(1) In this Act, unless inconsistent with the context or subject-matter— building purposes includes the erecting and the improving of, and the adding to, and the repairing of buildings; and a building lease is a lease for any building purpose or purposes connected therewith; capital money arising under this Act means capital money arising under the powers and provisions of this Act or any corresponding previous enactment and receivable for the trusts and purposes of the settlement and includes securities representing capital money; S. 3(1) def. of Court substituted by No. 16/1986 s. 20(a). Court means the Supreme Court and, in relation to land or an estate or interest in land the value of which land does not exceed the jurisdictional limit of the County Court, the Supreme Court or the County Court; determinable fee means a fee determinable whether by limitation or condition; disposition and conveyance include a mortgage, lease, assent, disclaimer, release and every other assurance of property or of an interest therein by any instrument, except a will, and dispose of and convey have corresponding meanings; hereditaments means real property which on an intestacy might under the law formerly in force have devolved on an heir; income includes rents and profits; instrument does not include a statute unless the statute creates a settlement;
consideration in land or in land and money that can reasonably be obtained. (2) An exchange or partition may be made subject to any stipulations respecting title, or evidence of title, or other things. (3) On a partition an easement right or privilege of any kind may be given or taken for land or for any other easement right or privilege of any kind. (4) Settled land in shall not be given in exchange for land out of . Division 2—Leasing powers No. 3771 s. 41. 41 Power to lease for ordinary or building or mining or forestry purposes s. 41 A tenant for life may with the consent of the trustees of the settlement or order of the Court but subject to the provisions and requirements of any Act or Acts of the Parliament of Victoria dealing with or applicable to a lease of the nature proposed to be made by him, lease the settled land, or any part thereof, or any easement, right or privilege of any kind over or in relation to any land, for any purpose whatever, whether involving waste or not, for any term not exceeding— (a) in case of a building lease, fifty years; (b) in case of a mining lease, sixty years; (c) in case of any other lease, twenty-one years. No. 3771 s. 42. 42 Regulations respecting leases generally (1) Save as hereinafter provided, every lease— (a) shall be by deed, and be made to take effect in possession not later than twelve months after its date, or in reversion after an existing
(5) Where such an assignment for value was made before the commencement of the Act 1928, then on the exercise by the tenant for life after such commencement of any of the powers conferred by this Act— (a) a purchaser shall not be concerned to see or inquire whether the consent of the assignee has been obtained; and s. 104 (b) the provisions of paragraph (a) of the last preceding subsection shall apply for the benefit of the assignee. (6) A trustee or personal representative who is an assignee for value shall have power to consent to the exercise by the tenant for life of his powers under this Act, or to any such investment or application of capital moneys as aforesaid, and (subject to subsection (13) of this section) to bind by such consent all persons interested in the trust estate, or the estate of the testator or intestate. (7) If by the original assignment, or by any subsequent disposition, the estate or interest assigned or created by the original assignment, or any part thereof, or any derivative interest is settled on persons in succession, whether subject to any prior charge or not, and there is no trustee or personal representative in whom the entirety of the estate or interest so settled is vested, then the person for the time being entitled in possession under the limitations of that settlement, whether as trustee or beneficiary, or who would, if of full age, be so entitled, and notwithstanding any charge or incumbrance subsisting or to arise under such settlement, shall have power to consent to the exercise by the tenant for life of his powers under this Act, or to any such investment or application of capital money as aforesaid, and (subject to subsection (13) of this section) to bind by such
(x) Clearing; trenching; planting: (xi) Cottages for labourers, farm-servants, and artisans, employed on the settled land or not: (xii) Farmhouses, offices, and outbuildings, and other buildings for farm purposes: (xiii) Saw-mills, scutch-mills, and other mills, engine-houses and kilns, which will increase the value of the settled land for agricultural purposes or as woodland or otherwise: (xiv) Reservoirs, tanks, conduits, waterways, pipes, wells, ponds, shafts, dams, weirs, sluices, and other works and machinery for supply and distribution of water for agricultural, manufacturing or other purposes, or for domestic or other consumption: (xv) Tramways; railways; canals; docks: (xvi) Jetties, piers, and landing places on waterways, lakes, the sea, or tidal waters, for facilitating transport of persons and of agricultural stock and produce, and of manure and other things required for agricultural purposes, and of minerals, and of things required for mining purposes: (xvii) Streets, roads, paths, squares, gardens, or other open spaces for the use, gratuitously or on payment, of the public or of individuals, or for dedication to the public, the same being necessary or proper in connexion with the conversion of land into building land: Sch. 2 (xviii) Sewers, drains, waterways, pipe-making, fencing, paving, brick-making, tile-making, and other works necessary or proper in connexion with any of the objects aforesaid:
entertainment, gasworks, electric light or power works, or any other works necessary or proper in connexion with the development of the settled land, or any part thereof as a building estate: (iv) Restoration or reconstruction of buildings damaged or destroyed by dry rot ants borers or other insects: Sch. 2 (v) Structural additions to or alterations in buildings reasonably required, whether the buildings are intended to be let or not, or are already let: (vi) Boring for water and other preliminary works in connexion therewith. III Sch. 2 (i) Heating, hydraulic or electric power apparatus for buildings, and engines, pumps, lifts, rams, boilers, flues, and other works required or used in connexion therewith: (ii) Engine houses, engines, gasometers, dynamos, accumulators, cables, pipes, wiring, switchboards, plant and other works required for the installation of electric, gas, or other artificial light, in connexion with any principal mansion house or other house or buildings; but not electric lamps, gas fittings, or decorative fittings required in any such house or building: (iii) Steam rollers, traction engines, motor lorries and moveable machinery for farming or other purposes.