Section 16

The sum (if any) reserved to the Crown or the State as rent in a grant issued under this Part is payable by the grantee, the grantee’s executors, administrators or assigns annually from the date of the grant up to 31 December 1914, the rent for each year being payable on 1 January in that year, and subsequently until the revision mentioned in this section.

As soon as may be after 1 January 1915 and thereafter as soon as may be at the end of every 30 years, the Minister may revise the rent so reserved and fix the sum which is payable for the then current term of 30 years, or the remainder of the term, but so that the rent payable in any such term of 30 years does not exceed by more than 50% the rent which was payable in the immediately preceding term.

In making such revision, improvements made by the landholder or the landholder’s predecessors in title must not be taken into account.

In making such revision, the Minister need not consider each grant separately, but may fix certain areas, and make a general revision in respect of all lands situated within those areas.

The Minister may make rules for the purpose of carrying out the provisions of this section.

All such rules must be presented to Parliament as soon as possible after publication in the Gazette.

If a resolution is passed pursuant to a motion (notice of which has been given for a sitting day not later than the first available sitting day of Parliament next after the expiry of one month from the date when the rules made under this section are presented to Parliament) annulling the rules or any part of the rules as from a specified date, the rules or such part thereof (as the case may be) become void as from that date but without affecting the validity of anything previously done under the rules or part of the rules or to the making of new rules.[9