Whereas the land described in subsection five hereof is vested in His Majesty, but is subject to a renewable lease for a period of thirty-three years from the first day of January, nineteen hundred and twenty-five, and such lease is now held by Richard Stevens Webb, of Blenheim, farmer: And whereas the capital value of the land as set forth in the said lease is six thousand four hundred dollars, which amount includes the sum of two thousand two hundred dollars, being the value, as stated in the second schedule to such lease, of the buildings on the said land: And whereas the house on the said land has been destroyed by fire, and insurance-moneys amounting to one thousand six hundred dollars have been paid to the Deposit Account of the Receiver of Land Revenue at Blenheim: And whereas the lessee proposes to erect a new house at a cost of one thousand one hundred dollars, and also to rebuild at a cost of one hundred dollars certain farm buildings requiring renewal: And whereas it, is desirable that the cost of such rebuilding operations shall be met out of the insurance-moneys hereinbefore referred to, and that in future the value of such buildings, together with the value of certain other building improvements now existing on the said land, shall not be included in the capital value of the land, but shall be repaid in the manner provided by section 61 of the Land for Settlements Act 1925: And whereas for the better carrying-out of the hereinbefore-mentioned proposals it is expedient that the Marlborough Land Board should be empowered to accept a surrender of the existing lease over the land, and to grant in substitution therefor a new lease for the balance of the term created thereby: Be it therefore enacted as follows:—
(1) Notwithstanding anything to the contrary in any Act, the Marlborough Land Board is hereby empowered to accept the surrender of the lease hereinbefore referred to, and to issue in substitution therefor a new lease for the balance of the term of thirty-three years from the first day of January, nineteen hundred and twenty-five, subject to the same terms and conditions as are incorporated in the said existing lease modified as follows:—
(b) Such new lease shall contain a condition for the repayment by the lessee of the sum of one thousand three hundred dollars (the value of building improvements) by half-yearly instalments, and the provisions of section 61 of the Land for Settlements Act 1925 shall apply in all respects to such repayment.
(2) Without further authority than this subsection, and notwithstanding anything to the contrary in any Act, the new lease granted in pursuance of the last preceding subsection may be registered under the Land Transfer Act 1952, and when so registered shall form a folium of the register-book in the Office of the District Land Registrar at Blenheim. Such new lease shall be deemed to be subject to all existing encumbrances, liens, and interests (if any) registered against the surrendered lease at the date of surrender, and the provisions of paragraph (c) of section 96 of the Land Act 1924, shall, with the necessary modifications, apply thereto.
(3) The sum of one thousand six hundred dollars, being the proceeds of insurance policy Number 16195359 at present in the Deposit Account of the Receiver of Land Revenue at Blenheim, shall, on the passing of this Act, be paid into the Land for Settlements Account.
(4) There shall be paid out of the Land for Settlements Account, without further appropriation than this section, the cost of replacing the house destroyed by fire and of rebuilding the farm buildings hereinbefore referred to:
Provided that such payment shall not exceed the sum of one thousand two hundred dollars.
(5) The land comprised in the said existing renewable lease and over which a new lease is to be issued as aforesaid is particularly described as follows:—
All that area in the Marlborough Land District, containing by admeasurement one hundred and eighty acres three roods thirteen perches, situated in Omaka Settlement, Taylor Pass Survey District, being Sections 1 of 4 and 1 of 5, Block I, on the plan of the said district, and being all the land comprised in renewable lease Number 133, registered in the District Land Registry at Blenheim under Volume 26, folio 250.
The words “six thousand four hundred dollars”
, “two thousand two hundred dollars”
, “one thousand six hundred dollars”
, “one thousand one hundred dollars”
, “one hundred dollars”
, “two hundred and ten dollars”
, “one thousand tree hundred dollars”
and “one thousand two hundred dollars”
were substituted, as from 10 July 1967, for the words “three thousand two hundred pounds”
, “one thousand one hundred pounds”
, “eight hundred pounds”
, “five hundred and fifty pounds”
, “fifty pounds”
, “one hundred and five pounds”
, “six hundred and fifty pounds”
and “six hundred pounds”
pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).
The Land Transfer Act 1915 was repealed, as from 1 January 1953, by section 245(1) Land Transfer Act 1952 (1952 No 52).