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Public Works.

A.—sc.

to which he may be declared entitled under any award, or which has been agreed to be paid to him as aforesaid. 80. Until any compensation deposited in the Public Trust Office under this Act is applied as provided by the last preceding section ' 5 hereof, the Public Trustee shall invest the same upon investments upon which any moneys in the Public Trust Office may by law be invested, and shall pay the annual proceeds thereof to the party for the time being entitled to the rents and profits of the lands in respect of which such compensation was awarded. 10 81. (1.) If the land in respect of which compensation is awarded i is subject to a mortgage, such compensation, or so much thereof as ' is required for the purpose, shall, upon the application of the mortgagee, be paid in discharge of the mortgage debt, or of part thereof, so far as the compensation will go ; and if such land is a part of lands subject 15 to a mortgage debt, and the mortgagee requires a part of such debt to be discharged, the Court shall determine what part of the compensation shall be paid in discharge of part of the mortgage debt, so that the remaining part of the mortgaged lands shall constitute as good security as theretofore for the part of the mortgage debt remaining undischarged. 20 (2.) The words " mortgage debt " in this section shall include the interest payable on such mortgage up to six months beyond the day on which notice was received by the mortgagee of the lands affected being taken under this Act. 82. (I.) If the said land is subject to any rent-charge, the Court shall 25 determine what part of such compensation shall be paid to the party entitled to such rent-charge in redemption thereof; and if the said land is part of land subject to any rent-charge, the Court shall determine what part of such rent-charge shall be redeemed and what part of such compensation shall be paid in the redemption thereof, so that the remain--30 ing part of the lands subject to such rent-charge shall be as good security as theretofore for the part of the rent-charge remaining unredeemed. (2.) The expression " rent-charge " includes " annuity." 83. If the said land is part of land in respect of which any rent is payable, the Court shall determine what part of such rent shall cease 35 to be payable, so that the remaining rent payable shall bear the same proportion to the whole rent as the value of the land in respect of which compensation is awarded bears to the value of the whole land. Payment and other Satisfaction of Compensation and Purchase-money. 84. In any case where the amount of compensation or purchase--40 money to be paid to any person has been or may hereafter be determined by agreement between such person and the Minister, the Minister may agree to grant to such person, his heirs, executors, administrators, assigns, and successors, any easement, right of way, right of occupation, or any other right, privilege, or concession in, upon, over, or under any 15 land taken or reserved for the purpose of any public work, in satisfaction or part satisfaction or mitigation of the compensation claimed by such person : Provided that no such agreement shall be of any validity at law or in equity until notice of the assent of the Minister thereto has 50 been duly gazetted.

Public Trustee may invest compensa-tion-money. 1894, No. 42, sec. 79

Case of mortgaged lands taken. Ibid, sec. 80

Case of lands subject to rent-charge. Ibid, sec. 81

Case of lands on which rent is payable. Ibid, sec. 82

Minister may agree to grant easements in lieu of compensation or purchase money. Ibid, sec. 83