344
THE NEW ZEALAND GAZETTE.
[No. 12

the full insurable value thereof, in some reputable
insurance office, to be first approved by the
Commissioner.
(6.) The lessee shall deposit with the Commissioner the
policy of insurance forthwith upon effecting the
insurance, and shall also duly pay all premiums
in respect thereof, and deposit with him each
premium receipt not later than the forenoon of
the day on which such premium becomes payable.
(7.) If the lessee at any time fails or neglects to effect
or keep on foot such insurance, or to duly pay
any such premium or deposit such policy or
receipt, it shall be lawful for but not obligatory
on the Commissioner, at the cost in all things of
the lessee, to effect such insurance in such sum
as aforesaid, or in any other sum, or to pay such
premium as he thinks fit.
(8.) The amount of such insurance may, with the con-
sent of the Commissioner, be reduced from time
to time, provided that it is not reduced below
the total amount of the aforesaid instalments for
the time being remaining unpaid.
(9.) In the event of the buildings so insured, or any of
them, being destroyed or damaged by fire, all
moneys payable to Her Majesty under the insur-
ance shall be recoverable by the Commissioner,
who, after deducting the expense (if any) in-
curred in recovering the same, shall, in his dis-
cretion, apply the residue thereof, or a sufficient
part thereof, either in or towards restoring the
buildings or in or towards paying the unpaid in-
stalments (a duly proportionate rebate of interest
being made in the case of instalments not then
due), and any surplus shall be payable to the
lessee.
(10.) Every such instalment as aforesaid as it becomes
due, and every sum paid by the Commissioner in
respect of cost of insurance, shall be payable by
and may be recovered from the lessee in the same
manner as rent.

23. The lessee shall at all times during the term of his
    lease keep in good repair and condition, to the satisfaction
    of the Commissioner, all buildings and erections for the time
    being standing on the land, and shall not destroy, pull
    down, or remove them, or any part thereof, without the
    previous permission of the Commissioner in writing.

24. The lessee shall not open up any mine on the land
    comprised in his lease without the previous permission of
    the Commissioner in writing.

25. If and so often as the lessee makes default in the due
    and full payment of any rent under the lease, or of any
    instalment in respect of the value of buildings as aforesaid,
    or of any sum in respect of cost of insurance as aforesaid,
    or of any other moneys payable under the lease, or in the
    faithful observance and performance of any other of the pro-
    visions of these regulations, or of the lease, then and in
    any such case the Land Board may, without any previous
    or other notice or demand, forfeit the lease; and in such
    case all his interest therein shall absolutely cease and de-
    termine, subject, nevertheless, to the provisions of the next
    following clause, respecting valuation of improvements; but
    such forfeiture shall not affect any right or remedy on the
    part of Her Majesty to recover from the lessee any money
    due to Her Majesty, or release the lessee from any penalty
    or liability in respect to anything done or omitted to be
    done by him.

26. In the event of the forfeiture or surrender of the
    lease, the provisions of "The Land Act, 1892," respecting
    valuation of improvements and the payment or other dis-
    posal thereof shall, so far as the same are applicable, apply
    to the improvements made by the lessee.

27. For the purpose of distinguishing the improvements
    existing on the land at the date of the lease from those sub-
    sequently made by the lessee, the first-mentioned improve-
    ments and their value shall be fixed by the Land Board, and
    be specified in the lease: Provided that to the extent to
    which the lessee pays the aforesaid instalments in respect
    of the value of buildings, to the same extent shall such
    buildings be deemed to be improvements made by him.

28. The lease shall be in the form or to the effect set forth
    in the Third Schedule hereto, and may contain such ad-
    ditional provisions, not inconsistent with the said Acts or
    these regulations, as, with the approval of the Minister, the
    Land Board thinks fit.

29. Subject to the provisions of the said Acts and the fore-
    going regulations, the provisions of "The Land Act, 1892,"
    and the regulations thereunder with respect to applications
    for and the grant of leases in perpetuity, the stipulations
    and conditions subject to which such leases may be granted,
    the rights and powers of the lessor and of every person or
    authority in Her behalf, the rights, powers, and functions of
    the Land Board and the Commissioner in relation to the
    land and premises comprised in such leases, and the estate,

interest, rights, duties, and liabilities of the lessees shall,
so far as the same are applicable, apply to leases in per-
petuity granted under these regulations.

As to Pastoral Lands.

30. In every case where pastoral lands acquired under the
    said Acts are to be disposed of under the small-grazing-run
    system, as prescribed by section 32 of the principal Act, the
    same shall be disposed of by the Land Board of the land
    district in the manner and on the terms and conditions
    hereinafter appearing.

31. Every lease shall be for the term of twenty-one years,
    to be reckoned from the 1st day of March following the date
    of the lease, and shall, in addition, include the broken period
    between the date of the lease and such day.

32. The lessee, duly fulfilling on his part all the covenants,
    stipulations, and conditions of the lease, shall, at the expira-
    tion of the term thereof by effluxion of time, have the option
    of a renewal thereof for a further term of twenty-one years,
    computed from the date of the expiration of the original
    term, at a yearly rental equal to 5 per cent. on the then
    capital value of the land, computed in manner prescribed
    by the said Acts, being, however, in no case less than the
    original rental, and for the purposes of this clause the pro-
    visions of "The Land Act, 1892," relating to renewals of
    leases of small grazing-runs shall, mutatis mutandis, apply
    so far as the same are applicable.

33. The land shall be divided into allotments or runs not
    exceeding 5,000 acres each, or such greater area (not exceed-
    ing the maximum area prescribed by "The Land Act, 1892,")
    as in special circumstances the Minister directs; and no
    lease shall comprise more than one allotment.

34. (1.) The yearly rent in respect of each allotment shall
    be an amount equal to 5 per cent. on the capital value of
    the land (exclusive of the buildings thereon), computed in
    manner prescribed by the said Acts, and shall be payable in
    equal parts half-yearly in advance to the Receiver of Land
    Revenue, on the 1st day of March and the 1st day of Sep-
    tember in each year, the first half-year's rent being due on
    the 1st day of March first following the date of the lease,
    and being payable out of the prescribed deposit.
    (2.) The lease shall be dated as on the date whereon the
    Land Board declares that the applicant has succeeded in
    obtaining the allotment.

35. Every application shall be in the form or to the effect
    set forth in the Fourth Schedule hereto, and every applicant
    shall make the declaration therein set forth or to that effect.

36. No person shall be capable of applying for or holding
    any allotment in any of the following cases, that is to say:—
    (1.) If at the date of his application he is, directly or
    indirectly, either by himself or jointly with any
    other person or persons, the owner, tenant, or
    occupier of any land whatsoever under the said
    Acts, or the owner in fee-simple, or the tenant
    or occupier under a lease for a term whereof
    not less than two years are unexpired, of any
    other land in the colony which, with the allot-
    ment applied for, would exceed in area 5,000
    acres, or such greater area as in special circum-
    stances the Minister authorises; or
    (2.) If at such date he is the owner of real and personal
    property the total value whereof, after deducting
    the encumbrances thereon, exceeds one a half
    times the capital value (exclusive of buildings)
    of the allotment applied for.

37. (1.) Subject to the provisions of "The Land Act, 1892,"
    as to relaxing or dispensing with the conditions relating to
    residence, the lessee shall reside on the land comprised in his
    lease, or by the amending Act deemed to be so comprised,
    within one year from the date of the lease in the case of
    open or partly open land, or three years in the case of bush
    or swamp land; and in each case such residence shall there-
    after be continuous to the end of the term.
    (2.) For the purposes of this clause, the Land Board shall
    determine and specify in the lease the period within which
    residence is to commence.

38. (1.) The lessee shall put on the land comprised in his
    lease substantial improvements as under, that is to say:—
    (a.) Within one year from the date of his lease, to a
    value equal to the amount of one year's rental; and
    (b.) Within two years from the date of his lease, to a
    value equal to the amount of another year's
    rental; and
    (c.) Within six years from the date of his lease, to a
    value equal to the amount of other two years'
    rental; and
    (d.) On bush land he shall, in addition to the foregoing
    improvements, put, within six years from the
    date of his lease, substantial improvements of a
    permanent character, to the value of ten shillings
    for every acre of such land if first-class pastoral
    land, or of five shillings if second-class pastoral
    land.