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premium.
If this is, in fact, the case, then
the interest of the assignee is a valuable one,
and although the Crown would be within their
legal rights in determining the assignee's
interests and granting fresh leases on whatever
terms they thought fit, it seems that such a
course would not be equitable in the case of
assignees who were not in default. The premium
is paid on the footing that a rent, less than the
annual value of the land, will continue to be
payable for a period of 999 years. It is clear
therefore that, if that period is reduced or the
rent increased, the Crown make a clear profit, and
the innocent assignees would have a real grievance.
In the circumstances, I am inclined to think
that, at least so far as the practice stated above
was adhered to, the Governor's proposal might be
approved.
X. Polute Wron
19.1.32.
I discussed this with IT Robert's Wray
MAX 2
8
? We can affrove beesq
• leases of the balduce of 999 years to assignees who have been assigned the whole of the remaining form granted by the Brawon & who have not been in default
ameeds
19/1/32
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