THE LAND BILL.

Otago Daily Times, Volume 13696, Issue 13696, 12 September 1906, Page 2

THE LAND BILL.

AN SYNOPSIS. fHr',TELEBKAPJI.I .WELLINGTON, September 11. As a matter of public interest the Hon. Sir J. G. Ward, Prime Minister, sends herewith the following synopsis of the Land Hill, introduced to-night by the Minister of Lauds:— . •■• • The.Land' Aot Amendment Bill, which 'has boon brought down by' tho Government, covers about 11 pages of clo'scly-printcd matter. It is entitled ''an act to amend the law relating to tho disposition of Crown lands, and also to limit tho aggregation of private estates in lurid."

Tho first "portion of it deals with a national endowment for educational and othor purposes. Section 3 reserves all tho Crown lands unsold or unsoleoted on the coming into operation of the aot, with the exception of lands required under the Land lor Settlements Act, endowments and reserves. For all purposes of administration tho national ondowment remains as Crown lands, but the proceeds are to bo paid into tho national endowment, account. Out of that account the'money is to bo distributed for educational purposes, for hospitals and charitable aid purposes, and for oldago pensions.

The next portion of the bill deals.with the now 66 years' lease] which is to he known as "tho renewable lease. 1 ' 'Provision is made that all lands, except pastoral lands with small grazing runs, aro to be disposed of under the Tenowablo lease system. Under this system tho leases are for 65 years, and tho rentals aro to bo 5 per cent, if the lands are under the Land for Settlements Act, and 4 per cent, for all the other lands. The provision in regard to the renewal of leases generally is that, at the end of 66 years,- an appraisement is mado of the value of the land, and the value of tho improvements thereon, and of wjiat would be a fair yearly rental. If the tenant is agreeable, lib may have t.h? land at the new rental for another period of 66 years, but if he does not agree to take it ho is to receive payment for his improvement, together with the repayment of atiy moneys ho may have pa.id to reduce the capital; Powet' is.reserved under the bill to retain from, his payments moneys to make up for depreciation or damage to (Ik, property. Tho holders of lenses in perpetuity, deferred payment licenses, or perpetual leaseholders may convert into renewable leases—in . the ease of land for settlements 5 per cent., and in all other cases at 4 per cent. If the holder of a lease, :ii| perpetuity desires to purchase tho''.and he may surrender, and the property will be put up for auction burdened with -improvement*, the proceeds of the sale'to he paid into lhe.-ln.nd for settlements account, into which account also go all moneys arising from, the'reduction of the capital.' In order to keep the revenue intact the land for settlements funds will pay interest upon tho capital sums to the consolidated revenue, if the land belongs to that account, or to llio national endowment fund, if tho land affected is an endowment. Provision is made for paying off in simm of not less.than £20 up to 90 per cent, of tho capital cost, in which case the rent will abate proportionately. Clause 10 of tho bill gives power to tho Governor to draw up regulations, under • which i>eoplo in cities who desire to make homes for themselves in tho country may make a. commencement.

l'olloirmg on, wo eomc to provisions dealing with the limitations of private, estates in land. Shortly Elated, they aro those: — Within 12 months the Valuer-general is to value ihe properties of £50,000 and over unimproved value. They are thou placed on a list called llio "Excess Estate Provisional : List," and gazetted. The right of appeal to the Assessment Court is provided to owners. After appeal,. and when the list has been ]settled, it is called "The Excess Estate Provisional Roll." The provisional roll, when gazetted, is final and conclusive... On fbe expiration of 10 years the Vainer-general compiles and gazettes a. list called "The Excess Estate Reduction Lisi," consisting l of those who, of the former list, at that time, still own £50,000 •worth of unimproved value. This list is gazetted and registered aguinst the titlo of the lands. Whilst such registration continues no transaction rail he put- through the registry. This list is subject to appeal, and, after nppoa.l is fixed and registered, the former regis! ration becomes csmcoHod. The provision for reduction to £50,000 is as follows:—Tho. Minister is empowered to soil Ihe excess dud give a conveyance to the purchaser. The purchase, money derived from tho sale is used to pay the' costs of the sale, the cost of survey, and tho cost of reading, and the balance' is to be paid to tho Public Trustee- to tho credit of tho owner.

In connection with al! transfers of land the transferee must make a declaration that ho is not tho owner of lahd which, added to what he proposes to purchase, .will exceed 1000 acres of first-class land, 5000 of second-class, or 10,000 of third-class. Tho Land Board will, on lining required to do 60 by the owner, classify tho lands of any owner.

Finally, provisieii is made for regulations doaliiicr with a .number of subjects which crop up in connection with the measure.