Transfers
14 Transfers
An approved applicant shall not, without the consent in writing of the Minister first had and obtained, transfer, mortgage or encumber the land held by him under this Act or any part of that land, or enter into a contract of sale, lease, sub‑lease, conveyance or other dealing in respect to that land or any part thereof.
The Minister shall not give his consent to any contract of sale, transfer, or conveyance of the land or any part thereof unless and until all amounts owing by the approved applicant to the Minister or any Crown instrumentality, authority or agent have been paid.
If an approved applicant contravenes any of the provisions of this regulation, or in the event of his insolvency or bankruptcy, the Minister may forfeit the land held by that applicant under this Act, and cause the land to be taken over and entered upon by another approved applicant or otherwise disposed of in such manner as the Minister thinks fit.
Where, within the first 5 years of his being authorised under the Act and these regulations to occupy land or premises, an approved applicant wishes because of ill health, or for any other reason satisfactory to the Minister, to determine his interest in the land or premises, the Minister may compensate him in respect of improvements essential to the working of the land which he has effected, but there shall be deducted from the amount of such compensation any moneys owing by the approved applicant to any Crown authority.
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