angle, 800 links, to the Southbridge-Leeston Road; and thence
south-west along that road, 300 links, to the point of commencement. As the same is delineated on the plan marked L. and S. 2/170, deposited in the Head Office, Department of Lands and Survey, at Wellington, and thereon bordered red.

F. D. THOMSON,
Clerk of the Executive Council.

Regulations under the Hutt Valley Lands Settlement Act, 1925.

CHARLES FERGUSSON, Governor-General.
ORDER IN COUNCIL.
At the Government House at Wellington, this 5th day of July, 1926.

Present:

His Excellency the Governor-General in Council.
WHEREAS by section fifteen of the Hutt Valley Lands Settlement Act, 1925 (hereinafter referred to as “the said Act”) it is enacted that the Governor-General may from time to time, by Order in Council, make regulations, not inconsistent with the said Act, for any purpose in relation to the said Act for which regulations are contemplated or required:

Now, therefore, His Excellency the Governor-General of the Dominion of New Zealand, in pursuance and exercise of the powers conferred on him as aforesaid, and acting by and with the consent of the Executive Council of the said Dominion, doth hereby make the following regulations, and declare that the said regulations shall come into force on the date of the publication thereof in the New Zealand Gazette.

REGULATIONS

1. WHERE pursuant to paragraph (c) of section seven of the said Act a license to occupy on deferred payments is issued the following provisions shall apply:
   (a.) The term of the license shall be thirty-four and one-half years, and shall commence on the next first day of March or first day of September following the date of the license.
   (b.) Interest payable on the outstanding balance of purchase-money payable under the license shall be calculated at the rate of five and one-half per centum per annum.
   (c.) The half-yearly instalments of purchase-money and of interest payable under the license shall be calculated and paid in accordance with the table in the First Schedule hereto.
   (d.) The first half-yearly instalment of purchase-money and interest shall be payable on the last day of February or the thirty-first day of August (as the case may be) next following the expiration of six months from the date of the license, and the succeeding instalments shall be payable half-yearly on the same days in each year thereafter.
   (e.) With the first half-yearly instalment there shall be paid the interest payable on the outstanding balance of purchase-money for the period between the date of the license and the date of the commencement of the term thereof.
   (f.) Where pursuant to subparagraph (v) of paragraph (c) of section seven of the said Act, the licensee pays, in addition to any prescribed half-yearly instalment, any sum or sums in reduction of the purchase-money the following provisions shall apply:
   (i.) In the case of each instalment of purchase-money which is thereby wholly satisfied, and on which no interest has begun to accrue, the corresponding instalment of interest shall not be payable.
   (ii.) The instalments, unsatisfied in whole or in part, shall, as to both purchase-money and interest, be deemed to be due and payable at half-yearly intervals computed from the due date of the instalment next preceding the instalment that is first so satisfied in whole or in part, and there shall consequently be no break in the periodical continuity of the payments to be made by the licensee.

2. Every license issued under paragraph (c) of section seven of the said Act shall be in the form in the Second Schedule hereto.

3. Every license issued to a purchaser under paragraph (a) of section seven of the said Act shall be in the form in the Third Schedule hereto.

FIRST SCHEDULE.
Term, 34½ years. Interest, 5½ per Centum.
TABLE showing for every £100 of Capital Value the Amount of Purchase-money and Interest included in Instalments of £3 5s. payable at the end of each Successive Period of Six Months during the Term.