662

THE NEW ZEALAND GAZETTE.

[No. 15

price in accordance with clause 4 hereof, and the lessee may
at any time, during the continuance of his lease, with the
approval of the Land Board and consent of the Minister,
acquire the fee-simple of the lands comprised therein at the
price so determined: Provided that nothing in this regulation shall authorize the acquisition of the fee-simple of any
national-endowment land.

(2.) The provisions of clause 5 of these regulations (relating
to purchases of land on deferred payment) shall, mutatis
mutandis, apply in respect of the acquisition of the fee-simple
under this regulation.

13. The Land Board, with the consent of the Minister,
    may accept the surrender of the whole or portion of the land
    comprised in any lease granted under these regulations, and
    the provisions of sections 80 to 83 of the Land Act, 1924,
    may thereupon be applied to the land so surrendered in the
    same manner as if the lease were a lease under that Act
    forfeited for breach of conditions.

General..

14. The following provisions of the statutes mentioned
    shall, so far as applicable, and except as may be otherwise
    provided in the said Act, or in these regulations, apply to
    lands disposed of under these regulations namely:-
    The Land Act, 1924-Section 72 (1) (a), Sections 75, 76,
    86, 88, 90, 93, 95, 96, 98, 99, 101, 102, 103, 109, 111,
    112, 113 (5), 114, 117, 118, 119, 120, 121, 122, 123,
    124, 125, 127, 133, 134, 135, 136, 137, 138, 139, 140,
    141, 149, 164, 203, 206, 208, 216, 315, 384.
    The Land for Settlements Act, 1925-Section 50 and 57,
    except paragraph (d) thereof.

15. (1.) All titles in fee-simple issued under these regulations
    in respect of any Crown land shall be subject to the provisions
    of Part XIII of the Land Act, 1924.

(2.) All titles in fee-simple issued under these regulations
in respect of any land which is or was at any time settlement
land shall be subject to section 85 of the Land for Settlements Act, 1925.

16. On the transfer of any lease or license issued pursuant
    to section 4 of the said Act the transferee, if not a discharged
    soldier, shall be required to make a declaration in such one
    of the forms (with the necessary modifications) prescribed
    under the Land Act, 1924, or the Land for Settlements Act,
    1925, as the case may be, as the Land Board may determine.

17. Two or more applicants may make an application to
    hold any land set apart under section 4 of the said Act
    as tenants in common, and in any such case the provisions of
    section 215 of the Land Act, 1924, shall, so far as applicable,
    extend and apply.

18. Clauses 23, 24, and 25 of, and the Second Schedule to,
    the regulations under the Land for Settlements Act. 1908,
    made on the 16th day of March, 1909, shall, so far as applicable, and with the necessary modifications, apply to lands
    with buildings thereon disposed of under the Discharged
    Soldiers Settlement Act in the same manner as they apply to
    lands with buildings thereon disposed of under the Land for
    Settlements Act:

Provided that in any case where the Board and the
Minister are of opinion that the estimated probable life of
such buildings is sufficient to justify the repayment of the
value of such buildings being extended over a longer period
than the maximum period prescribed by clause 23 of the
aforesaid regulations, the Minister may approve of such
repayment being extended over a period of either thirty years
or thirty-six years and a half, and in the case of such extension
every half-yearly instalment of principal and interest shall
be calculated and apportioned in accordance with whichever
of the following tables may be applicable to the case, Table A
or Table B of the Second Schedule to the State Advances
Act, 1913.

19. The provisions of section 47 of the Land Act, 1924, and
    of the regulations relating to Land Board elections made on
    the 7th day of February, 1913, and 4th day of December, 1922,
    and published in the New Zealand Gazettes of the 13th day of
    February, 1913, and 7th day of December, 1922, shall, so
    far as they relate to the election of elective members of Land
    Boards, apply to every discharged soldier who is the owner
    of a lease issued pursuant to section 4 of the said Act, and
    accordingly every such discharged soldier shall be eligible to
    vote for the election of any elective member of the Land
    Board for the land district in which such discharged soldier's
    land is situated.

PART II.

FINANCIAL.

20. With respect to advances under section 6 of the said
    Act (as extended by section 4 of the Discharged Soldiers
    Settlement Amendment Act, 1916), and under paragraphs (c)
    and (e) of section 2 of the Discharged Soldiers Settlement
    Amendment Act, 1917, the following provisions shall apply :-

(a.) The amount of advance that may be made to any one
person, including all other advances made to the
same person and still remaining unpaid, shall not
exceed £750 :

Provided that in the case of bush lands the Minister may authorize an advance under this regulation
not exceeding £1,000, in ordinary cases, or £1,250
in cases where in the opinion of the Minister special
circumstances warrant such amount being advanced:

Provided further that the Minister may, on the
production of evidence that the advances as aforesaid
are insufficient for the successful working of a farm,
authorize advances up to such limits and for such
purposes as he deems fit.

(b.) The amount of any loan made for the purpose of
clearing, draining, fencing, erection of buildings, and
general improvement may, in the discretion of the
Minister, be advanced by progress payments corresponding to 75 per cent. of the value of the improvements from time to time effected by the
mortgagor. In such case the value of the improvements so effected shall from time to time be ascertained and certified to by some person authorized
by the Minister in that behalf, and any certificate
given by such person shall be final : the balance of
the advance may be paid on receipt of a final certificate that the improvements in respect of which
the advance is made have been satisfactorily completed.

(c.) In no case shall the amount advanced for buildings
exceed £250:

Provided that in special cases the Minister may, on
the recommendation of the Land Board, authorize an
advance for this purpose not exceeding such an
amount as is deemed necessary for the efficient and
economical working of the farm in respect of which
the advance is made:

Provided further that the Minister, on the recommendation of the Land Board, may authorize an
advance not exceeding £500, and in exceptional
cases not exceeding £750, to be made for buildings
on rural holdings not exceeding in area 21 acres,
in cases where the Board is of opinion that the
amount that may be advanced under these regulations is not required, or is not likely to be required,
for any other purpose.

(d.) All moneys advanced shall be secured by way of
mortgage over the land or the applicant's interest
therein in the form No. 6 in the First Schedule
hereto:

Provided that advances made under subclause (c)
for buildings on rural holdings not exceeding in
area 21 acres may be made by way of mortgage in
the form No. 10 in the First Schedule, or as near
thereto as may be necessary, and shall be repayable
by half-yearly or monthly instalments over a period
of twenty-five years and a half. Every 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 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.
Form No. 10 in the First Schedule hereto shall be
altered where necessary to provide for payment by
monthly instalments. The decision as to whether
moneys advanced shall be secured by way of flat
mortgage or by instalment mortgage, and in the
latter case whether such moneys shall be repayable by
half-yearly or monthly instalments, shall be at the
discretion of the Minister.

(e.) Where money is advanced for the purpose of purchasing
stock and implements, or in special cases against
the natural increase of such stock, such money shall
be further secured by a collateral bill of sale in the
form No. 7 in the First Schedule hereto.

(f.) In cases where further advances are made for purposes
other than the purchase of stock or implements, and
the applicant has on the land stock or implements
not already encumbered by bill of sale, the Minister
may require, before granting such further advance,
collateral security over such stock or implements
by way of bill of sale in the form No. 7 in the First
Schedule hereto.

(g.) For the purpose of the administration of these regulations, the Minister may authorize the Commissioner
of Crown Lands, or any other officer of the Lands
and Survey Department, to pay advances, and any
such authority to make an advance issued by the
Minister shall be deemed to be an authority to