War Service Land Settlement and Closer Settlement (Amendment) Act 1951 (NSW)

WAR SERVICE LAND SETTLEMENT AND CLOSER

SEHLEMENT (AMENDMENT) ACT.

Act No. 40, 1951.

George VI. An Act to make further provision for and in-

Ho. 4 9̂51. relation to the settlement on the land of members or discharged members of Hia Majesty’s naval, mihtary or air forces and other ehgible persons; to validate certain matters; for these and other purposes to amend the Closer Settlement Acts, the Crown Lands Consolidation Act, 1913, the War Service Land Settlement Act, 1941, and certain other Acts in certain respects; and for purposes connected therewith. [Assented to, 7th December, 1951.]

T 3 E it enacted by the King’s Most Excellent Majesty,,

_I3 by and with the advice and consent of the Legis­

lative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows :—

Short title. 1 , This Act may be cited as the “ War Service Land

Settlement and Closer Settlement (Amendment) Act,.

1951”.

War Service Land Settlement and Closer Settlement 289

(Amendment) Act.

2 . (1) The Closer Settlement Amendment (Conver- 4^951.

sion) Act, 1943, as amended by subsequent Acts, is Amendment

amended—• ”8 ^ 94^°’

(a) by omitting- from subsection one of section 9a scc. 9a.

the words “ one OAvner” where lirstly occurring (AppUca-

tions to

and by inserting in lieu thereof the words

Minister

to acquire

lands.)

(b)	by inserting in the same subsection after the word “ owner” where secondly occurring the
(c)	hy inserting in the same subsection after the word “ jn-ice” the words “ or prices” ;

{d) by omitting from the same subsection tJie words “ For the purposes of this subsection;—-

(a)	land held by joint owners or tenants in common shall be deemed to be land held by the one owner;
(b)	separate parcels of land which adjoin or are adjacent to one another and are held by different owners but—

(i)   are worked by or on behalf of or leased to a company or partnership of which such owners or any of them are members: or

(ii)  in the opinion of the Minister after report by an advisory board are occupied, controlled or used sub­ stantially in the interests of one of such OAvners,

shall be deemed to be land held by the one owner” and by inserting in lieu thereof the words “ Any such application may include lands OAvned by the applicant as well as lands OAvned

by any other person or persons ’ ’;

<(e) by inserting in subsection five of the same

section after the word “ owner” the words “ or OAvners of the land proposed to be included or excluded or the price of which is proposed to be increased or decreased” ;

( f )

290                 War Service Land Settlement and Closer Settlement

(Amendment) Act.

Mo. 40, 1951.	(f)	by inserting in subsection six of the same sectionj after the word “ owner” wherever occurring the words “ or owners” ;
(g)	by inserting in the same subsection after the- word “ has” where firstly occurring the words “ or have” ;
(h)	by inserting in the same subsection after the- word “ his” the words “ or their” .

Amendment	(2)	The Crown Lands Consolidation Act, 1913, as
of Act No.

7,1913. amended by subsequent Acts, is amended—

Bee. 147n.	(a) by omitting from subsection one of section 147d'
tion to

(Applica­	the words “ one owner” where firstly occurring
Minister	and by inserting in lieu thereof the words-
to acquire
lands.)	“ owner or ovmers” ;

(b)	by inserting in the same subsection after the word “ owner” where secondly occurring the words “ or owners” ;
(c)	by inserting in the same subsection after the* word “ price” the words “ or prices” ;
(d)	by omitting from the same subsection the words “ For the purposes of this subsection—

(a)	land held by joint owners or tenants in common shall be deemed to be land held’ by the one owner;
(b)	separate parcels of land which adjoin or are adjacent to one another and are held by different owners but

(i)  are worked b}" or on behalf of or leased to a company or partnership of which such owners or any of them are members; or

(ii)  in the opinion of the Minister after report by the Commission are occupied, controlled or used substantially in the interests of one- of such owners,

shall be deemed to be land held by the one- owner” and by inserting in lieu thereof the

words

War Service Land Settlement and Closer Settlement 291

(Amendment) Act.

words “ Any such application may include lands owned by the applicant as well as lands owned by any other person or persons” .

3 . The Closer Settlement (Amendment) Act, 1907, as	Amendment
of Act No.

amended by subsequent Acts, is amended by omitting	12, 1U07.
from subsection ( 1 a ) of section six the word “ six” where	See. 6.
firstly occurring and by inserting in lieu thereof the word	on disposi­
(Restriction
“ eleven” . 4 . The War Service Land Settlement Act, 1941, as	tion.)
Amendment
of Act No.
amended by subsequent Acts, is amended—	43, 1941.
Sec. 3.

(a) (i) by inserting in subsection five of section three after the words “ member of the	(Areas may be
Kele(,*tion by
set apart for

forces” wherever occurring the words “ or	members or
disc.iarged
discharged member of the forces” ;	members of
tfie forces,

(ii) by omitting from the same subsection the words “ on service” ;	soldiers or
discharged
other eligible
persun^.)

(b) (i) by inserting in subsection two of section four after the word “ forces” where thirdly	See, 4.
tion Com­
(Classifica­

and fourthly occurring the words “ or	mittee.)
discharged member of the forces” ;

(ii)  by omitting from the same subsection the words “ on service” ;

(c) (i) by inserting in section five after the words “ member of the forces” where firstly,

Sec. 5.

(Applica­

tions by

secondly and thirdly occurring the words	pni'ent or relative or
“ or discharged member of the forces” ;	otlier

(ii) by omitting from subsection one of the same section the words “ on service” ; person.)

(iii)  by omitting from subsection two of the same section the words “ and also to furnish a certificate from the appropriate Common­ wealth authoritj' that the member of the forces is on service outside the State of New South Wales” .

5 . (1) The Closer Settlement Amendment (Conver- Further

sion) Act, 1943, as amended by subsequent Acts, is of Act No.

further amended— 38,1943.

(a)	by inserting in subsection two of section eleven See. 11. after the word “ mortgage” where thirdly (Restric- occurring the words “ or by way of mortgage traDsfer.)
to the Minister; (b)

292                 War Service Land Settlement and Closer Settlement

(Amendment) Act.

:t(o. 40, 1951. (b) by omitting from subsection three of the same section the words “ by adding to such first- mentioned amount an amount equivalent to forty times the annual rent payable under this Act” and by inserting in lieu thereof the words—

“ as follows:—

(i)  in the case of a closer settlement lease the title to which commenced before the commencement of the "War Service Land Settlement and Closer Settle­ ment (Amendment) Act, 1945, or a settlement purchase lease or a group purchase lease by adding to such purchase money an amount equivalent to forty times the annual rent payable under this Act, and

(ii)  in the case of a closer settlement lease the title to which commenced after the commencement of the War Service Land Settlement and Closer Settlement (Amendment) Act, 1945, by adding to such purcnase money an amount equivalent to forty times the annual rent payable under this Act together with an amount equivalent to the capital value owing to the Crown in respect of improvements on the land” ;

New secs.	(c) by inserting next after section 13a the following
13b and

13c. new sections:—

Payment foi	13b. Where in pursuance of the provisions of
a sur­

rendered	section thirteen of this Act the holder of any
closer	closer settlement lease surrenders the whole or
settlement
lease.	part thereof he may be paid such amount as the Minister may consider the circumstances warrant: Provided that the amount so paid shall not exceed the value of improvements, effected or purchased by such holder or by a previous holder of the closer settlement lease, which are on the surrendered land at the time of the surrender.

13c.

War Service Land Settlement and Closer Settlement 293

(Amendment) Act.

13c. It shall not be lawful for the holder of any settlement purchase lease or group purchase	No. 40, 195
Authorised person not
lease or closer settlement lease to obstruct any	to be
person acting under instructions from the	obstructed.
Minister from entering upon the land under	cf. .4-ct No.
7,1913,
lease whenever such person may require to do so.	8. 227.

(2) The War Service Land Settlement Act, 1941, Further

as amended by subsequent Acts, is further amended—-	of'l'ct No”*
43,1941. '

(a)

section three the words “ Any such application

made after the fifteenth day of August, one cates.)

by inserting at the end of subsection three of See. 3. second day of September, one thousand nine hundred and fifty, shall be deemed to have been made within the time prescribed by this subsection” ;

(b)	by inserting in subsection two of section four Sec. 4.
after the word “ subsection” the words— (Classifica­ tion

“ Where before the commencement of the War Coromittee.)

Service Land Settlement and Closer Settlement (Amendment) Act, 1951, any application for a qualification certificate was withdrawn by the applicant, or the committee refused to grant an application for a qualification certificate or other certificate under this subsection, the committee shall have power and shall be deemed always to have had power, upon the request of the appli­ cant made not later than twelve months after such commencement, to reconsider any such application and to deal with such application in accordance with the foregoing provisions of this subsection” .

(c)	by inserting at the end of section 8g the following	Sec. 8o.
new subsection;—	Secretary
(The Under

(2)	Any regulation, whether made before or	and
prescribed

after the commencement of the War Service

ofScer may

Land Settlement and Closer Settlement (Amend­

deal with

certain

ment) Act, 1951, shall be deemed always to have

matters! on

behalf of

the

empowered Ministor.)

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(Amendment) Act.

K». 40, 1951. empowered the Under Secretary or other officer therein prescribed on behalf of the Minister to deal with such matters as may be therein prescribed and any decision given by the Under Secretary or other prescribed officer which would have had the same effect as if given by the Minister in person had such regulation been in force at the time of the giving of such decision shall be deemed always to have had the same, effect as if given by the Minister in person.

Further	(3)	The Crown Lands Consolidation Act, 1913, as
ameadmenl

of Act No.	amended by subsequent Acts, is further amended—
7,1913.
Sec. 161.

(Payment ol	(a) (i) by inserting in subsection two of section one hundred and sixty-one after the word “ surrendered” where firstly occurring the words “ or where the term of a holding has expired’’;
survey fees.)

(ii)  by inserting in tlie same subsection after the word “ shall” the words “ not exceed the survey fee payable in respect of the old holding, and may further direct that such firstmeutioned survey fee” ;

(iii)  by inserting in the same subsection after the word “ surrender” the words “ or expiration” ;

(iv)  by inserting in the same subsection after the word “ surrendered” where secondly occur­ ring the words “ or the term of which has expired” ;

(b) by inserting at the end of the same section the following now subsections:—

(3) Where in this Act or regulations under

this Act it is provided that the cost of any necessary survey or subdivision shall be paid, the Minister shall have and shall be deemed always to have had power to waive payment of so much of such cost as he considers to be excessive.

(4).

War Service Land Settlement and Closer Settlement 295

(Amendment) Act.

(4) Where before the commencement of the

War Service Land Settlement and Closer Settle­ ment (Amendment) Act, 1951, the Minister has waived payment of the whole or any part of any survey fee payable under this Act or regulations under this Act, he shall be deemed to have had power to do so.

(c) by inserting next after section two hundred and New sec. fifty-five the following new section:—

255a. Any person who at the commencement Authorised

of the War Service Land Settlement and Closer cancelled at any time by the person for the time being occupying the office of Minister.

Settlement (Amendment) Act, 1951, was duly secs. 254

authorised as provided by section two hundred

and fifty-four or two hundred and fifty-five of

this Act, or any person duly authorised as

aforesaid after such commencement, shall

continue to be so authorised notwithstanding

that the Minister who duly authorised such

person has ceased to hold office as Minister:

(d) by inserting next after subsection two of section two hundred and seventy-two the following new

See. 272.

(Restriction

as to assigns

subsection:—■	of c ertain holdings
(2a) The restriction on transfer imposed by subsection one of this section shall not apply to	applied for
after 1st
a transfer of any holding as is hereinbefore	Februarv,
1909. ■
mentioned where—

(a) such holding is a small holding;

(b) the local land board reports that in its opinion such transfer would he in the best interests of land settlement notwith­ standing that it would result in the proposed transferee holding substantially more than a home maintenance area; and

(c) - the Minister consents to the transfer.

The Minister may consent to such transfer

if the local land board so recommends or he may

at his discretion refuse it.

(e)

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(Amendment) Act.

No. 40, 1951.	(e)	by inserting next after subsection two of
See. 274.	section two hundred and seventy-four the
tions as to
(Eestric-	following new subsection;—
assigns of

homestead	(2a) The restriction on transfer imposed by
farms and

Crown-

subsection one of this section shall not apply

ieases.)

to a transfer of any such holding as aforesaid

where—

(a) such holding is a small holding;

(b) the local land board reports that in its opinion such transfer would be in tbe best interests of land settlement notwith­ standing that it would result in the proposed transferee holding substantially more than a home maintenance area; and

(c) the Minister consents to the transfer. The Minister may consent to such transfer

if the local land board so recommends or he may

at his discretion refuse it.

Amendment G. The War Service Land Settlement and Closer

14^ 95o!°	Settlement Validation Act, 1950, is amended by inserting
New.sec.	next after section thirteen the following new section;—•
I.Sa.
or personal

Trustees 13a. (1) Notwithstanding anything contained in

representa­	any Act where land, immediately before its vesting
tive deemed
entitled to	under the provisions of section five, six, seven, eight
sell and	or nine of this Act, was held by a trustee or personal
convey land
vested	representative such trustee or personal representa­
under this	tive cr his successor in office shall be entitled to sell
Act.	and convey the land so vested, and to agree upon and
cf. Act No.
6,1919,	receive all compensation money whatsoever payable
8. 157a.	in respect of the vesting of such land.
(2) Such compensation money shall be held by the trustee or personal representative receiving the same on the trusts affecting the land in respect of which the compensation money is paid, or atfecting the compensation money, and subject to the terms of the instrument (if any) containing such trusts and to the provisions of this section on trust for investment in accordance with section fourteen of the Trustee Act, 1925-1942.

War Service Land Settlement and Closer Settlement 297

(Amendment) Act.

(3) A sole trustee other than a trust corporation or a trustee or body of trustees incorporated by any Act or a person appointed as a sole trustee by tlie creator of tbe trust shall not be entitled under this section to agree upon or to receive the compensation money payable in respect of a vesting, but upon tlie appointment of an additional trustee of the instrument containing the trust affecting tbe land approved by tlie Crown Solicitor such trustees shall be entitled under this section to agree upon and receive such money, but this subsection does not affect the right of a sole personal representative as such to agree upon and give a valid receipt for or direct the application of such compensation money.

4^951.

(4) (a) Subject to the provisions of the instrument (if any) creating such trusts, the trustees or the personal representatives may, with the consent of the person of full age and free from disability, who would have been entitled to the income of the land vested, apply the compensation money paid under this section in respect of a vesting in the purchase of other lands to be conveyed upon the like trusts as the lands in respect of which such money has been paid stood limited.

(b) If the person who would have been

entitled to the income is—

(i)  an insane or incapable person, the consent of the committee or manager of his estate, or if there is no such committee or manager, the consent of the Master in Lunacy;

(ii)  an insane patient, the consent of the Master in Lunacy or of the Court,

shall be sufficient authority to protect the trustees or personal representatives so applying the compensa­ tion money.

(c) If the person who would have been

entitled to the income is an infant, or a person who

cannot be found or ascertained, or as to whom it is

uncertain

War Service Land Settlement and Closer Settlement

(Amendment) Act.

Ho. 40, 1951.	uncertain whether he is living or dead, the trustees or personal representatives may so apply the money without the consent of any person.
(5) The costs of the appointment of an additional trustee under subsection three, and of obtaining the necessary consents under subsection four of this section, shall be paid by the Crown.
(6) The powers of trustees and personal representatives under this section shall be cumulative, and not in substitution for, or in derogation of any other powers of any such persons to sell and convey land the subject of a vesting, or to agree upon and receive compensation money payable in respect of a vesting.
(7) In this section unless the context otherwise requires the expressions “ personal repre­ sentative” , “ trust corporation” and “ Court” have the same meanings respectively as those expressions have in the Conveyancing Acts, 1919-1943.
(8) This section shall be deemed to have applied to and in respect of any land vested under section five, six, seven, eight or nine of this Act as on and from the date upon which sudi land so vested.
Further

amendment 7 . The Closer Settlement (Amendment) Act, 1907, as

of Act No. amended by subsequent Acts, is further amended—

12, 1907. (a) (i) by inserting at the commencement of subsec­

Sec. 5.	tion three of section five the words “ Subject
(Lands to
■which added	to subsection (3a) of this section” ;
value

accrues by (ii) by inserting in the same subsection after the

reason of	words “ such works” the following new
works etc.
public	paragraph;—■
may be
notified for	“ Where any such provisional district is or by transferring thereto lands from £,nother provisional district or district, the Governor may, at any time within twelve months after such alteration, notify in the Gazette the boundaries of any of such additional lands so included or of any of the
closer settle­	altered by including therein additional lands
ment.)

lands

War Service Land Settlement and Closer Settlement 299

(Amendment) Act.

lands so transferred or of any lands in such	4^961.
provisional district held in the same interests as any of such additional lands or as any of the lands so transferred, to which an added value, in his opinion, will accrue or has accrued by reason of the proposed construction or utilisation or of the construction or utilisation of the works of such provisional district or of the district constituted upon completion of such works” .

■(iii) by inserting in subparagraph (ii) of the same subsection after the words ‘‘additional lands” the words ‘‘or by transferring thereto lands from another district or from

a provisional district” ; .

(iv)  by inserting at the end of the same subsection the words ‘‘Provided that where any lands included in or transferred to such district are held in the same interests as any other lands in such district the Governor may notify the boundaries of such other lands under this subsection as if such other lands had comprised part of the lands held in the same interests which were included in or transferred to such district” ;

(v)  by inserting next after the same subsection the following new subsection

(3a) The Governor may, at any time within twelve months after the commence­

ment of the War Service Land Settlement

and Closer Settlement (Amendment) Act,

1951, notify in the Gazette the boundaries of

the lands to which, in his opinion, an added

value will accrue or has accrued by reason

of the proposed construction or utilisation

or of the construction or utilisation of the '

works of the Denimein Provisional Domestic and Stock Water Supply and Irrigation District or of the district constituted upon completion of such works.

Where

300                  War Service Land Settlement and Closer Settlement

(Amendment) Act.

Ho. 4^951. Whore such provisional district is altered by including therein additional lands or by transferring thereto lands from another provisional district or district, the Governor may, at any time within twelve months after

. such alteration, notify in the Gazette the boundaries of any of such additional lands so included or of any of the lands so trans­ ferred or of any lands in such provisional district held in the same interests as any of such additional lands or as any of the lands so transferred, to which an added value, in his opinion, will accrue or has accrued by reason of the proposed construction or utilisation or of the construction or utilisa­ tion of the works of such provisional district or of the district constituted upon com­ pletion of such works.

Where such district— ■

(i)  when constituted includes any land in addition to that which was included in such provisional district; or

(ii)   after being constituted is altered by including therein additional lands or by transferring thereto lands from another district or from a provisional district,

the Governor may, at any time within twelve months after such constitution or after any such alteration, as the case may be, notify in the Gazette the boundaries of any of the lands so included or of any of the lands so transferred or of any lands in such district held in the same interests as any of such lands so included or as any of such lands so transferred to which an added value, in his opinion, will accrue or has accrued by reason of the construction or utilisation of the works of such district.

̂ (b)

War Service Land Settlement and Closer Settlement 301

(Amendment) Act.

{b) (i) by inserting at the commencement of paragraph (a) of subsection four of the same section the words “ Subject to subsection (4a) of this section” ;

. <ii) by inserting in the same paragraph after

the words “ each such provisional district”

the following new paragraph:—

“ Where any such provisional district is altered by including therein additional lands or by transferring thereto lands from another provisional district or district, the (lovornor may, at any time within twelve months after such alteration, notify in the Gazette the boundaries of any of such additional lands so included or of any of the lands so transferred or of any lands in such provisional district held in the same interests as any of such additional lands or as any of the lands so transferred, to which an added value, in his opinion, will accrue or has accrued by reason of the proposed construction or utilisation or of the construction or utilisation of the works of any such provisional district or of the respective districts constituted upon

'

completion of the works of each such

provisional district” ;

(iii)  by inserting in subparagraph (ii) of the same paragraph after the words “ additional lands” the words “ or hy transferring thereto lands from another district or from a provisional district” ;

(iv)  by inserting at the end of the same paragraph the words ‘ ‘ Provided that where any lands included in or transferred to such district are held in the same interests as any other lands in such district the

Governor

302                  War Service Land Settlement and Closer Settlement

(Amendment) Act.

No. 40, 1951. Governor may notify the boundaries of such other lands under this subsection as if such other lands had comprised part of the lands held in the same interests which were included in or transferred to such district” ;

(v)  by inserting next after the same subsection the following new subsection:—

(4a) Where before the commencement of the War Service Land Settlement and Closer Settlement (Amendment) Act, 1951, a provisional district constituted under Part VI of the Water Act, 1912, or under that Act as amended by subsequent Acts, had been altered by including therein additional lands or by transferring thereto lands from another provisional district or district, the Governor may, at any time within twelve months after such commencement, notify in the Gazette the boundaries of any of such

' additional lands so included or of any of the lands so transferred or of any lands in such provisional district held in the same

' interests as any of such additional lands or as any of the lands so transferred, to which an added value, in his opinion, will accrue

' or has accrued by reason of the proposed construction or utilisation or of the construction or utilisation of the works of such provisional district or of the district constituted upon completion of such works.

(c) by omitting from subsection five of the same section the words “ or subsection four” and by inserting in lieu thereof the words figures and letters “ subsection (3a), subsection four or

subsection (4a) ” ;

(d) by omitting from subsection six of the same section the words ‘ ‘ or subsection four ’ ’ wherever

■	■
% X* occurring

War Service Land Settlement and Closer Settlement 305

(Amendment) Act.

occurring and by inserting in lien thereof the ô. 40, 1951.

words, figures and letters “ subsection (3a),

subsection four or subsection (4a) ” ;

(e) by inserting in paragraph (f) of subsection seven of the same section after the words “ think just” where first occurring the words—

“ Provided further that where any land comprised within boundaries which have been notified pursuant to subsection (3a) or subsection (4a) of this section was sold at any time before the commencement of the War Service Land Settlement and Closer Settlement (Amendment) Act, 1951, the advisory board or the Land and Valuation Court, as the case may be, if satisfied that the sale was made in good faith and that the price paid for the land included any part of such added value, may make such allowance therefor in its assessment or determination as it may think just” .

8 . (1) The Closer Settlement (Amendment) Act, I’lrther

1907, as amended by subsequent Acts, is further o”ActNo!*̂

amended—

(a)	by inserting at the end of subsection four of
section four the following new paragraph:— p^reh^or

land.)

(c) In the case of any such purchase or resumption a recital or other appropriate statement in the instrument of conveyance or surrender or in the notification in the Gazette of the resumption, as the case may be, to the o.ffect that the purchase or resumption is made for the purposes of section three of the War Service Land Settlement Act, 1941, as amended by subsequent Acts, shall be conclusive evidence that the purchase or resumption is made for such purposes, and the provisions of paragraph (a) or (b) of this subsection, as the case may be, shall apply accordingly.

(b)

304                 War Service Land Settlement and Closer Settlement

(Amendment) Act.

Mo. 40, 1951.	(b)	by inserting in paragraph (f) of subsection
Sec. 5.	seven of section five after the words “ since that
within
(Lands	date” where secondly occurring the following
fifteen	words;—
miles of
railway and

proposed “ In the case of any such purchase or

lands to	resumption a recital or other appropriate
wliieli added	statement in the instrument of conveyance or
value
accrues by	surrender or in the notification in the Gazette
reason of	of the resumption, as the case may be, to the
public
works )	effect that the purchase or resumption is made for the purposes of section three of the War Service Land Settlement Act, 1941, as amended by subsequent Acts, shall be conclusive evidence that the purchase or resumption is made for such purposes, and the provisions of subparagraph (i) or (ii) of the immediately preceding proviso, as the case may be, shall apply accordingly” .
amendment

Further (2) The Crown Lands Consolidation Act, 191.3, as

of Act No.	amended by subsequent Acts, is further amended by
7, 1913.	inserting at tbe end of section one hundred and ninety-
Sec. 197.
(Exchanges	seven the following new subsection:—•
and
for public

purchases	(4) In the case of any purchase or resumption under this section a recital or other appropriate statement in the instrument of conveyance or surrender or in the notification in the Gazette of the resumption, as the case may be, to the effect that the purchase or resumption is made for the purposes of section three of the War Service Land Settlement Act, 1941, as amended by subsequent Acts, or Part
purposes.)
IVa of the Closer Settlement Amendment (Conver­
sion) Act, 1943, as amended by subsequent Acts, as the case may be, shall be conclusive evidence that the purchase or resumption is made for the purposes as recited or stated, and the provisions of paragraph (a) or (b) of the proviso to subsection three of this section, as the case may be, shall apply accordingly.

(3) Subsection one of this section shall be deemed to have commenced on the third day of May, one thousand nine hundred and fifty.

VALUATION