10

Fees on Licenses.

6. On the issue of each License, a Fee to be paid of an amount to be fixed by the Company's Principal Agent or other authorised Officer, not exceeding Five Pounds, in addition to the half-year's charge above-mentioned.

One-half only of such Fee to be paid upon any License issued subsequently to the 31st of May for the portion of the year ending on the 31st of December following.

Reservation of Rights.

7. The License to be subject to determination or abridgement, and any portion of the Pasturage-run to be liable to be taken at any time by the Company's Principal Agent or other authorised Officer, for any purpose other than Pasturage, after a notice of Six Months without reference to the date or commencement of the License.

No License to confer any right to the soil; or power of breaking-up the same, or sub-letting the Pasturage, without the consent of the Company's Principal Agent or other authorised Officer; or otherwise to abridge or suspend the rights and powers of the Company in and over the Land to be depastured.

Improvements.

8. No allowance to be made to the holder of any License for any Improvements which he may think proper to effect.

Disputes among Individuals.

9. Disputes among applicants or Licensees to be determined either by Arbitration or by Lot, if the parties concur in desiring either of these modes of decision; and, in default of such concurrence, by the Company's Principal Agent or other authorised Officer. Such determination to be in every case conclusive and binding as against all parties interested.

But the Company's Agent or other Officer decline to give any decision, the parties to be at liberty to have recourse to such remedy as they possess, at Law or in Equity.

Non-observance of Terms.

10. In the event of neglect or non-observance, by any Licensee, of these Terms or of the Regulations to be prescribed by the Company's Principal Agent or other authorised Officer as above-mentioned, so far as the same may respectively affect the rights or interests of the Company itself, such Agent or other Officer to have power to declare the License determined; the same to become thereupon null and void as by lapse of time; and the said Agent or other Officer to be at liberty to resume forthwith the Pasturage-run therein mentioned, and to dispose of the same as if no such License had ever been issued.

Non-surrender of Possession.

11. In the event of refusal or neglect to give up possession on the determination of any License by lapse of time or otherwise, the Licensee to be liable, during the continuance of such refusal or neglect, for the payment of a sum equal to Three-times the amount of the charge reserved in the said License, without prejudice to any other right or remedy which the Company may possess.

By order of the Court,

THOMAS CUDBERT HARINGTON,
Secretary.

New Zealand House, 9, Broad-Street Buildings, London, 1st August, 1849.

O T A G O.

TERMS OF PURCHASE OF LAND, UNTIL FURTHER NOTICE.

The following Regulations are substituted for those dated respectively the 14th May and 24th of November, 1847, and the 15th April 1848,
The Free Church of Scotland, as reported by the General Assembly of May, 1845, with the addition of such other Members as have been, or hereafter may be from time to time appointed by the Association, to be recognized as the party to promote the Settlement now in progress.

2.—The Lands [to be] sold under the following arrangements to persons brought forward or approved by the Association; and the Association (including those persons) to carry out the enterprise on their own principles, and, so far as possible, in their own name, looking only to the Company for such assistance and acts of management in the matter of surveys, emigration, and general process of founding and maintaining the settlement, as may be requisite.

3.—Amendments which experience may from time to time show to be desirable, to be made by the Company and the Association, concurrently, in those parts of the following arrangements in which they are not already provided for.

4.—The site of the Settlement to continue to be at OTAGO in the MIDDLE ISLAND OF NEW ZEALAND, on the land granted to the Company by a Deed under the seal of the territory, bearing date the 13th day of April, 1846, and already decided on, surveyed, and laid out.

5.—The Settlement to comprise one hundred and forty-four thousand six hundred acres of Land, divided into two thousand four hundred properties; and each property to consist of sixty acres and a quarter, divided into three allotments; namely, a town allotment of a quarter of an acre in a spot selected as the site of a town, a suburban allotment of ten acres in the vicinity of a town site, and a rural allotment of fifty acres, be the measurements more or less.

But each class of land to be sold separately, if so desired by the purchaser; and in case of such separate sale, the rural allotment to be reduced, if so desired, to twenty-five acres.

6.—The 2,400 properties, or 144,600 acres, to be appropriated as follows, namely:—

2,000 Properties, or 120,500 acres, for sale to private individuals;

100 Properties, or 6,025 acres, for the Estate to be purchased by the Local Municipal Government;

100 Properties, or 6,025 acres, for the Estate to be purchased by the Trustees for Religious and Educational uses; and,

200 Properties, or 12,050 acres, for the Estate to be purchased by the New Zealand Company.

7.—The price of the land for sale in the United Kingdom to be fixed at the present for forty shillings an acre, or £120 10s. a Property, if the property be purchased entire as defined in paragraph 5. But if purchased separately, the price of each class of land to be as follows, viz.—Town Land £12 10s. per allotment of a quarter acre; Suburban Land £30 per allotment of ten acres; and Rural Land £50 per allotment of twenty-five acres.

The said prices to be charged on the Estates of the Municipal Government, of the Trustees for Religious and Educational uses, and of the New Zealand Company, in the same manner as on the 2,000 Properties intended for sale to private individuals; and the purchase-money, amounting (at the