however, no objection raised to selections being made by members of the same family, provided they are eligible. Married women also may select.

The balance of the purchase money of any lands selected, or taken up on credit, may be paid off at any time, a rebate equivalent to the sum added by way of credit premium being allowed upon the amount.

No portion of land of which the price is less than £15 sterling is allowed to be purchased on credit.

No purchaser of land on credit is allowed to transfer his interest in such land unless the balance of the purchase money is paid, or he obtain special permission from the Commissioner to transfer his interest.