THE NEW ZEALAND GAZETTE.

[No. 1

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down, or remove them, or any part thereof, without the previous permission of
the Commissioner in writing.

26. 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 provisions 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 determine, subject, nevertheless, to the provisions of regulation 33,
    respecting valuation of improvements; but such forfeiture shall not affect any
    right or remedy on the part of His Majesty to recover from the lessee any money
    due to His Majesty, or release the lessee from any penalty or liability in respect
    to anything done or omitted to be done by him.

27. (1.) Any owner of a renewable lease may at any time make payments to
    the Receiver of Land Revenue in sums of not less than £10 and not exceeding in
    the whole 90 per cent. of the capital value of the land comprised in his lease.

(2.) The capital value of the land for this purpose means the value in respect
of which the rent payable under the said lease is calculated.

(3.) On any such payment being made the rent reserved by the lease shall
thereafter abate proportionately.

28. (1.) When and so long as the payments so made are not less in the aggregate than 33 per cent. of the said capital value, the lessee shall for the residue
    of the term have possession of the land freed from all covenants and conditions
    contained or implied in the lease other than the covenant to pay rent and the
    conditions as to residence, but the lessee shall not thereby obtain any right to
    extract minerals or commit any other waste or depreciation of the land.

(2.) All moneys so paid shall be a debt due by the Crown to the owner of the
lease for the time being, and such debt shall run with the lease, and shall be payable when the lease is renewed or is determined by effluxion of time, forfeiture,
surrender, or otherwise.

(3.) At any time during the currency of the lease any moneys so paid shall,
so far as they exceed 33 per cent. of the capital value, be repaid on the application
of the person entitled thereto, and thereupon the rent payable under the lease
shall be adjusted proportionately.

29. All moneys so paid by a lessee shall be paid into the Land for Settlements
    Account, and shall be available for the purposes of “The Land for Settlements
    Consolidation Act, 1900.”

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

31. The full and free right to enter on the land comprised in the lease and
    search for and take and remove gravel or stone for making or maintaining roads
    is reserved to His Majesty: Provided that the lessee shall be entitled to compensation for any surface-damage caused thereby, but to no other compensation
    or remedy whatsoever.

32. The lessee shall not cut down or remove any of the trees growing on the
    land demised without the consent of the Commissioner in writing first obtained.

33. 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 disposal thereof shall, so far as the same are applicable, apply to the
    improvements made by the lessee.

34. For the purpose of distinguishing the improvements existing on the
    land at the date of the lease from those subsequently made by the lessee, the
    first-mentioned improvements 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.

35. The right is reserved to the Crown or to its delegated authority to take
    water-races, and to lay water-pipes over any lands disposed of, without compensation; the rentals of the sections to be reduced in proportion to the area
    taken when any such right has been exercised.