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Amendment of 7 Edw. 7. c. 38.
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37.—(1) The powers conferred on the Land Commission by section one of the Irish Land Act, 1907, for the purpose of the disposal of the mining rights mentioned in that section shall include a power to demise such rights to any person by way of take note or prospecting lease for any term not exceeding two years, at such rent and upon such conditions as the Land Commission think proper, with an option to the lessee to take a reversionary lease upon the like or such other terms as may be agreed on.
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(2) On any demise under the said Act of 1907 as amended by this section, a royalty rent variable according to the price or value of the minerals gotten, or a fixed rent, or both, may be reserved to the Land Commission.
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