SOLDIER SETTLERS ACT.

Star (Christchurch), Issue 16635, 18 January 1922, Page 11

SOLDIER SETTLERS ACT.

THE PROVISIONS. Orn Co*Ai!srostfT>*»T.3 WULJjINGTON, Janosry 17, The Discharged Soldiers Settlement Aofc Amendment Bill In charge of Hon I'. TT. Chribrie, was read a first time to-day. It enables land purchased under this statute to be disposed of by way ef safe or renewable lease for a 33 ye«r term, with perpetual right of renewal for simila- periods. Kent is not to bo less than 5 per rout on tho capital value, less cost of improvements it» races of renewal. Power is also given to the Crown to acquire leasehold interests and transfer them on terms or for cash payment. This provision applies to Crown lands administered by land board*, or io private leaseholds. Where sale is on the deferred system payments shall extend over 3fty years, interest on the unpaid balance being 5 per cent. Power is given land boards, with the Minister’s approval, to dispose of a freehold estate by public auction, tender or private contract. Pending j-iermanont disposal soldiers' settlement lands mav be temporarily lease to discharged soldiers or other persona. Purchaser* of land under the prim cip«l Act may surrender their license pending completion of purchase and secure a renewable lease. The Minister is given power to postpone the duo date of instalments of principal and interest of discharged soldiers’ Betti ement mortgages. which will be extended l\v the period of postponement, though not ex ceding three years. Provision is made for extension of tho Discharged Soldiers Settlement Act, upon approval of the Govemor-in-Council, to apply to any person who while domiciled in New Zealand has served in his Majesty’s forces in any wax other than the war with Germany, j