27Tenant-right: When it arises: Its nature

27 Tenant-right: When it arises: Its nature

(1)  Upon the transfer, surrender, forfeiture, or escheat of any holding the outgoing tenant shall have tenant-right in structural improvements upon the holding transferred, surrendered, forfeited, or escheated.

(2)  A person in whom tenant-right is vested shall be entitled to receive –

(a) in the case of a transfer, from the transferee; and

(b) in the case of a surrender, forfeiture, or escheat, from the Board –

the capital value of the improvements subject to that right.

(3)  The capital value of the improvements subject to the tenant-right shall be determined by the Board and the amount so determined shall upon registration of a memorandum thereof be and remain a charge on the holding until payment thereof.

(4)  *[Section 27 Subsection (4) inserted by No. 78 of 1952, s. 8 ]*Notwithstanding anything contained in subsection (2) of this section, where a holding is surrendered or forfeited or escheats to the Board within the period of ten years mentioned in subsection (1) of section twenty-two, and the capital value of improvements subject to the tenant-right as determined by the Board at the date of the surrender, forfeiture, or escheat exceeds the amount payable therefor under subsection (2) of section twenty-six, the Board shall not be liable to pay more than the amount payable under subsection (2) of section twenty-six plus, for every completed year of that period, one-tenth of the difference between the amount payable under subsection (2) of section twenty-six and the capital value as determined by the Board at the date of the surrender, forfeiture, or escheat.

(5)  *[Section 27 Subsection (5) inserted by No. 78 of 1952, s. 8 ]*Where in a case to which subsection (4) of this section applies there is a difference in nature, condition, or number between the structural improvements as they existed on the allotment of the holding and as they existed at the date of the surrender, forfeiture, or escheat an adjustment shall be made therefor as determined by the Board.

(6)  *[Section 27 Subsection (6) substituted by No. 22 of 1960, s. 8 ]*Where after the commencement of the War Service Land Settlement Act 1960 –