38.—(1) The Court may require an applicant for a reversionary lease to expend, within such time as the Court thinks proper, a specified sum of money on repairs or to execute specified repairs to the buildings to be comprised in the lease and may authorise the postponement of the execution of the lease until the requirement has been complied with.

(2) If the applicant refuses or fails to comply with the requirement of the Court, the Court may declare forfeit his right to a reversionary lease and discharge any order granting it to him.