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Mining Leases.
Power to grant mining leases for 63 years.
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4. The powers of leasing given by an Act of the session holden in the tenth year of His Majesty King George the Fourth, chapter fifty, shall extend to enable the Commissioners for the time being of Her Majesty’s Woods, Forests, and Land Revenues, or either of them, with the consent of the Commissioners for the time being of Her Majesty’s Treasury, to grant or enter into any agreement to grant leases of any mines, minerals, or other metallic or non-metallic substances or substrata obtained by mining, quarrying, or excavating, for any term or terms of years not exceeding sixty-three years from the time of the granting of the lease or from the date of the agreement, as the case may be, or for any term or terms of years which with any term of years in existence at the time of granting the lease or the date of the agreement will together make up a term not exceeding sixty-three years from such time or date.
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Every such lease or agreement may be made upon such conditions, and may contain such reservations by way of, or wholly or partially in lieu of rent or other consideration, and such covenants and stipulations, as the Commissioners of Her Majesty’s Woods, Forests, and Land Revenues, or either of them, with the consent of the Commissioners of Her Majesty’s Treasury, may approve: Provided always, that nothing in this section contained shall apply to any mine of gold or silver.
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