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Persons enabled to make Leases for the Purposes of this Act.
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III. All and every Persons and Person seised of or entitled in possession to Lands in Ireland, or to the Receipt of the Rents and Profits thereof, for an Estate of Fee-simple or Fee-farm, or any other perpetual Estate, subject to any Mortgage or Incumbrance, or for an Estate in Tail or quasi Entail of an Estate in Inheritance or perpetual Interest, or for the Term of his, her, or their own Life or Lives (not being Jointresses or Jointress), or for the Life or Lives of any other Person or Persons, or for so many Years as he, she, or they may live, or for an unexpired Term of Years, not being less than Sixty Years in its Inception, and whether absolute or determinable on a Life created out of an Estate of Inheritance or perpetual Interest by way of Settlement, and not in consideration of or subject to any Rent reserved thereby, and whether or not such Estate or Interest shall be subject to any Mortgage or other Incumbrance (provided the Incumbrancer shall not be in possession), shall have Power by virtue of this Act to make a Lease or Leases of all or any Part of such Lands to the said Building Trustees and to the said Royal Dublin Society respectively for any Term not exceeding Nine hundred and ninety-nine Years, or in Fee-farm, for the Purposes of the said Building and of this Act: Provided always, that every such Lease made under this Act shall be a Lease in possession and not in reversion or by way of future Interest, and that the Rent reserved thereby shall be the best improved yearly Rent that at the Time of making such Lease can be obtained or reasonably expected from a solvent Tenant, without Fine or Consideration of any kind: Provided always, that all Rents reserved and Covenants and Conditions contained in any Lease made under this Act shall enure to the Persons who for the Time being would, if such Lease had not been made, be entitled to the actual Possession of the Lands comprised in the said Lease, or to the Receipt of the Rents and Profits thereof, according to their Estates and Interests therein; and that every Lease made under this Act, and pursuant to the Provisions thereof, shall be valid to bind the Lessor or Lessors, his, her, or their Heirs, Executors, Administrators, Assigns, and Successors in Estate, and all Persons whomsoever deriving under the same Title or Settlement as that under which the Lessor or Lessors derives or derive, and notwithstanding any Entail, Law, or Custom to the contrary, and whether there be or be not any leasing Power annexed or belonging to the Estate of such Lessor or Lessors, but so as not to prejudice or interfere with any other Power of leasing to him, her or them belonging.
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