The Short Title of this Act shall be The Otago and Southland Education Reserves Leasing Act 1878.

The term Commissioners in this Act means the School Commissioners of the Provincial District of Otago appointed under The Education Reserves Act 1877, and includes the corporations known as the Boys' and Girls' High Schools Boards of Otago and Southland respectively, in one or other of which Commissioners or corporations the lands described in the Schedule hereto are vested, and also shall include any other corporation in or to which any of the aforesaid lands may hereafter be vested or granted.

The Governor may, by warrant under his hand, from time to time, direct any of the Commissioners or Corporations in whom any of the said lands are vested, to set aside so much of the said lands for settlement and lease under this Act as he shall think fit, until the end of the next session of the General Assembly, but not exceeding in the whole twenty thousand acres, and may direct the lands so set aside to be subdivided for leasing into allotments not exceeding three hundred and twenty acres each, and may thereupon, by Proclamation, declare that such lands are open for leasing under this Act.

The Governor in Council may determine the terms and conditions on which the leases of the said lands shall be sold: Provided that—

• (1) No person by himself or agent shall be permitted to lease more than one allotment:

• (2) The term of each lease shall not exceed twenty-one years:

• (3) The lands shall be put up at the upset price as rental, per acre per annum, of twenty cents:

• (4) The land-tax shall in every case be paid by the lessee of the lands:

• (5) The conditions, covenants, and stipulations of such leases shall be regulated by the Governor in Council:

• (6) No fine, premium, or foregift shall be taken on such leases.

When the Governor, by any such Proclamation, shall have declared that any of the said lands are open for settlement and lease under this Act, the pastoral license or lease in respect of the land specified in any such Proclamation shall determine and be void; and the lessee shall be entitled to all the rights for compensation in respect of the determination of such lease or license as he would have had under The Land Act 1877, in case such lands had never been reserved.