47Capitalisation of part of mining rent

47 Capitalisation of part of mining rent Under a mining lease, whether the mines or minerals leased are already opened or in work or not, unless a contrary intention is expressed in the settlement, there shall be from time to time set aside, as capital money arising under this Act, part of the rent as follows, namely: Where the tenant for life or statutory owner is impeachable for waste in respect of minerals, three-fourth parts of the rent, and otherwise one-fourth part thereof, and in every such case the residue of the rent shall go as rents and profits. Division 4—Miscellaneous powers No. 3771 s. 48.