734. Conditions affecting cottage holdings sold by councils.

Land sold by a council for cottage holdings1 was required to be sold, except where the relevant minister2 otherwise directed, subject to a reservation of all minerals vested in the council3. Any cottage holding so sold was required to be held for a term of 40 years from the date of the sale and for so long thereafter as the holding remained charged with the terminable annuity, and had to be so held subject to the following conditions4:


    (1)     that periodical payments under the annuity be duly made5;


    (2)     that the holding be not divided6, sold, assigned, let or