Jan. 9.] THE NEW ZEALAND GAZETTE. 39

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(1.) If at the date of his application he is directly or indirectly, either by himself or jointly or in common with any other person or persons, the owner, tenant, or occupier of any land whatsoever under “The Land for Settlements Consolidation Act, 1900,” or any former Land for Settlements Act, or the owner in fee-simple, or the tenant or occupier under a lease for a term of more than one year’s duration, of any other land in New Zealand which, with the allotment applied for, would exceed in area 5,000 acres of third-class land, or 2,000 acres of second-class land, or 640 acres of first-class land, or a total area of 5,000 acres calculated as hereinafter follows.

(2.) (a.) For the purpose of computing the above area every acre of first-class land shall be reckoned as 7½ acres, every acre of second-class land as 2½ acres, and every acre of third-class land as 1 acre.

(b.) Any land which has not been classified shall, if of an unimproved value of £4 per acre or upwards, be deemed to be first-class land; and if of an unimproved value of less than £4 but not less than £2 per acre, shall be deemed to be second-class land; and if of an unimproved value of less than £2 per acre, shall be deemed to be third-class land.

(c.) Land held under lease the term of which expires within nine months shall not be deemed to be land held or occupied within the meaning of this regulation, unless the lessee has a right to a renewal of such lease.

(3.) If at such date he is the owner of real or personal property the total value whereof, after deducting the incumbrances thereon, exceeds the following proportion of the capital value (exclusive of buildings) of the allotment applied for, that is to say:—

(a.) Three times such capital value where the area of such allotment does not exceed 100 acres;

(b.) Twice such capital value where such area exceeds 100 and does not exceed 500 acres;

(c.) One and a half times such value where such area exceeds 500 acres:

Provided that the Land Board may, with the consent of the Minister, accept an application for an allotment from a person who is the owner of real or personal property the total value whereof exceeds the aforesaid limitations. For the purpose of giving effect to this proviso, clause 5 of the declaration contained in the First Schedule to these regulations may be varied accordingly.

10. Allotments will be disposed of to the applicants therefor in accordance with the regulations for a system of ballot published in the New Zealand Gazette of the 12th day of December, 1907.

11. Every applicant who obtains an allotment under these regulations shall, from the date of the lease, reside continuously thereon.

12. It shall not be lawful for a lessee under this Act to transfer the land comprised in the lease within the period of five years from the date of such lease: Provided that, on the death of a lessee or on the happening of any extraordinary event which in the opinion of the Land Board of the district in which the land is situated renders a transfer necessary or expedient, a transfer of the lease may, with the sanction of the Land Board and the Minister, be made.

13. The lessee shall put on the land comprised in his lease substantial improvements as under, that is to say:—

(1.) Within one year from the date of his lease, to a value equal to 10 per cent. of the aforesaid capital value of the land;

(2.) Within two years from the date of his lease, to a value equal to another 10 per cent. of the aforesaid capital value of the land;

(3.) And thereafter, but within six years from the date of the lease, to a value equal to another 10 per cent. of the aforesaid capital value of the land;

and in addition thereto he shall, within six years from the date of his lease, put