War Service Land Settlement Act 1950

A tenant to whom a holding is allotted under section fifteen or re-allotted under section thirty-one or section thirty-two shall pay to the Board the capital value of all structural improvements thereon – existing at the time of allotment or re-allotment; or done thereafter under section nineteen – which capital value shall be determined by the Board as if it were an outgoing tenant.

Notwithstanding anything contained in subsection (1) of this section, a tenant to whom a holding is allotted under section fifteen or re-allotted under section thirty-two is not liable to pay the Board, in respect of structural improvements done by it or at its expense, more than their capital value determined as on the first day of July 1946.

The tenant may make payment on terms and conditions laid down by the Board with consent, and the Board may notwithstanding anything contained in section twenty-two take a mortgage over the holding to secure the payment.