Section 5 Power to transfer Crown Lands to Forestry Commissioners
Subject to the provisions of this section, His Majesty, on the joint representation of the Commissioners of Crown Lands and the Forestry Commissioners, may by Order in Council transfer to and vest in the Forestry Commissioners all the estate and interest of His Majesty in any land in Great Britain purchased by the Commissioners of Crown Lands within six months before the date of the Order.
Any such Order in Council shall provide—
that such sum as may be specified in the Order (hereafter referred to as the " capital sum "), being a sum equal to the price at which the land was so purchased together with the expenses incurred by the Commissioners of Crown Lands in connection with the purchase, shall be paid out of the Forestry Fund to the Commissioners of Crown Lands at such time as the Forestry Commissioners think fit, not being later than the expiration of one hundred years from the date of the Order;
that until the capital sum is paid out of the said Fund there shall be paid annually out of the said Fund to the Commissioners of Crown Lands such other sums as may be specified in the Order, being such sums as the Commissioners of Crown Lands and the Forestry Commissioners, with the approval of the Treasury, may agree to be equivalent to a reasonable rent for the land;
that the capital sum when paid shall be carried to the account of the capital of the land revenues of the Crown and applied accordingly and the said annual sums shall be treated as annual income of the land revenues of the Crown and applied accordingly.
In the event of the hereditary revenues which are by section one of the 26 Geo. 5. & 1 Edw. 8. c. 15.Civil List Act, 1936, directed to be carried to and made part of the Consolidated Fund of the United Kingdom ceasing to be carried to and made part of that Fund at any time before the capital sum payable by virtue of any such Order has been paid—
a sum equal to the said capital sum shall be paid forthwith out of that Fund or the growing produce thereof to the Commissioners of Crown Lands and carried to the account of the capital of the land revenues of the Crown and applied accordingly; and
the said capital sum and the annual sums payable by virtue of the Order shall be paid, at the times provided in the Order, into the Exchequer instead of to the Commissioners of Crown Lands.
The provisions of this section shall be in addition to and not in derogation of the provisions of section one of the 13 & 14 Geo. 5. c. 21.Forestry (Transfer of Woods) Act, 1923.