Crown Lands Act, 1866

Mode in which Compensation to be made good.

15. The Amount of the Compensation so determined shall be made good to the Capital of the Land Revenue of the Crown after the making of the Award of the Arbitrators or Umpire in either or both, or partly in one and partly in the other, of the following Modes, as the Commissioners of the Treasury from Time to Time direct; namely,

(1.) By the Release (within Six Months after the making of such Award) to the Land Revenue of the Crown of any Debt due therefrom to the Consolidated Fund, which Release shall be made by a Warrant of the Commissioners of the Treasury:

(2.) By the Transfer (within Six Months after the making of the said Award) to the Consolidated Fund of the Charge for any Pensions, Annuities, or other annual Payments payable out of the Land Revenue of the Crown, which shall be specified in a Warrant of the Commissioners of the Treasury, and on the issuing of such Warrant the same shall become and are hereby charged on the Consolidated Fund, and thereupon the Land Revenue of the Crown shall become and is hereby discharged therefrom (every such Warrant being inrolled in Her Majesty’s) Court of Exchequer at Westminster):

The Balance (if any) of the Amount of Compensation so determined (the Amount of which Balance shall be specified in a Warrant of the Commissioners of the Treasury) shall be charged on the Consolidated Fund, and shall be payable thereout at such Periods and in such Proportions as the Commissioners of the Treasury from Time to Time by Warrant direct, but so nevertheless that the whole of such Balance (if any) shall be paid within the Space of Ten Years after the making of the said Award.

A copy of every Warrant made in pursuance of the present Section shall be laid before both Houses of Parliament.