(7) Every debenture shall bear date on such day as the Governor Date of debentures in Council may direct and shall bear interest payable at such times aud and payment of at such places as may be specified in such debentures.

(8) The Treasurer of Victoria may under such regulations, at Sale of debentures. such times and places, in such sums, on such conditions, at such prices,

and in such manner as the Governor in Council may direct, offer or

cause to be offered for sale all or any debentures.

(9) Where any debenture is defaced by accident the said Treasurer Defaced debentures may cancel the same and cause a new debenture to be made in the may be exchanged. Treasury in lieu thereof and such cancelled debenture shall be filed in the Treasury; and such new debenture shall have the like currency and be in all respects subject to the same rules methods and continuance and bear the same number date and principal sum and rate of interest as such cancelled debenture.

(10) Upon proof being made before a Judge of the Supreme Court Provision for by affidavit of any credible person that any debenture held by him the debentures lost &c. number and sum whereof shall be specified by him has been lost or accidentally burnt or otherwise destroyed before the same shall have been paid off, and upon such Judge certifying that he is satisfied with such proof, the Treasurer may cause a new debenture to be made in the Treasury bearing the same number date principal sum and rate of interest as the debenture so lost or destroyed and to be delivered to such person upon his giving sufficient security to the Treasurer to indemnify the Treasury against any double payment if the missing debenture at any time thereafter be presented for payment.

discharged
debentures.

(11) All debentures which are paid off and discharged and all Cancelling of defaced debentures filed as aforesaid shall be cancelled by the Treasurer, and after being so cancelled shall be transmitted by him to the Auditor-General, who after having audited and allowed the accounts thereof shall cause all such debentures to be burnt or otherwise destroyed and shall furnish the Treasurer with a certificate particularizing the debentures so burnt or destroyed.

Application of Proceeds.

6. The proceeds of the sale of the said stock or of the said Proceeds. debentures shall be issued and applied only for and towards the several

purposes mentioned in the Schedule to this Act.

Loans Redemption Fund.

7. From and after the first day of July One thousand nine hundred and six there shall within each and every financial year be paid out of the Consolidated Revenue which is hereby appropriated for the purpose a sum equal to one per centum of the amount borrowed under this Act and every such sum shall be placed to the credit of the fund kept in the Treasury called the Victorian Loans Redemption Fund and such a sum shall be so paid and placed annually until the amount so borrowed is paid off or redeemed.

SCHEDULE.

Schedule.

Section 6.

SCHEDULE.

Item 1. To redeem or pay such portion of the Treasury Bonds issued under
Act No. 1847 as may remain unconverted in London on the 1st
January, 1906, and to pay expenses in connexion therewith ..

£1,747,500

£252,500

MELBOURNE:

By Authority: ROBT. S. BRAIN, Government Printer.

£2,000,000

No. 1991.

[5th December, 1905.]

E it enacted by the King's Most Excellent Majesty by and with the advice and consent of the Legislative Council and the Legislative Assembly of Victoria in this present Parliament assembled and by the authority of the same as follows (that is to say) :

citation.

1. This Act may be cited as the Land Act 1905, and this Short title and Act and the Land Act 1901 (hereinafter called the Principal Act) No. 1749, 1831, and any Acts amending the same may be cited together as the Land Acts.

Swamp or Reclaimed Lands.

2. So far as regards any lease or perpetual lease or conditional purchase lease or contract of sale of any swamp or reclaimed land, where the Minister is of opinion that expenditure for substantial and permanent improvements to the extent mentioned in the condition set

out

1957.

Power to cancel or modify expenditure

for improvements

Interpretation of cultivation.

Addition to covenant

out in paragraph (a) of section one hundred and thirty-three of the Principal Act would not be advantageous or profitable the said condi

tion may

(a) in any lease or contract issued or made after the commencement of this Act be either omitted or modified as the Governor in Council may think fit; or

(b) in any lease or contract issued or made at any time before such commencement such condition may be either cancelled or modified by the Governor in Council and the said lease or contract shall notwithstanding anything therein contained be read and construed accordingly.

Village Communities.

3. In section three hundred and sixteen of the Principal Act in the interpretation of the word "Cultivation," paragraph (1) relating to fencing is hereby repealed.

4. In section three hundred and twenty-two of the Principal Act for improvements. at the end of paragraph (5) there shall be inserted the following words:"and (e) within one year from the date of the lease shall fence the land with timber or other durable materials not being a brush fence."

Retrospective

operation of

8. 34 of No. 1957, and s. 10 of No. 1311.

Power to add interest to price of land.

No. 1831 s. 2.

Amendment of

section 44 (6) of No. 1749.

Amendment of

8. 41 of No. 1957.

5. The amendment made in section three hundred and twentytwo of the Principal Act by section thirty-four of the Land Act 1904 shall be deemed and taken to have come into operation at the same time as the Principal Act; and a like amendment in section ten of the Settlement on Lands Act 1893 shall as from the passing thereof be deemed to have been made in the said section ten.

for

General.

6. Notwithstanding anything contained in the Land Acts, after the value of any land selected or taken up under a licence or lease containing conditions payment of purchase money by means of instalments extending over any term has been determined the Minister may direct that a condition be inserted in the licence or lease providing that until the final instalment of purchase money is paid to the Crown, interest at the rate of Four pounds ten shillings per centum per annum shall be charged to and paid by the licensees or lessees on such portion of the licence fees rent or. purchase money as for the time being remains unpaid. This section shall only apply to land classified at a higher value than Three pounds per acre.

7. In section forty-four sub-section (6) of the Land Act 1901 after the word "timber" there shall be inserted the words "trees except wattle trees."

8. In section forty-one of the Land Act 1904 for the words "one year" there shall be substituted the words "two years." Bee

Bee Farms.

farm site licences.

9. The licence of every site for a bee farm at any time granted by Conditions of bee the Minister in pursuance of section one hundred and forty-seven of the Principal Act as amended by section sixteen of the Land Act 1904 shall be subject to the undermentioned provisions namely

(a) No person company corporation or firm shall hold more
than three bee farm licences, or a licence or licences for
more than ten acres in the whole;

(b) Every licence shall be issued for a period not exceeding one
year, but during a period of seven years from the date of
issue may be renewed by the Minister if he thinks fit
from year to year by an indorsement on the back of the
licence;

(c) The applicant for a licence or renewal of a licence shall pay
to the Minister in advance before the issue or renewal
thereof such annual licence fee as the Minister may fix;
(d) A licensee may at his own risk erect any buildings or
fences or make any improvements on his bee farm site,
but shall remove the same without any right to com-
pensation whenever so directed by the Minister in writing;
(e) No fence shall be erected on any bee farm site except on the
boundary thereof nor unless the boundaries thereof are
clearly defined by a survey approved by the Surveyor-
General:

(f) No dog shall be kept or be allowed to remain on any bee
farm site;

(g) The Minister may at any time cancel any bee farm licence
in the event of it being proved to his satisfaction that
the licensee has committed or permitted in connexion
with the bee farm site a contravention of any of the pro-
visions of this Act or of the terms or conditions of the
licence;

() No licensee shall permit the careless use of fire on or
near his bee farm site; and

(i) No bee farm site shall be transferred or sublet by the licensee
without the previous consent in writing of the Minister.

10. Where a licence is issued for a bee farm site forming part of a pastoral leasehold or of a grazing area leasehold or of any land held under a grazing licence, possession of such site may if the Governor in Council thinks fit but not otherwise be at any time resumed by His Majesty on the licensee of the proposed site paying to the Minister all money's payable by the Crown in respect of such resumption.

11. (1) Notwithstanding anything contained in any grazing area lease or pastoral lease or grazing licence it shall not be lawful for the holder thereof unless he is also the holder of a bee farm licence to keep more than ten hives of bees on his holding.

(2) For

As to resumption of
certain lands over
licence also
granted.
S. 27 (13).

which bee farm

S. 44 (10).

Limit on number of
hives to be kept by
grazing area
lessee, &c.