Law of Property Act 1922

Amendments for the purposes of Parts V. and VI.

2 The following provisions shall, for the purposes of Parts V. and VI. of this Act, have effect as amendments of the Acts, namely:—

(1) References in the Acts to " enfranchisements " and to " sales" shall, after the commencement of this Act, extend to the extinguishment of manorial incidents :

(2) Where rights to manorial incidents are comprised in a settlement the tenant for life of full age, or statutory owner, may, as respects any fines payable in respect of an alienation in lieu of a fine payable for a licence authorising the alienation, agree the amount of the fine if the same is not fixed by the custom of the manor:

(3) Section fourteen and subsection (3) of section twenty of the Act of 1882 are hereby repealed :

(4) Any gross sum or an instalment thereof received in respect of the extinguishment of manorial incidents shall be capital money arising under the Acts :

(5) Capital money may be applied—

(a) In discharge of any fines payable in respect of the alienation of any settled land affected by manorial incidents;

(b) In payment of the gross sum or an instalment thereof payable as compensation for the extinguishment of manorial incidents affecting the settled land, and for the acquisition of any mines, minerals, and other rights of the lord or the owner of the land affected by the manorial incidents, and for the compensation of the steward;

(c) In redemption of any compensation rentcharge created in respect of the extinguishment of manorial incidents, and affecting the settled land ;

(d) In payment of costs and expenses incidental to any of the above matters:

(6) The tenant for life of full age, or statutory owner, shall, in reference to a compensation agreement and to other incidental matters, have the powers conferred on him by the Law of Property Act, 1922, either as tenant for life of full age, or statutory owner, of the settled land affected by manorial incidents, or of the manor, or otherwise in right of the manorial incidents as the case may require :

(7) A tenant for life of full age, or statutory, owner may raise money in like manner as he is authorised to raise money by section eleven of the Act of 1890 (as amended) for any of the following purposes, namely:—

(a) For extinguishing any manorial incidents under the Law of Property Act, 1922 ; or

(b) For compensating the steward on the extinguishment of manorial incidents and for discharging the expenses incurred in connexion with the extinguishment ; or

(c) For redeeming a compensation rentcharge created under the Law of Property Act, 1922, and affecting the settled land; and

(d) For discharging the money properly required for payment of the costs of any such transaction.