Modifications etc. (not altering text)
C1Part 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
(1)For the development, improvement, or general benefit of the settled land, or any part thereof, a tenant for life may make a grant in fee simple, or absolutely, or a lease for any term of years absolute, for a nominal price or rent, or for less than the best price or rent that can reasonably be obtained, or gratuitously, of any part of the settled land, with or without any easement, right or privilege over or in relation to the settled land or any part thereof, for all or any one or more of the following purposes, namely:—
(i)For the site, or the extension of any existing site, of a place of religious worship, residence for a minister of religion, school house, town hall, market house, public library, public baths, museum, hospital, infirmary, or other public building, literary or scientific institution, drill hall, working-men’s club, parish room, reading room or village institute, with or without in any case any yard, garden, or other ground to be held with any such building; or
(ii)For the construction, enlargement, or improvement of any railway, canal, road (public or private), dock, sea-wall, embankment, drain, watercourse, or reservoir; or
(iii)For any other public or charitable purpose in connexion with the settled land, or any part thereof, or tending to the benefit of the persons residing, or for whom dwellings may be erected, on the settled land, or any part thereof.
Not more than one acre shall in any particular case be conveyed for any purpose mentioned in paragraphs (i) and (iii) of this subsection, nor more than five acres for any purpose mentioned in paragraph (ii) of this subsection, unless the full consideration be paid or reserved in respect of the excess.
(2)All money, not being rent, received on the exercise of any power conferred by this section shall be capital money arising under this Act.
Modifications etc. (not altering text)
C2S. 55 extended by National Trust Act 1937 (c. lvii), s. 6(2)