53Acceptance of leases

53 Acceptance of leases (1) A tenant for life may, with the consent of the trustees of the settlement or order of the Court, arrange for the acceptance of a lease of any land or of any mines and minerals or of any easement right or privilege convenient to be held or worked with or annexed in enjoyment to the settled land or any part thereof for such period and upon such terms and conditions as are agreed upon: Provided that no fine shall be paid out of capital money in respect of such lease. (2) The lease shall be granted to the trustees of the settlement. (3) The lease may contain an option to purchase the reversion expectant on the term thereby granted. No. 3771 s. 54.