Aug. 22.] THE NEW ZEALAND GAZETTE. 3023

(h.) In the case of applications for an advance to purchase a dwelling and appurtenances on other than rural land, the provisions of paragraph (b) of the next succeeding clause shall apply in lieu of the provisions of paragraph (f) of this clause.

(i.) In the case of any advance made in respect of leasehold land the following additional provisions shall apply:

(i.) The mortgage shall be deemed not only to cover the mortgagor’s interest in the lease, but to extend to and include his interest in any further lease issued to him in lieu of such first-mentioned lease, whether by way of renewal or otherwise.

(ii.) The term of the mortgage shall, unless the lessee receives in lieu of his lease a title in fee-simple, expire on the due date of the prescribed half-yearly instalment next preceding the date of the expiration of the lease (which term shall be deemed to include any lease issued in lieu thereof whether by way of renewal or otherwise), and such instalment shall include the balance of principal then owing under the mortgage.

(iii.) No surrender of any lease on the security of which money has been advanced shall, so long as any portion of the moneys advanced remains unpaid, be accepted, nor shall any such lease be declared forfeited by a Land Board without the consent of the Minister.

(iv.) For the purposes of section 74 of the Land Act, 1908, any moneys owing by a lessee on account of an advance made pursuant to these regulations, together with interest due thereon, if any, shall be deemed to be moneys due in respect of the land, and such moneys shall constitute a first charge on moneys received by the Receiver of Land Revenue pursuant to that section.

(v.) The terms “lease” and “lessee” include license and licensee.

23. Advances for the purpose of the erection of a dwelling-house on other than rural land may, on the recommendation of the Land Board, be made by the Minister of Lands subject to the following provisions:—

(a.) The amount of the advance shall in no case exceed the sum of £750.

(b.) Unless otherwise determined by the Minister as hereinafter provided, all moneys advanced, together with interest thereon at the rate of 5 per centum per annum, shall be secured by first mortgage over the land in the Form No. 10 in the First Schedule hereto or to the like effect, and shall be repayable by half-yearly instalments over a period of 25½ years. Every half-yearly instalment shall consist partly of interest and partly of principal, and shall be calculated at the rate of 7 per centum per annum on the amount of the advance, and shall be applied towards payment of interest and principal in the proportions set out respecting the appropriate payment in the Second Schedule hereto.

(c.) The amount of any loan may, in the discretion of the Minister, be advanced by progress-payments to an amount not exceeding the value of the work from time to time completed.

(d.) Every application for an advance shall be made, in the Form No. 11 in the First Schedule hereto or to the like effect, to the Land Board for the district within which the land affected is situated, and shall be accompanied by the valuation fee calculated in accordance with the scale prescribed by paragraph (b) of the last preceding clause of these regulations. The Land Board shall, before making its recommendation, require the applicant to appear personally before it, or before such person or persons as it may appoint.

(e.) In such cases as the Minister may determine, advances may be made on flat mortgage for any period not exceeding ten years. All moneys so advanced shall bear interest at the rate of 5 per centum per annum, and shall be secured by way of first mortgage over the land in the Form No. 6 in the First Schedule hereto, with the necessary modifications.

24. All the powers conferred upon His Majesty the King as mortgagee by any mortgage to secure repayment of moneys advanced under these regulations, or pursuant to any law as such mortgagee, may be exercised in his own name by the Commissioner of Crown Lands for the land district within which the land affected by such mortgage is situated, and all actions and proceedings for the recovery of moneys advanced or interest thereon may be taken by the said Commissioner in his own name.

25. Upon the transfer to any person other than a discharged soldier of any property upon the security of which an advance has been made pursuant to these regulations, the balance of principal unpaid in respect of such advance shall become immediately due and payable: Provided that this regulation shall not apply in the case of a transfer pursuant to the will or on the intestacy of the mortgagor.

26. No registration fee shall be payable in respect of any memorandum of mortgage or any bill of sale given as security for any advance made under the authority of these regulations.

27. Where two or more discharged soldiers hold or propose to acquire any land, whether freehold or leasehold, as tenants in common in equal shares, advances may be made to them jointly to the aggregate amount that they would have been entitled to obtain individually.

28. Forms Nos. 6 and 10 in the First Schedule hereto may be modified to such extent as may be necessary in cases in which the land affected is not under the Land Transfer Act, 1915.

PART III.

DWELLINGS.

29. In the following regulations, unless inconsistent with the context,—

“Capital value” of a dwelling means the capital value fixed by the Minister, and shall cover the value of the land, the cost of its acquisition, the cost of survey, roading, subdivision, and other works and operations done on the land (including the value of the dwelling), the proper proportion of the value of so much of the land as is absorbed by roads or streets, and the estimated cost of administration:

“Dwelling” means any residence erected on land set apart for the purpose of soldiers’ dwellings pursuant to section 4 of the Discharged Soldiers Settlement Amendment Act, 1917, and includes the land on which the same is erected or which is held therewith, and also includes all outbuildings and sanitary and drainage arrangements necessary for such residence:

“Purchaser” includes any discharged soldier to whom land has been disposed of under these regulations, whether under agreement to purchase or under a provisional undertaking to purchase as hereinafter provided.

30. (1.) Land set apart for the purposes of section 4 of the Discharged Soldiers Settlement Amendment Act, 1917, shall be divided into such allotments as the Minister may direct; and the Minister may cause to be erected thereon buildings suitable for soldiers’ residences, or may convert any buildings thereon into soldiers’ residences, and may from time to time alter, enlarge, repair, rebuild, and improve any such dwellings.

(2.) The capital value of any dwelling disposed of under these regulations shall not exceed £1,000.

31. The Land Board, with the consent of the Minister, may dispose of any such allotment to a discharged soldier under agreement to purchase as hereinafter provided.

32. (1.) Applications for allotments shall be made to the Land Board in the form numbered 12 in the First Schedule hereto, and shall be accompanied by a deposit of 5 per centum of the capital value (in the case of an allotment on which a residence has been erected), or 5 per centum of the estimated prospective capital value (in the case of an allotment upon which a residence is to be erected by the Minister), or shall be accompanied by a deposit of such lesser sum as the Minister, in any special case, may determine.

(2.) The amount of such deposit shall, if the application is approved by the Minister and the Land Board, be applied towards the cost of the dwelling, and shall, if the application is not so approved, be refunded to the applicant.

33. Every applicant for an allotment under these regulations shall be required to appear personally before the Land Board, or before such person or persons as the Land Board may appoint.

34. (1.) Allotments may be disposed of either before or after residences have been erected thereon by the Minister.

(2.) In the case of an allotment disposed of upon which no residence has been erected, the Minister may erect thereon a residence with the necessary appurtenances in accordance with plans and specifications agreed upon between himself and the purchaser, provided that the capital value of the dwelling shall not exceed the maximum prescribed by these regulations.

35. Every agreement to purchase shall be in the form numbered 13 in the First Schedule hereto, and shall provide for the payment of the balance of the capital value (after deducting therefrom the amount deposited in accordance with clause 32 hereof), together with interest thereon at the rate of 5 per centum per annum, by monthly instalments payable on the first day of each and every month for a period of