200

THE NEW ZEALAND GAZETTE.
thereupon revert to and become vested in Her Majesty, as part of the Demesne Lands
of the Crown in New Zealand, subject, nevertheless, to any contracts which should
be then subsisting in regard to any of the Lands, and upon the condition of satisfying
any Liabilities to which the Company might then be liable under their existing
engagements with reference to the Settlement at Nelson, or any liabilities of the
Company which during the suspension of the Instructions therein referred to, should
have been contracted by them, with the consent of the Special Commissioner provided
for by the now-reciting Act, and all claims of the Company to any further Grant of
Land should cease; and also (by Section Twenty) that, upon the reversion as aforesaid
to Her Majesty of the Lands belonging to the Company, all claim on behalf of Her
Majesty, or of the Commissioners of Her Majesty's Treasury, in respect of either the
Loan of One hundred thousand Pounds therein Referred to; or the Loan authorised
by the now-reciting Act, or of so much as should then remain due and unpaid, should
be remitted to the Company, and there should be charged and paid to the Company,
out of the Proceeds of all future Sales of the Demesne Lands of the Crown in New
Zealand, after deducting the outlays for Surveys and the proportion of such Proceeds
which was appropriated to the Purpose of Emigration, the Sum of Tv,o hundred and
sixty-eight thousand three hundred and seventy Pounds Fifteen Shillings, being
after the Rate of Five Shillings for each Acre of the One million seventy-three
thousand four hundred and eighty-three Acres to the Proportion of which the
Company were then entitled, including therein Twenty-four thousand four hundred
and ninety-one Acres and half an Acre purchased by the Company within their own
Settlements, and then held as their private Estate, with Interest after the yearly
Rate of Three Pounds Ten Shillings in the Hundred Pounds upon that Sum, or so
much thereof as should from Time to Time remain due and unpaid, to be computed
from the Day of Delivery of such Notice; and also (by Section Twenty-one) that
the Receipt by Two of the Directors of the Company, authorised to give such
Receipt by any Resolution under the Seal of the Company, should be a sufficient
Acknowledgement of the Payment or Advance of any Moneys authorized by the
now-reciting Act to be paid or advanced to the Company, and that neither the Special
Commissioner nor the Commissioners of Her Majesty's Treasury should be bound to
see to the due Application of the moneys, otherwise than is in the now-reciting Act
provided: And whereas the Notice provided for by Section Nineteen of the recited
Act was duly delivered by the Directors of the Company on the Fourth Day of July,
One thousand eight hundred and fifty, and thereupon, under the Provisions of that
Act, all the Lands, Tenements, and Hereditaments of the Company in the Colony
reverted to, and became vested in Her Majesty, as part of the Demesne Lands
of the Crown in New Zealand, subject, nevertheless, as by that Act is provided, as hein-
before recited: And whereas by an Act of the Session of the Fifteenth and Sixteenth
15 & 16 Vict. Years of Her present Majesty, Chapter Seventy-two, intituled An Act to grant a
c. 72. Representative Constitution to the Colony of New Zealand, it was enacted (by
Section Sixty-two) that the Governor of New Zealand should pay out of the
Revenue arising from the Disposal of Waste Lands of the Crown (among other Sums)
such Sums as might become payable to the Company under the Provisions
of the now-reciting Act in respect of the Sale or Alienation of Land; and (by
Section Seventy-two) that all Lands wherein the Title of Natives should be extin-
guished, as therein-after mentioned, and all such other Lands as were described in
the first-recited Act as Demense Lands of the Crown, should be deemed and taken
to be Waste Lands of the Crown, within the Meaning of the now-reciting Act; and
(by Section Seventy-four), after reciting that under and by virtue of the first-
recited Act and the recited Notice given by the Company in pursuance thereof, the
Sum of Two hundred and sixty-eight thousand three hundred and seventy Pounds
Fifteen Shillings, with Interest after the yearly Rate of Three Pounds Ten Shillings
per Centum upon that Sum, or so much thereof as should from Time to Time remain
unpaid, was charged upon and payable to the Company out of the Proceeds of the
Sales of the Demense Lands of the Crown in New Zealand, it was enacted, that in
respect of all Sales or other Alienations of any Waste Lands of the Crown in New
Zealand in Fee Simple, or for any less Estate or Interest (except as therein is
excepted), there should be paid to the Company, towards the Discharge of the
Principal Sum and Interest charged as aforesaid, in lieu of all and every other Claim
of the Company in respect of that Sum, except where otherwise therein-after
provided, so long as the same or any Part thereof respectively should remain unpaid,
One Fourth Part of the Sum paid by the Purchaser in respect of every such Sale or
Alienation: Provided always, that it should be lawful for the Company, by any
Resolution of a Majority of the Proprietors of the Company, as therein expressed, to
release all or any Part of the Lands from the Moneys or Payments charged thereon
by the first-recited Act or the now-reciting Act, or any Part of such Moneys or
Payments, either absolutely or upon any Terms or Conditions, as such Proprietors