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Uimhir 33 de 1933.
ACHT NA mBANNAÍ TALMHAN, 1933.
Mínithe.
1.—San Acht so—
cialluíonn an abairt “an Príomh-Acht” an tAcht Talmhan, 1923 (Uimh. 42 de 1923), agus, lasmuich de chás ina n-éilíonn an cóthéacs a mhalairt, déanfar an abairt sin do léiriú mar thagairt don Acht san mar atá san leasuithe no leathnuithe le haon Acht ina dhiaidh sin;
cialluíonn an abairt “bannaí nua talmhan” bannaí nua talmhan ceathair go leith per cent. ar n-a dtabhairt amach fén Acht so;
foluíonn an abairt “airgead ceannaigh” praghas ath-sheilbhe gabháltais ath-shealbhuithe;
cialluíonn an abhairt “talamh tionóntuithe is cás ar feitheamh” talamh d'aon tsaghas acu so leanas, sé sin le rá:—
(a) gabháltaisí go ndearnadh mion-innste ina dtaobh do lóisteáil le Coimisiún na Talmhan roimh an Acht so do rith;
(b) gach fo-thionóntacht ar ghabháltas le n-a mbaineann an mhír dheiridh sin roimhe seo;
(c) gabháltaisí go bhfuair Coimisiún na Talmhan, roimh an Acht so do rith, iarrataisí ina dtaobh fé alt 10 den Acht Talmhan, 1927, no fé alt 44 den Acht Talmhan, 1931;
cialluíonn an abairt “talamh nea-thionóntuithe is cás ar feitheamh” talamh d'aon tsaghas acu so leanas, sé sin le rá:—
(d) talamh nea-thionóntuithe thiocfaidh ina dhiaidh seo chun bheith dílsithe i gCoimisiún na Talmhan fé alt 24 den Acht Talmhan, 1923, ach go ndearnadh có-aontú i dtaobh a phraghais no a phraghas do cheapadh roimh an Acht so do rith;
(e) talamh nea-thionóntuithe d'aontuigh Coimisiún na Talmhan do cheannach fé alt 36 den Acht Talmhan, 1923, agus go ndearnadh có-aontú i dtaobh a phraghais roimh an Acht so do rith;
(f) talamh nea-thionóntuithe thiocfaidh ina dhiaidh seo chun bheith dílsithe i gCoimisiún na Talmhan fé alt 11 den Acht Talmhan, 1927, ach go ndearnadh an t-iarratas ina thaobh fén alt san do lóisteáil roimh an Acht so do rith;
(g) gabháltaisí ath-shealbhóidh Coimisiún na Talmhan ina dhiaidh seo ach go ndearnadh an t-ordú i gcóir an ath-shealbhuithe sin no gur ceapadh (tré chó-aontú no ar shlí eile) an praghas ath-sheilbhe ina dtaobh roimh an Acht so do rith;
(h) talamh a cheannóidh Coimisiún na Talmhan ina dhiaidh seo fé alt 42 den Acht Talmhan, 1927, ach go ndearna an tAire Airgid ina thaobh, roimh an Acht so do rith, aontú leis an scéim chun an tailimh sin do cheannach agus d'ath-dhíol;
(i) talamh nea-thionóntuithe go ndearnadh ina thaobh, roimh an Acht so do rith, ordú fé alt 38 den Acht Talmhan, 1923, chun cíos no cuid ronna de chíos d'fhuascailt;
(j) talamh go ndearnadh ina thaobh, roimh an Acht so do rith, ordú fé alt 39 den Acht Talmhan, 1923, chun leas no muirear uachtarach d'fhuascailt.
Airgead ceannaigh d'íoc i mbannaí nua talmhan.
2.—(1) Déanfar an t-airgead ceannaigh uile is iníoctha ag Coimisiún na Talmhan tar éis an Achta so do rith le díoltóirí, maidir le haon talamh tionóntuithe is cás ar feitheamh no maidir le haon talamh nea-thionóntuithe is cás ar feitheamh, d'íoc tré bhannaí nua talmhan ceathair go leith per cent. do thabhairt amach fén Acht so, bannaí gur có-ionann a n-ainm-mhéid leis an airgead ceannaigh agus ar a mbeidh ús o dháta an tailimh cheannuithe do dhílsíú i gCoimisiún na Talmhan.
(2) Déanfaidh an díoltóir, i gcúrsaí idir an díoltóir sin agus Coimisiún na Talmhan, bannaí nua talmhan do bhéarfar amach don díoltóir sin do réir an ailt seo do ghlacadh mar chó-ionannas a gcothruim d'airgead ceannaigh, agus éinne ag á mbeidh comhacht chun díola fé sna hAchtanna Talamh-Cheannaigh, féadfaidh, cé nách únaer amuich is amach é, connradh ceannaigh déanach do dhéanamh bíodh gur i mbannaí nua talmhan a bheidh an t-airgead ceannaigh le n'íoc, fén alt so, agus nách in airgead.
(3) Bainfidh alt 3 den Phríomh-Acht, mar atá san leasuithe le halt 4 d'Acht na mBannaí Talmhan, 1925 (Uimh. 25 de 1925), le gach éileamh i gcoinnibh an airgid cheannaigh (mar a mínítear san san alt san 3 mar atá san leasuithe amhlaidh) nuair is i mbannaí nua talmhan a bheidh an t-airgead ceannaigh sin iníoctha, fén alt so, fé mar a bhaineann sé leis na héilithe luaidhtear san alt san 3 mar atá san leasuithe amhlaidh, ach san fé réir an atharuithe go ndéanfar tagairtí do bhannaí talmhan, san alt san 3 mar atá san leasuithe amhlaidh, do léiriú mar thagairtí do bhannaí nua talmhan agus go mbeidh éifeacht acu dá réir sin.
Roimh-íocanna d'íoc i mbannaí nua talmhan.
3.—(1) Gach roimh-íoc a íocfaidh Coimisiún na Talmhan chun crícheanna an Phríomh-Achta, tar éis an Achta so do rith, chun aon tailimh thionóntuithe is cás ar feitheamh do cheannach no maidir leis sin, no alos aon tailimh nea-thionóntuithe is cás ar feitheamh, is tré bhannaí nua talmhan ceathair go leith per cent. do thabhairt amach fén Acht so a híocfar é.
(2) Na forálacha de sna hAchtanna Talamh-Cheannaigh a bhaineann le Coimisiún na Talmhan d'íoc roimh-íocanna chun crícheanna an Phríomh-Achta, agus le hús ar na roimh-íocanna san d'íoc agus le colann na roimh-íocanna san d'aisíoc tré bhlianachtaí ceannaigh no ar shlí eile, agus leis an íocaíocht agus an aisíocaíocht san d'urrú, bainfid le roimh-íocanna a híocfar fén alt so tré bhannaí nua talmhan do thabhairt amach díreach fé mara bhainid le roimh-íocanna d'íoc Coimisiún na Talmhan chun crícheanna an Phríomh-Achta roimh an Acht so do rith.
Bannaí nua talmhan do bhunú agus do thabhairt amach.
4.—(1) Chun soláthair do dhéanamh chun roimh-íocanna agus chun airgid cheannaigh d'íoc is gá do réir an Achta so d'íoc tré bhannaí nua talmhan do thabhairt amach fén Acht so, beidh comhacht ag an Aire Airgid (fé réir na teorann a forchuirtear tríd an alt so) bannaí dá ngairmfear bannaí nua talmhan ceathair go leith per cent., de pé tomhasanna (nách lugha in aon chás ná púnt) ar a gcinnfidh an tAire sin, do bhunú agus do thabhairt amach fé mar is gá agus nuair is gá san.
(2) Ní raghaidh méid iomlán na mbannaí nua talmhan do bhéarfar amach fén Acht so thar milleon púnt in ainm-luach.
(3) Bhéarfaidh bannaí nua talmhan ús do réir a ceathair go leith per cent. per annum ar a n-ainm-mhéid, ús a bheidh iníoctha ina chó-choda leath-bhliantúla ar pé uaire gach bliain a ceapfar le rialacháin ar n-a ndéanamh ag an Aire Airgid fén Acht so.
(4) Beidh bannaí nua talmhan ionfhuascailte ar par maraon le híoc gach riaráiste úis agus déanfaidh an tAire Airgid, tré rialacháin do dhéanamh fén Acht so, socrú chun iad d'fhuascailt tré tharraicí tréimhsiúla.
(5) Déanfaidh an tAire Airgid, tré rialacháin do dhéanamh fén Acht so, socrú chun fuascailte do dhéanamh láithreach ar bhannaí nua talmhan a haistreofar le hordú ón gCoimisinéir Breithiúntais i bhfuascailt blianachtaí talamh-cheannaigh is muirear ar thailte do thóg Coimisiún na Talmhan chucha fén bPríomh-Acht.
(6) Aon uair tar éis deich mbliana fichead do bheith caithte o am an Achta so do rith féadfar gach banna no aon bhanna nua talmhan ná beidh fuascailte cheana d'fhuascailt ar par pé uair no uaire agus le tarraicí no ar shlí eile ordóidh an tAire Airgid.
(7) Is amach as Ciste na mBannaí Talmhan a híocfar an t-ús ar bhannaí nua talmhan agus na suimeanna theastóidh chun na mbannaí sin d'fhuascailt fén alt so agus, maran leor an Ciste sin chun na críche sin, beidh a muirear agus a n-íoc san ar an bPrímh-Chiste agus ar a thoradh fáis mar chéad-mhuirear ar an gcéanna i ndiaidh muirearacha do bunuíodh roimh an Acht so do rith.
(8) Déanfar an t-airgead uile a híocfar amach as an bPrímh-Chiste le Ciste na mBannaí Talmhan fén bhfo-alt deiridh sin roimhe seo den alt so d'áireamh mar roimh-íoc sealadach le Ciste na mBannaí Talmhan agus déanfar suas é as an gCiste Urraíochta.
Bannaí nua talmhan d'fhuascailt.
5.—(1) Chun bannaí nua talmhan d'fhuascailt do réir an Achta so, cuirfear i leataoibh i gCiste na mBannaí Talmhan i ndeireadh gach leath-bhliana dar críoch an 1adh lá de Bhealtaine no an 1adh lá de Mhí na Samhna, go dtí go mbeidh fuascailt déanta ar gach banna nua talmhan do tugadh amach fén Acht so, na suimeanna so leanas, sé sin le rá:—
(a) suim is có-ionann le dó agus trí ochtú per cent. de sna suimeanna uile do roimh-íocadh no do híocadh, tré bhannaí nua talmhan do thabhairt amach, go dtí deireadh na leath-bhliana roimhe sin agus nár dheimhnigh an tAire Airgid do bheith aisíoctha agus, ina theanta san, más ar an lá deiridh den leath-bhliain roimhe sin do tugadh amach na bannaí nua talmhan, suim a háirmheofar do réir ráta ceathair agus trí ceathrúin per cent. per annum in aghaidh na tréimhse o dheireadh na leath-bhliana go dtí an chéad lá dividendum ina dhiaidh sin; agus
(b) suim a háirmheofar do réir ráta ceathair agus trí ceathrúin per cent. per annum de sna suimeanna uile do roimh-íocadh no do híocadh, tré bhannaí nua talmhan do thabhairt amach, o thosach na leathbhliana san agus nár dheimhnigh an tAire Airgid do bheith aisíoctha, agus is in aghaidh na tréimhse o dháta na mbannaí do thabhairt amach go dtí an chéad lá dividendum tar éis deireadh na leath-bhliana san a háirmheofar an tsuim sin amhlaidh; agus
(c) gach suim íocfaidh ceannuitheoirí tionóntacha i rith na leath-bhliana san i bhfuascailt blianachtaí ceannaigh is iníoctha fén bPríomh-Acht alos roimh-íocanna a híocfar tré bhannaí nua talmhan do thabhairt amach fén Acht so; agus
(d) gach suim íocfaidh ceannuitheoir in airgead i rith na leath-bhliana san ar Choimisiún na Talmhan do dhíol aon tailimh leis do dílsíodh ionta fén bPríomh-Acht agus gur tré bhannaí nua talmhan do thabharit amach fén Acht so do híocadh a airgead ceannaigh.
Déanfar na méideanna so leanas do bhaint as na suimeanna cuirfear i leataoibh amhlaidh i ndeireadh aon leath-bhliana, sé sin le rá:—
(e) méid an úis is iníoctha an chéad lá dividendum eile ar scór gach banna nua talmhan do tugadh amach agus nár fuascladh go deireadh na leath-bhliana san; agus
(f) an méid a theastóidh, más aon mhéid é, chun íochta do dhéanamh i ngach banna nua talmhan do haistríodh i rith na leath-bhliana san, le hordú an Choimisineura Bhreithiúntais, i bhfuascailt blianachtaí talamhcheannaigh; agus
(g) méid aon roimh-íoca do híocadh amach as an gCiste Urraíochta i rith na leath-bhliana san in íoc úis ar bhannaí nua talmhan, do tugadh amach an lá deiridh
12
den leath-bhliain roimhe sin no tar éis an lae sin agus roimh an lá dividendum sa leath-bhliain a céad-luaidhtear, in aghaidh na tréimhse idir an tabhairt-amach san agus an lá dividendum san.
(2) Isé suim a theastóidh chun bannaí nua talmhan do bhéarfar amach fén Acht so d'fhuascailt ar aon tarrac do dhéanamh ná méid iomlán na suim uile bheidh curtha i leataoibh fén alt so (lughaide na méideanna le baint as a luaidhtear sa bhfo-alt san roimhe seo) o rinneadh an tarrac deiridh roimhe sin maraon le pé ús a bheidh orduithe le rialacháin ar n-a ndéanamh fén Acht so.
Coimisiún na Talmhan d'íoc íocaíochtaí bliantúla le Ciste na mBannaí Talmhan.
6.—(1) Déanfaidh Coimisiún na Talmhan, pé uaire i ngach bliain ordóidh an tAire Airgid, ús do réir ráta ceathair go leith per cent. per annum agus ciste fiach-laigheaduithe do réir ráta an cheathrú cuid d'aon per cent. per annum d'íoc le Ciste na mBannaí Talmhan ar gach suim do roimh-íocadh no do híocadh tré bhannaí nua talmhan do thabhairt amach fén Acht so agus nár dheimhnigh an tAire Airgid do bheith aisíoctha.
(2) I gcás aon tsuime is iníoctha ag Coimisiún na Talmhan fén alt so le Ciste na mBannaí Talmhan do bheith aon tráth i riaráiste ar feadh dachad lá, déanfar an méid a bheidh i riaráiste amhlaidh do mhuirearú ar an gCiste Urraíochta agus d'íoc láithreach amach as an gCiste sin.
Forálacha bhaineann leis an gciste costaisí d'oiriúnú.
7.—Chun ailt 5 den Phríomh-Acht do chur i mbaint le cásanna ina ndéanfar an t-airgead ceannaigh do roimh-íoc tré bhannaí nua talmhan do thabhairt amach fén Acht so, déanfar gach tagairt san alt san 5 do Bhannaí Talmhan 4½ per cent. do léiriú mar thagairt do bhannaí nua talmhan agus, chun crícheanna na bainte sin, beidh éifeacht ag an alt san 5 dá réir sin.
Méideanna na n-íocaíocht d'áireamh.
8.—Chun crícheanna íocaíocht a bheidh le n'íoc fén Acht so tré bhannaí nua talmhan do thabhairt amach, déanfar an t-airgead ceannaigh uile agus gach íocaíocht a bheidh le n'íoc as airgead ceannaigh d'áireamh go dtí an méid púnt slán is giorra don toradh chruinn.
Cuntaisí Chiste na mBannaí Talmhan.
9.—Déanfaidh an tAire Airgid, sna cuntaisí choimeádfaidh ar na gnóthaí alos Ciste na mBannaí Talmhan, dealú idir ghnóthaí alos bannaí talmhan do tugadh amach roimh an Acht so do rith agus roimh-íocanna agus íocaíocht do híocadh tré sna bannaí talmhan san do thabhairt amach, ar thaobh, agus gnóthaí alos bannaí nua talmhan agus roimh-íocanna agus íocaíocht a híocfar tré bhannaí nua talmhan do thabhairt amach, ar an taobh eile.
Tréimhse chun bannaí talmhan d'fhuascailt.
10.—An tréimhse de dheich mbliana fichead a luaidhtear sa phroviso ghabhann le fo-alt (3) d'alt 1 den Phríomh-Acht, mar atá san leasuithe le halt 3 d'Acht na mBannaí Talmhan, 1925 (Uimh. 25 de 1925), is ón 18adh lá de Mhí na Nodlag, 1932, a háirmheofar í agus ní o am an bhanna do thabhairt amach, agus déanfar an t-alt san 1 (mar atá san leasuithe amhlaidh) do léiriú agus beidh éifeacht aige agus tuigfear go raibh éifeacht riamh aige dá réir sin.
Rialacháin.
11.—Féadfaidh an tAire Airgid rialacháin do dhéanamh chun forálacha an Achta so do chur in éifeacht agus féadfaidh leis na rialacháin sin aon fhoráil a bhaineann le hairgead talamhcheannaigh agus atá in Acht ar bith do ritheadh roimh an Acht so d'oiriúnú chun crícheanna an Achta so.
Gearr-theideal, léiriú, agus luadh.
12.—(1) Féadfar Acht na mBannaí Talmhan, 1933, do ghairm den Acht so.
(2) Léireofar an tAcht so mar éinní amháin leis na hAchtanna Talamh-Cheannaigh agus féadfar é do luadh i dteanta na nAchtanna san.
Number 33 of 1933.
LAND BOND ACT, 1933.
ARRANGEMENT OF SECTIONS
Section | |
Annual payments by the Land Commission to the Land Bond Fund. | |
Acts Referred to | |
No. 42 of 1923 | |
No. 25 of 1925 | |
Number 33 of 1933.
LAND BOND ACT, 1933.
Definitions.
1.—In this Act—
the expression “the Principal Act” means the Land Act, 1923 (No. 42 of 1923), and, save where the context otherwise requires, shall be construed as referring to that Act as amended or extended by any subsequent Act;
the expression “new land bonds” means four and one-half per cent, new land bonds issued under this Act;
the expression “purchase money” includes the resumption price of a resumed holding;
the expression “tenanted land which is a pending case” means land which comes within any of the following descriptions, that is to say:—
(a) holdings of which particulars have been lodged with the Land Commission before the passing of this Act;
(b) all sub-tenancies on a holding which comes within the next preceding paragraph;
(c) holdings in respect of which applications under section 10 of the Land Act, 1927, or under section 44 of the Land Act, 1931, have been received by the Land Commission before the passing of this Act;
the expression “untenanted land which is a pending case” means land which comes within any of the following descriptions, that is to say:—
(d) untenanted land which hereafter becomes vested in the Land Commission under section 24 of the Land Act, 1923, but the price of which was agreed upon or fixed before the passing of this Act;
(e) untenanted land agreed to be purchased by the Land Commission under section 36 of the Land Act, 1923, the price of which was agreed upon before the passing of this Act;
(f) untenanted land which hereafter becomes vested in the Land Commission under section 11 of the Land Act, 1927, but in respect of which the application under that section was lodged before the passing of this Act;
(g) holdings hereafter resumed by the Land Commission but in respect of which either the order for such resumption was made or the resumption price was fixed (by agreement or otherwise) before the passing of this Act;
(h) land hereafter purchased by the Land Commission under section 42 of the Land Act, 1927, but in respect of which the scheme for the purchase and resale of such lands was approved of by the Minister for Finance before the passing of this Act;
(i) untenanted land in respect of which an order for the redemption of a rent or apportioned part of a rent was made under section 38 of the Land Act, 1923, before the passing of this Act;
(j) land in respect of which an order for the redemption of a superior interest or charge was made under section 39 of the Land Act, 1923, before the passing οf this Act.
Payment of purchase moneys in new land bonds.
2.—(1) All purchase money payable by the Land Commission after the passing of this Act to vendors in respect of any tenanted land which is a pending case or in respect of any untenanted land which is a pending case shall be paid by means of an issue under this Act of four and one-half per cent. new land bonds equal in nominal amount to the purchase money and carrying interest as from the date on which the land purchased is vested in the Land Commission.
(2) New land bonds issued to a vendor in pursuance of this section shall, as between such vendor and the Land Commission, be accepted by such vendor as the equivalent of the corresponding amount of purchase money, and any person having power to sell under the Land Purchase Acts may, although he is not an absolute owner, enter into a subsequent purchase agreement notwithstanding that the purchase money is under this section to be paid in new land bonds instead of cash.
(3) Section 3 of the Principal Act as amended by section 4 of the Land Bond Act, 1925 (No. 25 of 1925), shall apply to all claims against the purchase money (as defined in the said section 3 as so amended) when such purchase money is under this section, payable in new land bonds in like manner as it applies to the claims mentioned in the said section 3 as so amended, but subject to the modification that references in the said section 3 as so amended to land bonds shall be construed and have effect as references to new land bonds.
Making of advances in new land bonds.
3.—(1) All advances made for the purposes of the Principal Act by the Land Commission after the passing of this Act for or in connection with the purchase of any tenanted land which is a pending case or in respect of any untenanted land which is a pending case, shall be made by means of an issue under this Act of four and one-half per cent. new land bonds.
(2) The provisions of the Land Purchase Acts relating to the making of advances by the Land Commission for the purposes of the Principal Act, the payment of interest on and the repayment of the capital of such advances by means of purchase annuities or otherwise, and the guarantee of such payment and repayment shall apply to advances made under this section by means of an issue of new land bonds in like manner in all respects as they apply to advances made by the Land Commission for the purposes of the Principal Act before the passing of this Act.
Creation and issue of new land bonds.
4.—(1) In order to provide for the making of advances and the payment of purchase moneys which are required by this Act to be made or paid by means of an issue under this Act of new land bonds, the Minister for Finance shall (subject to the limitation imposed by this section) have power to create and issue, as and when required, bonds to be called four and one-half per cent. new land bonds of such denominations (not in any case less than one pound) as the said Minister may determine.
(2) The total amount of new land bonds issued under this Act shall not exceed one million pounds in nominal value.
(3) New land bonds shall bear interest at the rate of four and one-half per cent. per annum on the nominal amount thereof payable by equal half-yearly instalments at such times in each year as may be fixed by regulations made by the Minister for Finance under this Act.
(4) New land bonds shall be redeemable at par together with payment of all arrears of interest, and the Minister for Finance shall by regulations made by him under this Act make arrangements for such redemption by means of periodical drawings.
(5) The Minister for Finance shall, by regulations made by him under this Act, provide for the immediate redemption of new land bonds transferred by order of the Judicial Commissioner in redemption of land purchase annuities charged on lands acquired by the Land Commission under the Principal Act.
(6) At any time after the expiration of thirty years from the passing of this Act all or any new land bonds not previously redeemed may be redeemed at par at such time or times and either by drawing or otherwise as the Minister for Finance may direct.
(7) The interest on new land bonds and the sums required for the redemption thereof under this section shall be paid out of the Land Bond Fund and, if that Fund shall be insufficient for that purpose, shall be charged upon and paid out of the Central Fund and the growing produce thereof as a first charge thereon after charges created before the passing of this Act.
(8) All money paid out of the Central Fund to the Land Bond Fund under the next preceding sub-section of this section shall be treated as a temporary advance to the Land Bond Fund and shall be made good out of the Guarantee Fund.
Redemption of new land bonds.
5.—(1) For the purpose of the redemption of new land bonds in pursuance of this Act, there shall be set aside in the Land Bond Fund at the close of every half-year ending on the 1st day of May or the 1st day of November, until all new land bonds issued under this Act have been redeemed, the following sums, that is to say:—
(a) a sum equivalent to two and three-eights per cent. on all sums advanced or paid by the issue of new land bonds up to the close of the previous half-year and not certified by the Minister for Finance to have been repaid, together with, where the new land bonds were issued on the last day of the previous half-year, a sum calculated at the rate of four and three-quarters per cent. per annum for the period from the close of the half-year up to the next following dividend day; and
(b) a sum calculated at the rate of four and three-quarters per cent. per annum on all sums advanced or paid by the issue of new land bonds since the beginning of such half-year and not certified by the Minister for Finance to have been repaid, such sum being so calculated for the period from the date of issue of the bonds up to the dividend day next after the end of such half-year; and
(c) all sums paid during such half-year by tenant-purchasers in redemption of purchase annuities payable under the Principal Act in respect of advances made by means of an issue of new land bonds under this Act; and
(d) every sum paid during such half-year in cash by a purchaser on the sale to him by the Land Commission of any land vested in them under the Principal Act the purchase money whereof was paid by means of an issue of new land bonds under this Act.
The sums so set aside at the close of any half-year shall be subject to the following deductions, that is to say:—
(e) the amount of the interest payable on the next dividend day in respect of all new land bonds issued and not redeemed up to the end of such half-year; and
(f) the amount, if any, required for the payment off of all new land bonds which were transferred during that half-year by order of the Judicial Commissioner in redemption of land purchase annuities; and
(g) the amount of any advance made from the Guarantee Fund during such half year for payment of interest on new land bonds issued on or after the last day of the previous half-year and before the dividend day occurring in the first-mentioned half-year for the period between such issue and such dividend day.
(2) The sum required for the redemption of new land bonds issued under this Act on any drawing shall be the total amount of all sums set aside under this section (less by the deductions mentioned in the foregoing sub-section) since the next previous drawing together with such interest as shall be prescribed by regulations made under this Act.
Annual payments by the Land Commission to the Land Bond Fund.
6.—(1) Interest at the rate of four and one-half per cent. per annum and sinking fund at the rate of one-quarter of one per cent. per annum shall be paid by the Land Commission to the Land Bond Fund at such times in each year as shall be prescribed by the Minister for Finance on all sums advanced or paid by the issue of new land bonds under this Act and not certified by the Minister for Finance to have been repaid.
(2) If at any time any sum payable under this section by the Land Commission to the Land Bond Fund shall be in arrear for forty days, the amount so in arrear shall be charged on and forthwith made good out of the Guarantee Fund.
Adaptation of provisions relating to the costs fund.
7.—For the purposes of the application of section 5 of the Principal Act to cases in which the purchase money is advanced by means of an issue of new land bonds under this Act, all references in the said section 5 to 4½ per cent. Land Bonds shall be construed as references to new land bonds, and the said section 5 shall, for the purposes of such application, have effect accordingly.
Calculation of amounts of payments.
8.—For the purposes of payments to be made under this Act by means of an issue of new land bonds, all purchase money and all payments to be made out of purchase money shall be calculated to the nearest pound.
Accounts of the Land Bond Fund.
9.—The Minister for Finance shall, in the accounts kept by him of the transactions in respect of the Land Bond Fund, distinguish between transactions in respect, on the one hand, of land bonds issued before the passing of this Act and advances and payments made by the issue of such land bonds and, on the other hand, of new land bonds and advances and payments made by the issue of new land bonds.
Period for redemption of land bonds.
10.—The period of thirty years mentioned in the proviso to sub-section (3) of section 1 of the Principal Act, as amended by section 3 of the Land Bond Act, 1925 (No. 25 of 1925), shall be calculated from the 18th day of December, 1932, and not from the issue of the bond, and the said section 1 (as so amended) shall be construed and have effect and be deemed always to have had effect accordingly.
Regulations.
11.—The Minister for Finance may make regulations for carrying the provisions of this Act into effect and may by such regulations adapt for the purposes of this Act any provision relating to land purchase finance contained in any Act passed before this Act.
Short title, construction, and citation.
12.—(1) This Act may be cited as the Land Bond Act, 1933.
(2) This Act shall be construed as one with the Land Purchase Acts and may be cited with those Acts.