Mar. 25.] THE NEW ZEALAND GAZETTE. 837

stubbing gorse, broom, and sweetbriar, or other noxious weeds, and to the cleaning, clearing from weeds, and keeping open all creeks, drains, ditches, and watercourses, it shall be lawful for the Commissioner to have such work done, and to recover the cost of the same from the lessee in the same manner as rent.

22. The lessee shall pay all rates, taxes, and assessments levied on or payable in respect of the land during the term of his lease.

23. In the case of land with buildings thereon which have been valued separately, in pursuance of section 57 of the said Act, the following special provisions shall apply:—

(1.) The ascertained value of the buildings shall be set forth in the sale-plan and in the deed of lease, and the amount so set forth shall be final and conclusive evidence of such value.

(2.) Subject to the provisions for postponement contained in paragraph (c) of section 57 of the said Act, the amount so set forth, together with interest thereon at the rate of 5 per cent. per annum, computed from the 1st day of January or July next following the date of the lease, shall be paid by the lessee by equal half-yearly instalments in advance, extending over such period, being not less than seven nor more than twenty-one years, as, with the approval of the Minister, the Land Board thinks fit to determine, and until paid shall be deemed to be a charge on the land and on the lessee’s interest therein: Provided that during such postponement (if any) the interest alone shall be payable by half-yearly instalments in advance.

(3.) Such instalments shall be payable in the manner and on the dates hereinbefore appointed for the payment of rent: Provided that the lessee may at any time pay the whole or any less number of the then future instalments under a duly proportionate rebate of interest.

(4.) The amount of such instalments (where they consist of combined principal and interest, and not of interest alone) shall be calculated according to the table shown in the Second Schedule hereto, which shall be deemed to be final and conclusive.

(5.) So long as any such instalment remains unpaid the lessee shall, at his own cost in all things, insure the buildings and keep them insured in the name of His Majesty in an amount equal to the full insurable value thereof, in the State Fire Insurance Office or some other 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 maintain 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 consent 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 His Majesty under the insurance shall be recoverable by the Commissioner, who, after deducting the expense (if any) incurred in recovering the same, shall, in his discretion, apply the residue thereof, or a sufficient part thereof, either in or towards restoring the buildings or in or towards paying the unpaid instalments (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.

24. 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.

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 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.

26. (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.