22Power to grant Leases for 99 Years for Purposes of Improvement, without Fine.
It shall be lawful for the Duke of Cornwall, by Deed under the Seal of the Duchy of Cornwall, to demise any Lands, Tenements, or Hereditaments for the Time being, Parcel of the Possessions of the said Duchy, for any Term of Years not exceeding the Term of Ninety-nine Years in possession, but not in reversion, with a view to the Improvement thereof by the Erection of new Buildings or the Repair of existing Buildings thereon, or in the Case of open or unimproved or waste Lands, by the Inclosure or Cultivation thereof, or otherwise, so as that upon every such Demise there shall be reserved a fair annual Rent to be incident to the immediate Reversion of the Premises to be thereby demised, without taking any Fine or Consideration in the Nature of a Fine for the granting thereof, and so that in every such Demise there shall be contained a Covenant on the Part of the Lessee for the Execution or Performance of the particular Improvements in consideration of which such Demise shall be granted.