Crown lands not required for sale are let for pastoral purposes on licences for periods not exceeding fourteen years, old runs being subject to a fixed rent, according to the carrying capabilities of the land, of not less than 4d. nor more than 9d. per sheep, and not less than 2s. nor more than 4s. her head of cattle. The annual rental of new and forfeited runs is submitted at auction, the highest bidder being entitled to the run.