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Ture Whakahaere Rahui Maori

Special Provisions relating to Leases and Contracts in force prior to Land being vested in the Public Trustee

Special Provisions relating to Leases and Contracts in force prior to Land being vested in the Public Trustee.

20.If land vested in the Public Trustee shall when such land is so vested be subject to any valid lease, the Public Trustee, if he thinksPublic Trustee may accept surrender of leases in force before and when land vested by Act, and may grant new leases. fit, at any time within two years after such land shall become so vested, 15may accept a surrender thereof and grant a new lease of the land comprised in the surrendered lease or any part thereof under the provisions hereof, subject to the conditions following:—
(a.)The lessee shall, in such manner and form as shall be provided by the Public Trustee by regulations, make application 20for a new lease.
(b.)If the Public Trustee in his discretion considers the application ought to be given effect to, then a valuation shall be made by an appraiser appointed by the Public Trustee of the land included in the lease to be surrendered as for an estate 25in fee-simple, without the substantial improvements of a permanent character thereon, and also a valuation of all substantial improvements of a permanent character in existence at the time of such valuation on the land comprised in such lease, and which improvements would at 30the end or other sooner determination of the term become the property of the landlord. When by or under any lease surrendered as aforesaid, or by any statute under which the lease was made, provisions are made for the renewal of the term, and the lessee would under such provisions 35be entitled, if he does not become under the renewal provision the lessee, to have paid to him by a new lessee the value of any improvements on the land, or where by or under any such lease or statute provisions are made for renewing the term at a rack-rent of the land demised 40without the improvements thereon, then such valuations as are by this subsection directed to be made shall be made, but the lessee shall not pay for the value of such improvements. After the making and publishing of the above-mentioned valuations, which shall be 45effected by serving a copy of the same on the lessee and another copy on the Public Trustee, the Public Trustee may, at his discretion, grant to the lessee a lease of such land with a right of perpetual renewal, as provided by this Act, upon the following terms and conditions:—
(1.)50The lessee shall pay to the Public Trustee the value of all substantial improvements so ascertained as aforesaid, or if unable to pay the same the Public Trustee may if he thinks fit take security therefor over the new lease at a rate of interest of not less than five pounds per centum 55per annum, as fixed by the Public Trustee.page 10
(2.)The rent shall be five pounds per centum per annum on the value of the land as fixed by the valuation, and shall be payable half-yearly in advance.
(3.)The lease shall contain such covenants, conditions, and provisions as the Public Trustee may think proper. 5
(4.)If the land is within any city, town, or borough, no lease shall be granted to any one lessee or to two or more lessees jointly or in partnership of more than two acres of land.
(5.)If the land is outside any city, town, or borough, and is in the opinion of the Public Trustee rural or suburban land, no 10 lease shall be granted to one lessee or to two or more lessees jointly or in partnership of more than five acres of suburban land or six hundred and forty acres of rural land.
(6.)If the land is not within any city, town, or borough, and is not rural or suburban land, then no lease shall be granted 15 to one lessee or two or more lessees jointly or in partnership of more than five thousand acres of land.
(7.)Any person who would be disqualified under any of the other provisions of this Act from holding any lease thereunder shall be disqualified from holding a lease under 20 the provisions of this section.
(8.)No lessee shall, under the provisions of this section, unless the same is otherwise expressly provided, be entitled to hold any greater area of land than he would be entitled to hold under the other provisions of this Act; and all 25 the provisions of this Act which limit the area of land or the number of leases to be held by any one person or by two or more persons jointly or in partnership shall extend and apply to leases to be granted under this section.
(9.)If the land to be leased is within any city, town, or borough, 30 then the term of the lease shall be the same as in cases where under the other provisions of this Act land in any city, town, or borough is leased, and such lease shall be perpetually renewable in like manner and subject to the like conditions. If such land is in the opinion of the Public 35 Trustee rural or suburban land, then the term of the lease shall be the same as in cases where under the other provisions of this Act rural or suburban land is leased, and such lease shall be perpetually renewable in like manner and subject to the like conditions. Where the land is 40 not within any city, town, or borough, and is not rural or suburban land, the term of the lease shall be the same as in cases where under the other provisions of this Act land is leased as small grazing-runs, and such lease shall be perpetually renewable in like manner and subject to the 45 like conditions.
(10.)If any doubt arises as to which of the classes of land hereinbefore mentioned in subsections four, five, and six of this section any land to be leased comes under, the Public Trustee shall decide the doubt, and his decision 50 shall be final and conclusive.
(11.)The Public Trustee shall notify to the lessee, who under the provisions of this section becomes entitled to a new lease, that he is prepared, upon the lessee complying with the provisions of this section and surrendering his lease, and 55 executing the new lease, to grant to him a new lease as provided by this section.page 11
(12.)Within twenty-one days after the Public Trustee has given the notification under subsection eleven, the lessee may, by notice delivered at the principal office of the Public Trustee, notify that he declines to take a new lease, whereupon the 5application for a new lease shall be at an end, and all moneys paid or deposited with the Public Trustee under the provisions of this section, and any regulations made under the provisions of this Act relating thereto, shall be forfeited to the Public Trustee and shall be applied to the 10general administration of this Act.
(13.)The lessee shall pay the first half-year's rent payable under the new lease before the Public Trustee executes such new lease, and shall pay the like costs and charges as in cases where leases are granted under the other provisions 15of this Act, together with any stamp duty required.
(14.)The lease, if registerable, shall be registered under "The Land Transfer Act, 1885," or "The Deeds Registration Act, 1868," according to the title, by the Public Trustee before being delivered to the lessee.
(15.)20If any lessee under this section shall, within thirty days after being required by notice so to do, fail to execute the new lease, then the Public Trustee may by notice (given in such manner, either personally or by advertisement, or, otherwise, as the Public Trustee thinks 25proper) to the lessee notify that his right to the grant of such lease is forfeited, and thereupon such right shall be absolutely forfeited, and all moneys paid by the lessee under the provisions of this section shall be absolutely forfeited to the Public Trustee, and such moneys shall be 30applied to the general administration of this Act.
(16.)No lessee shall be entitled to make application for a new lease under this section until he shall have paid to the Public Trustee all rent due under his lease up to the date of the commencement of such new lease, nor shall 35he be entitled to make such application until he has performed all the covenants, conditions, and provisions contained in his lease.
(17.)The term of every new lease, if granted under this section, shall commence from the day when the application for 40the new lease is delivered at the office of the Public Trustee.

All the provisions of this Act which are not inconsistent with the provisions of this section shall extend and apply to leases made under the provisions of this section.