Corporate
Land.

Power to dispose of land

of Treasury.

than the land,-of land proper for gardens, yards, curtilages or other appurtenances to be used with any other house or other building erected or to be erected on any such land belonging either to the corporation or to any other proprietor, or proper for any other purpose calculated to afford convenience or accommodation to the occupiers of any such house or building.

[The effect of sections 94, 95, and 96 of the Act of 1835, and section 2 of 6 & 7 Will. 4, c. 104 (1836), is preserved in this clause. Section 15* of 8 & 9 Vict. c. 18 (1845), also bears upon the prohibition contained in subsection 2].

109.-The council may, with the approval of the Treasury with approval dispose of any corporate land either by way of absolute sale, or by way of exchange, mortgage, charge, demise, lease, or otherwise, in such manner and on such terms and conditions as the Treasury approve.

Council may renew leases, &c.

[The effect of section 94 of the Act of 1835, and section 2 of 6 & 7 Will. 4, c. 104, is preserved in this clause].

110. In the following cases

(a.) Where a body corporate of a borough was on the fifth
of June one thousand eight hundred and thirty-five
bound or engaged by any covenant or agreement, ex-
pressed or implied, or was enjoined by any deed, will, or
other document, or was sanctioned or warranted by
ancient usage or by custom or practice, to make any
renewal of any lease for years, or for life or lives, or
for years determinable with any life or lives at any fixed
or determinate or known or accustomed period, or after
the lapse of any number of years, or on the dropping of
any life or lives, and years determinable after the lapse
of any number of years, at a fine certain, or under any
special or specific terms or conditions ;
(b.) Where a body corporate of a borough theretofore
ordinarily made renewal of any lease for years, or for
life or lives, or for years determinable with any life or
lives at any fixed or
determinate or known or accustomed

This section is as follows:-"Nothing in this or the special Act contained (any subsequent Act authorizing the leasing of lands) shall enable any municipal corporation to sell for the purposes of the special Act, without the approbation of the Commissioners of Her Majesty's Treasury (now the Local Government Board) of the United Kingdom of Great Britain and Ireland, or any three of them, any lands which they could not have sold without such approbation before the passing of the special Act other than such lands as the company are by the powers of this or the special Act empowered to purchase or take compulsorily."

Land.

period, or after the lapse of any number of years, or on Corporate the dropping of any life or lives, on the payment of an arbitrary fine,

Then, notwithstanding anything in this Act, the council of the borough may renew the lease for such term or number of years, either absolutely or determinable with any life or lives, or for such life or lives, and at such rent, and on the payment of such fine or premium, either certain or arbitrary, and with or without any covenant for the future renewal thereof, as the council could or might have done if this Act had not been passed.

[The effect of section 95 of the Act of 1835 is preserved in this clause. The word "renewal" does not mean a mere custom to let on lease at different rents. Although the terms may be slightly varied there must be such a similarity as to shew that the same lease has been renewed. The case of the Attorney-General v. Corporation of Great Yarmouth (21 Beav. 625) is one in point].

Working Men's Dwellings.

Working

Men's

Dwellings.

working men's

111.—(1.) If a municipal corporation determines to convert Sites for any corporate land into sites for working men's dwellings, and dwellings obtains the approval of the Treasury for so doing, the corporation may, for that purpose, make grants or leases for terms of nine hundred and ninety-nine years, or any shorter term, of any parts of the corporate land.

(2.) The corporation may make on the land any roads, drains, walls, fences, or other works requisite for converting the same into building land, at an expense not exceeding such sum as the Treasury approve.

(3.) The corporation may insert in any grant or lease of any part of the land (in this section referred to as the site) provisions binding the grantee or lessee to build thereon as in the grant or lease prescribed, and to maintain and repair the building, and prohibiting the division of the site or building, and any addition to or alteration of the character of the building, without the consent of the corporation, and for the re-vesting of the site in the corporation, or its re-entry thereon, on breach of any provision in the grant or lease.

(4.) Every such provision shall be valid in law to all intents, and binding on the parties.

(5.) All costs and expenses incurred or authorized by a corporation in carrying into execution or otherwise in pursuance of this section, shall be paid out of the borough fund and borough

Working
Men's
Dwellings.

rate, or by money borrowed by the corporation under this Part.*

(6.) In this section the term working men's dwellings means buildings suitable for the habitation of persons employed in manual labour and their families; but the use of part of a building for purposes of retail trade or other purposes, approved by the council, shall not prevent the building from being deemed a dwelling.

[The effect of c. 59 of 37 & 38 Vict. (Working Men's Dwellings Act, 1874) is preserved in this clause].

Repayment of
Loans.

Power for Treasury to impose conditions as to repayment of money borrowed.

Provisions as to sinking fund.

Repayment of Loans.

112.-(1.) Where the Treasury approve a mortgage or charge under this Part they may, as a condition of their approval, require that the money borrowed on the security of the mortgage or charge be repaid, with all interest thereon, in thirty years, or any less period, and either by instalments or by means of a sinking fund, or both.

(2.) In that case the sums required for providing for the repayment of the principal and interest of the money borrowed shall be by virtue of this Act a charge on all or any of the following securities, namely, the land comprised in the mortgage (without prejudice to the security thereby created), or any other corporate land, or the borough fund,† or the borough or other rates legally applicable to payment of the money borrowed or of the expenses which the money is borrowed to defray, as the Treasury direct.

[The effect of sections 1 and 8 of 23 & 24 Vict. c. 16 (1860) is preserved in this clause].

113.-(1.) Where money borrowed under this Part is directed to be repaid by means of a sinking fund, the council shall, out of the rents and profits of the land on which, or out of the borough fund or rates on which, the sums required for the sinking fund are charged under this Act, invest such sums, at such times, and in such Government annuities as the Treasury direct, and shall also from time to time invest in like manner all dividends of those annuities.

* See page 104 ante as to Acts under which all borrowing powers are authorized. † See section 106 (page 103 ante).

(2.) The annuities shall, in the books of the Bank of Repayment of England, be placed to the account of the corporation, and Loans.

in the matter of this Act or of any previous Act under which

the investment is made.

(3.) The dividends of the annuities shall be received and invested by such persons as the council by power of attorney under the corporate seal from time to time appoint.

(4.) No transfer shall be made of the annuities, or of any part thereof, without the consent in writing of the Treasury addressed to the chief accountant of the Bank of England.

(5.) The direction in writing of the council by power of attorney under the corporate seal, with the consent in writing of the Treasury, shall be sufficient authority to the bank for permitting any such transfer.

[The effect of section 2 of 23 & 24 Vict. c. 16 (1860) is preserved in this clause].

Purchase or Compensation Money.

Purchase or
Compensation

replacing

compensation

to treasurer.

114.-(1.) Where purchase money or compensation has been Money. paid to the Bank of England under an Act of Parliament in Provision for respect of land or any interest therein purchased or taken from purchase or a municipal corporation, or in respect of permanent damage to money paid land of a municipal corporation, and the Treasury approve of the payment of the money, or compensation, or of any money to arise from the sale of any Government securities in which the same has been invested to the corporation or the treasurer, the Treasury may, as a condition of their approval, require provision to be made for raising and for investing in Government annuities a sum equivalent to the amount of money so paid.

(2.) The foregoing provisions of this Part applicable in the case of a sinking fund, as regards the mode of investing, payment of dividends, and transfer of annuities, shall be applicable in the case of investments under this section.

(3.) The Treasury shall, when it appears to them that an amount of annuities equivalent to the amount so paid has been raised by investment, direct that the accumulation shall cease; and the annuities and the dividends thereof shall thenceforth be applicable as if the annuities had arisen from investment under the Act of Parliament under which the purchase money or compensation became payable.

(4.) But this section shall not apply to money payable to a municipal corporation when provision for the application of the

Purchase or

Money.

money, or of the price or compensation from which the money Compensation is derived, is contained in any local Act of Parliament* relating thereto, and the money is to be paid to the corporation to be applied in conformity with that provision.

Investment

of proceeds of sale or exchange

[The effect of section 3 of 23 & 24 Vict. c. 16 (1860) is preserved in this clause].

115.-(1.) Where the Treasury approve of the sale or exchange of any corporate land or of any interest therein, authorized by their approval may be subject to such conditions as they think fit in relation to the investment for the benefit of the corporation of the money arising from the sale or exchange.

Treasury.

Power for Treasury to authorize application of certain investments for benefit of borough.

(2.) If the Treasury direct the money to be invested in Government annuities, the foregoing provisions of this Part respecting the mode of investing, payment of dividends, and transfer of annuities shall be applicable, but not so as to make any accumulation necessary.

(3.) If the Treasury consent to the application of the money or of any part thereof for the benefit of the inhabitants of the borough, they may, as a condition of their consent, require the like provision to be made as they are authorized to require in the case of their approval of payment to a municipal corpora

tion or the treasurer.

[The effect of section 4 of 23 & 24 Vict. c. 16 (1860) is preserved in this clause].

116. The Treasury may at any time approve of the application of any annuities arising from investments under either of the two last preceding sections, or of the money to arise from the sale thereof, or any part thereof respectively, for the benefit of the inhabitants of the borough; and, as a condition of their approval, may require the like provision to be made as they are authorized to require in the case of their approval of payment to a municipal corporation or the treasurer, and so from time to time, and the provisions of this Part shall be applicable accordingly; but it shall not be imperative on the Treasury to impose the condition aforesaid where by reason of the application of the annuities or money to improvement of the property of the corporation or for the permanent benefit of the borough, or otherwise, under the special circumstances of the case, the

This proviso contemplates the possibility of special circumstances occasionally arising where the authority for meeting the same is to be de.ived under a special Act of Parliament. See also Re Derby Municipal Estates, L.R. 3 C.P.D. 289.