Settled Land Act 1958

On or after or in connexion with a sale or grant for building purposes, or a building lease, or the development as a building estate of the settled land, or any part thereof, or at any other reasonable time, the tenant for life, for the general benefit of the residents on the settled land, or on any part thereof but subject to the provisions and requirements of any Act or Acts of the Parliament of Victoria dealing with or applicable to any such appropriation or use as is hereinafter mentioned—

may with the consent of the trustees of the settlement or order of the court cause or require any parts of the settled land to be appropriated and laid out for streets, roads, paths, squares, gardens, or other open spaces, for the use, gratuitously or on payment, of the public or of individuals, with sewers, drains, water-courses, fencing, paving or other works necessary or proper in connexion therewith; and

may provide that the parts so appropriated shall be conveyed to or vested in the trustees of the settlement, or other trustees, or any company or public body, on trusts or subject to provisions for securing the continued appropriation thereof to the purposes aforesaid, and the continued repair or maintenance of streets and other places and works aforesaid, with or without provision for appointment of new trustees when required; and

may execute any general or other deed necessary or proper for giving effect to the provisions of this section and thereby declare the mode, terms and conditions of the appropriation, and the manner in which and the persons by whom the benefit thereof is to be enjoyed, and the nature and extent of the privileges and conveniences granted.

In regard to the dedication of land for the public purposes aforesaid, a tenant for life shall, subject to such consent or order having been obtained, be in the same position as if he were an absolute owner.

A tenant for life with the like consent or order may—

enter into any agreement for the recompense to be made for any part of the settled land which is required for the widening of a highway under any Act;

consent to the diversion of any highway over the settled land under any Act—

All money, not being rent, received on the exercise of any power conferred by this section shall be capital money arising under this Act.