In the completion of any contract of sale of land made after the commencement of this Act, and subject to any stipulation to the contrary in the contract, thirty years shall be substituted as the period of commencement of title which a purchaser may require in place of forty years, the present period of such commencement; nevertheless earlier title than thirty years may be required in cases similar to those in which earlier title than forty years may now be required.

Section one of the M1Vendor and Purchaser Act, 1874, is hereby repealed.