Section 41Part 8 — Miscellaneous Provisions
Cutting and sale of timber and part of proceeds to be set aside
←→ Navigate · Click subsection badges to collapse · Press ? for help
41. (1) Where a tenant for life is impeachable for waste in respect of timber, and there is on the settled land timber ripe and fit for cutting, the tenant or life, on obtaining the consent of the trustees of the settlement or an order of the Court, may cut and sell that timber, or any part thereof.
Seventy-five per cent of the net proceeds of the sale shall be set aside as and be capital money arising under this Law, and the other twenty-five per cent shall go as rents and profits.