CLOSER SETTLEMENT (AMEND
MENT) ACT.
Act No. 7, 1914.
An Act to authorise the purchase by the Minister of certain lands for sett lement purchase ; to make further provision for the disposal of land and improvements within sett lement purchase areas ; to confer and impose certain rights and liabilities on minors ; to reduce the capital value of certain sett lement pur chases ; to provide for the payment of interest on postponed instalments ; to fix a date for the payment of instalments on sett lement pur chases; to enable the Minister to grant exten sion of time to pay instalments in certain cases ; to amend the Closer Sett lement Acts, the Closer Sett lement Promotion Act , 1910, and other Acts ; and for purposes consequent thereon or incidental thereto. [Assented to, 16th April, 1914.]
| 1 . This Act may be cited as the "Closer Settlement (Amendment) Act, 1914," and shall be construed with the Closer Settlement Promotion Act, 1910, the Closer | Settlement |
lative Council and Legislative Assembly of New South BE it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis
Wales in Parliament assembled, and by the authority of the same, as follows : —
Short title.
Settlement Act, 1904, the Closer Settlement (Amend ment) Act, 190G, the Closer Settlement (Amendment) Act, 1907, the Closer Settlement (Amendment) Act, 1900, and the Closer Settlement (Amendment) Act, 1912.
The five last-mentioned Acts are herein referred to as " the Closer Settlement Acts."
Applications under the Closer Settlement Promotion Act, 1910.
2. Where application is made under section three of the Closer Settlement Promotion Act, 1910, the Minister, instead of proceeding under that Act, may, with the vendor's consent, purchase such land at a price not exceeding that recommended by an advisory board and a valuer of the Government Savings Bank.
Lands so purchased by the Minister shall—subject to payment by the applicant to the Crown of the prescribed percentage of the purchase money by way of a deposit and survey fee or other fees and expenses—vest in and be held by the applicant as a settlement purchase, under the provisions of the Closer Settlement Acts. The amount of the purchase money paid by the Minister for each settlement purchase shall for the purposes of such Act be deemed to be the capital value of the settlement purchase.
How purchase money to be paid.
3. Any purchases or resumptions of land under the last-preceding section, shall be paid for—
Closer Settlement Acts, and any purchases under the
(a)
in cash, or with the concurrence of the owner, vendor, or mortgagee, by inscribed stock or Treasury bills ; or
(b)
with the concurrence aforesaid, by certificate issued by the Minister, authorising the pay ment out of the Treasury of the amount of the purchase-money or compensation in such instalments, and bearing interest at such rate as may be therein specified. Such certificate shall be negotiable only with the…