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Provision as to purchase of leasehold interests.
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4. —(1.) If the Commissioners of Woods in exercise of the powers conferred by the Crown Lands Act, 1829, purchase any leasehold interest in any Crown land under their management, any purchase money paid therefor out of the capital money of the land revenues of the Crown shall be repaid out of the income of the land revenues of the Crown by such equal annual instalments as will replace the said capital money without interest within the period of forty years from the date when the purchase takes effect, or within the unexpired period of the term for which the lease was granted, whichever period is shorter.
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(2.) The Commissioners of Woods may also purchase any such leasehold interest in consideration wholly or partly of an annuity for a period not exceeding forty years or the unexpired term for which the lease was granted, whichever period is shorter, and any person having power to sell any such interest, may, unless expressly prohibited by the terms of any settlement, sell the same for such consideration as aforesaid.
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