Newcastle Pasturage Reserve Act Amendment Act (NSW)

20 No. 12. 5()' VIC. 1808-

Neiccasfle Pasturage lleserce Act Amendment.

No. XII.

N k w c a s t i .k

IV\STl-lL\<iK R kSHRN E All Act to amend the “ Newcastle Pastui*ajj;e

A r r A.m k n u .mjcnt,

Reserve Act.” [YlUi April, 1893.]

Pivaiublo. TTTH EREA S certain applications to purcliasc land under tlie pro-

visions of the “ Newcastle Pasturage lleserve Act ” have hcen made and accepted, hut the persons to whom it lias been approved lo sell and grant land hy virtue thereof have not been or are not, by reason of adverse circumstances or other causes, in a position to jiay tlic instal­ ments as required hy that *Vct : Ee it therei'orc enacted hy the (Queen’s Most Excellent Majesty, hy and with the advice and consent of the Legislative Council and Legislative' Assi'inhly of New South "Wales in Parliament assembled, and by the; authority of the same', as follows :—

V V

I'ajniciilH L‘xt(-‘lulcd	1. Notwithstanding anything in the “ Newcastle Pasturage lleserve Act” wherever one or more instalments have been paid, as ])rovided in the aforementioned Act, the purchaser of such land (otherwise than by auction) or his transferee may within 0]ic month after the passing of this Act apply in writing to the Minister for Lands to bring his purchase undi'r the pi’ovisions hereof; and if such application he approved hy the Minister the total sum then remaining unpaid upon such purchase shall he divided into twenty equal parts, and one of such parts shall he ])aid within three months after the
over 2.‘> yejr^.
Interest reduced to	passing of this Act, together with interest at the rate of four per
four ]ier cent.	centum per annum, calculated on the full amount owing on such purchase from the date of the last payment made under the original Act up to the date of the first payment under this Act, and thereafter on each recurring date of such first payment an annual payment of one of such twentieth parts shall he made, together with interest on the uiijiaid balance of purchase money at the rate of four per centum per annum until the full amount of purchase money with interest thereon as aforesaid shall have been paid.

Forfei ture in default 2. Eailure to pay any amount due within the period allowed shall

of payments.

render the application for the land liable to forfeiture, and such for­ feiture shall take effect at the expiration of thirty clear days after notification thereof in the Government Gazette., and such forfeiture shall become absolute unless such amount shall have been paid within one year from the due date thereof or such extension or extensions as the Governor, with the advice of the Executive Council, shall have authorised.

3. In any case where a forfeiture has been notified under the provisions of the “ Newcastle Easturage lleserve A c t” it shall be competent for the Governor, with the advice of the Executive Council, to reverse such forfeiture on payment, ivithin three months from the passing of this Act, of the first instalment at the rate reepured hy the first-mentioned *Vct (togidher with such fine as may he determined, not exceeding ton per centum thereof) : Provided that no conllicting interests shall have arisen in c'onnection with the land iqi to the date of ajiproval of acceptance of the money. And in such case the balance of purchase money shall thereafter he paid in twenty equal annual instalments together with interest as aforesaid, due and payable on the recurring date of the ga/.ettal of such reversal of forfeiture.

Forfe i tu re	may be
reversed.

Short title. 1. This Act maybe cited as the “ Newcastle Pasturage lleserve -Vet Amendment Act,” and shall he read with and as forming ]»art of the “ Newcastle Pasturage lleserve Act.”

No. NHL