Irish Land Act, 1909

Part I.

Land Purchase Finance.

Alteration of amount of purchase annuity and of rate of interest payable to National Debt Commissioners.

3 Edw. 7. c. 37.

1.(1) In the case of advances made in pursuance of future purchase agreements, three pounds ten shillings shall be substituted for three pounds five shillings as the rate of the purchase annuity under section forty-five of the Irish Land Act, 1903 (in this Act referred to as the Act of 1903).

(2) So far as respects advances made for future purchase agreements, the rate of interest to be paid by the Land Commission to the National Debt Commissioners under section thirty-six, and by the Congested Districts Board to the Land Commission under section seventy-two, of the Act of 1903, shall be three per cent. per annum, instead of two-and-three-quarters per cent. per annum.

(3) The National Debt Commissioners shall, in the accounts kept by them of the Irish Land Purchase Fund, distinguish between advances made in pursuance of pending purchase agreements and advances made in pursuance of future purchase agreements.