Excerpt from Crown Lands: Conditions of AllotmentCrown lands in South Australia are subdivided into such sized blocks as may be recommended by the Land Board and approved by the Commissioner of Crown Lands. The land is then gazetted open toMoreExcerpt from Crown Lands: Conditions of AllotmentCrown lands in South Australia are subdivided into such sized blocks as may be recommended by the Land Board and approved by the Commissioner of Crown Lands.
The land is then gazetted open to application at purchase-money and rent fixed by the Board and approved by the Commissioner- the rent under the present law is, as a rule, fixed at 4 per cent, on the purchase value of the land.Under Act 1109 of 1912 the holder of land under agreement with covenant to purchase is not required to pay any interest for the first four years of the term of the agreement, which will be for 36 years.
During the fifth and sixth years interest at 2 per cent, per annum on the purchase-money fixed will be payable, and from the commencement of the seventh year the purchase-money and interest (at 4 per cent, per annum) will be payable by 60 half-yearly instalments at the rate of 2 16s. 5d. for every 100 of the purchase-money. The holder of land under agreement has the right to complete purchase at any time after the expiration of six years of the term, provided he has complied with all the covenants of the agreement, and has expended a sum equal to 5s.
per acre in effecting improvements on the block to the satisfaction of the Commissioner.Under the same Act the rent under perpetual lease is fixed at 4 per cent, per annum on the value placed on the land by the Board. The lessee, however, is not called upon to pay any rent for the first four years of the lease. During the fifth and sixth years he will pay 2 per cent, interest on the purchase value of the block, and from the beginning of the seventh year the full annual rent, at the rate of 4 per cent, on the purchase value, will be payable.The Act of 1912 will apply to newly-opened lands and such other lands as the Commissioner may direct, the object being to give assistance to settlers undergoing pioneering difficulties.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books.
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