Ecclesiastical Commissioners Act 1860

XXII In estimating the Value of Mining Leases an Extension to 1884 to be allowed.

The said Ecclesiastical Commissioners or any Ecclesiastical Corporation, aggregate or sole, in carrying out the Powers of leasing Mines and Minerals vested in them, shall in the granting to the Lessees of Mines and Minerals holden of the Ecclesiastical Commissioners or any Ecclesiastical Corporation, aggregate or sole, whether for Years or for Lives, an extended Term or Estate therein, and fixing the Terms of such Grant, have regard to the Value of the Estate and Interest of the Lessees of all such Mines and Minerals under any Lease or Leases heretofore ordinarily renewable on the Payment of a Fine, and shall as a Rule, in computing such Value, estimate and include an Extension of the existing unexpired Term or Estate of the Lessees to the Eleventh Day of October One thousand eight hundred and eighty-four, at the accustomed Rate of Fine; and in the Case of such of the said Leases for Lives as, according to the Expectancy of Human Life, according to the Life Tables which are appended to the Twelth Annual Report of the Registrar General of Births, Deaths, and Marriages in England, would not determine until after the said Eleventh Day of October One thousand eight hundred and eighty-four, shall have regard to the actual Value of the Estate and Interest of the Lessees.