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Application of Settled Land Acts.
[1931, s. 43; 1958, s. 17]
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79.—(1) The powers of granting leases conferred on a tenant for life by section 6 of the Settled Land Act, 1882, apply to the grant of any lease or tenancy which is required to be granted under this Act.
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(2) Capital money arising under the Settled Land Acts, 1882 to 1890, may be applied—
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(a) in payment of any sum payable to a person for compensation or damages awarded under this Act and any related costs, charges and expenses, or
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(b) in payment, as for an improvement authorised by the said Acts, of any money expended or costs incurred under this Act in or about the execution of an improvement, or
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(c) in payment of any costs, charges and expenses incurred in relation to an application under this Act.
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(3) The payment of compensation or damages awarded under this Act shall be included among the purposes for which a tenant for life may raise money under section 18 of the Settled Land Act, 1882.
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(4) (a) Where a person liable to pay compensation under this Act is a tenant for life or in a fiduciary position, he may require the sum payable for compensation and any related damages, costs, charges and expenses to be paid out of capital money held on the same trusts as the settled land.
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(b) In this subsection “capital money” includes personal estate held on the same trusts as the land, and “settled land” includes land held on trust for sale.
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