16. Where the grantee of a parcel of land under concession that was the subject of a cancellation under section 40 of the Colonization Land Sales Act (chapter T-8) or his transferee transfered ownership of a parcel of land before the grant was cancelled, and the Minister received on deposit and did not formally refuse before 1 January 1973 the title for the transfer of property, the price at which the parcel of land or part thereof is sold to an occupant who produces a chain of titles originating from the first title shall be $345.