Settled Land Act 1925 (c. 18)

Part II E+W Powers of a Tenant for Life

Modifications etc. (not altering text)

C1 Part II saved by Trafalgar Estates Act 1947 (c. 34), s. 2(3) and Leasehold Reform Act 1967 (c. 88), s. 6(4); extended by Forestry Act 1967 (c. 10), s. 5(4), Sch. 2 para. 1

Provisions as to building, mining and forestry leases E+W

45 Regulations respecting mining leases. E+W

(1) In a mining lease—

(i) the rent may be made to be ascertainable by or to vary according to the acreage worked, or by or according to the quantities of any mineral or substance gotten, made merchantable, converted, carried away, or disposed of, in or from the settled land, or any other land, or by or according to any facilities given in that behalf; and

(ii) the rent may also be made to vary according to the price of the minerals or substances gotten, or any of them, and such price may be the saleable value, or the price or value appearing in any trade or market or other price list or return from time to time, or may be the marketable value as ascertained in any manner prescribed by the lease (including a reference to arbitration), or may be an average of any such prices or values taken during a specified period; and

(iii) a fixed or minimum rent may be made payable, with or without power for the lessees, in case the rent, according to acreage or quantity or otherwise, in any specified period does not produce an amount equal to the fixed or minimum rent, to make up the deficiency in any subsequent specified period, free of rent other than the fixed or minimum rent.

(2) A lease may be made partly in consideration of the lessee having executed, or agreeing to execute, on the land leased an improvement authorised by this Act, for or in connexion with mining purposes.