WELLINGTON.

Thames Star, Volume XIV, Issue 4551, 6 August 1883, Page 2

WELLINGTON.

This day

The following regulations are about to be applied to the leasing of land under the deferred payment system:—Where a lease offered for sale at a revised upset rental is not disposed of, or the purchaser of such lease fails in any conditions required of him hefore entering into occupation, the out-going tenant may continue in possession, from year to year, of the land comprised in the original lease, at the original rental thereof, until the Board succeeds in finding a purchaser for the lease at the revised upset rental; in any case, as aforesaid, where a lease offered at the revised upset rental is not disposed of, the Board may, at any time, reduce such upset rental as it shall think fit. Where any lease under this Act has been offered for sale by public competition and is not disposed of, the Board may at aoy time, from time to time, offer the same again for competition, or the Board may, after not less than thirty days' public notice has been given thereof, declare such lease to be open for sale on application at the upset price. Where any lease issued for the occupation of pastoral land under any Act other than this Act, has baea offered for sale by public competition, and is not disposed of, the Board may, at any time, offer the same for competition, on the same terms as the last; was offered in the

first instance; it may declare such lease open for sale on application at the upset price, after thirty days' public notice thereof has been given. All selectors of land on deferred payment, who have acquired the freehold of their respective selections under the relief afforded to them iti accordance with the recommendation of the Waste Lands Committee of the Houpo of Kepresentatives in report dated the 30th day of June, 1883, shall be deemed to have acquired such freehold under the deferred payment system, and shall be precluded from making any other selections of land under the said system. -....;■

. The Fire, and Marine Insurance Company's Bill "provides that every foreign and local company within the colony shall have a paid up capital of not less than £500,000, and securities to the unimpaired market value of £10,000 on real estate in New Zealand, to be lodged with the Public Trustee, who shall hold the same in trust for the policy holders.

[Peb Phbss Association.]