11Part of compensation for mining to be set aside

11 Part of compensation for mining to be set aside

*[Section 11 Amended by 25 Geo. V No. 78 ]*Where a mining lease is granted under the Mining Act 1929 , in respect of any land which is subject to this Act, unless a contrary intention is expressed in the settlement, there shall be set aside, as capital money arising under this Act, part of any compensation received in respect thereof, as follows, namely: Where the tenant for life is impeachable for waste in respect of minerals, three-fourth parts of such compensation, and otherwise one-fourth part thereof, and in every such case the residue of such compensation shall go as rents and profits.