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New Zealand Spectator and Cook's Strait Guardian, Volume VII, Issue 572, 25 January 1851, Page 4

respects as the whole Body of Persons thereby appointed. VIT. And whereas in the said recited Act of the Tenth and Eleventh of Victoria R was enacted, that upon such Reversion to Her Majesty of the Lands belonging to the said Company as aforesaid, amongst other things, there should be charged upon and paid to the New Zealand Company out of the Proceeds of all future Sales of the Demesne Lands of the Crown in New Zealand, after certain Deductions, a Sum of Money, with Interest thereon, as therein mentioned; now be it enacted, That, notwithstanding anything in the said Act contained, the re. maining Five Sixth Parts of the whole Pro. duce of such Sales and Licences as aforesaid shall be retained by the said Association, and no Part thereof shall be available to the | Purposes in the said Act mentioned, but the j whole thereof shall be subject to the Provi. , sions contained in the said Agreement ot ; the First Day of December, One thousand ! eight hundred and forty-nine, and in the i Terms of Purchase now existing, or in such : Terms of Purchase as may at any time be | made as herein-after provided. VIII. And be it enacted, That if the said f Association should at any Time during the | said Term of Ten Years, or such extended I Term as aforesaid, omit or neglect to observe, perform any of the Condi- j tions aforesaid, One of Her Majesty’s Principal Secretaries of State may, if he I shall think fit, by Writing under his | Hand declare that the Power of Disposi. | tion over the Lands in the said Schedule | hereby given to them has determined ; but • no Purchaser or Licensee shall be bound to . inquire as to the Fulfilment of any of the [ said Conditions, or the Regularity of any I Sale made or Licence granted by the said [ Association, and all Sales made and Licences , granted by the said Association shall, so far ; as the Safety of Purchasers or Licensees is | concerned, be deemed to be within the I aforesaid Power. IX. And be it enacted, That during the ! said Term of Ten Yeais, or such extended Term as aforesaid, the said Association shall ■ have power and authority from Time to Time to make and issue Terms of Purchase and Licence of Lands within the said Settlement, and at any Time to alter, vary, or modify the same, or to re-make and re-issue such Terms: Provided always, that any such Terms of Purchase and Licence shall not be repugnant to the Provisions of this Act,and provided also, that the same be approved by One of Her Majesty’s Principal Secretaries of State. X. And be it enacted, That One of Her Majesty’s Principal Secretaries of State may, on the application of the said Association made under their Common Seal at any Time during the said Ten Years, by Writing . under his hand as aforesaid, extend the said Term of Ten Years for such further Time as , he in his Discretion may think fit. XI. And be it enacted, That nothin? herein contained shall prejudice the Rights of the Said First Colonists under the Terms of Purchase first herein-before mentioned, or of any Person or Persons entitled or claiming to be entitled to any of the Lands r described in the said Schedule by virtue of ' any Deed or Contract made or entered into previously to the passing of this Act. XII. And be it enacted, That at the Expiration or sooner Determination of the said Term of Ten Years, or such extended Term as aforesaid, all Lands (if any) comprised in ; the said Schedule hereto, then remaining undisposed of by the said Association, shall be at the disposal of Her Majesty in the same Manner as other Demesne Lands of the Crown in New Zealand. XIII. And be it enacted, That this Act may be amended or repealed by any Act to be passed in this Session of Parliament. THE SCHEDULE TO WHICH THIS ACT REFERSAll that Tract of waste and unappropriated Land, \ formerly in the Possession of the New Zealand Company, situated in the Middle Island of Neff t Zealand, being bounded by the Snowy Range of ; Hills from Double Corner to the River Ashburton,, by the River Ashburton from the Snowy Hid 3lo | the Sea, and by the Sea from the Mouth of the i River Ashburton to Double Corner, and estimated to contain 2,500,000 Acres, more or less, with tlieg Exception of certain Buildings, and the Land | marked out as appurtenant thereto, situate^ 3 j Banks’s Peninsula, and purchased by the said k Zealand Company from the Nanto Bordelase pany, and with the Exception also of certain petty acquired by Purchase and Exchange with De Belligny, such Lands so excepted being re '| served to Her Majesty, Her Heirs and SuccessorB'|