Land Act, 1953

Amendment of section 5 of Land Act, 1936.

22.—(1) Section 5 of the Land Act, 1936 , is hereby amended by the deletion in subsection (1) of “out of the resumption price of such holding” and the substitution therefor of “and the redemption shall be effected, where the resumption price is payable in cash, by the payment of so much of the cash as is sufficient to pay the redemption price of such funding annuity and, where the resumption price is payable in land bonds,”.

(2) Subsection (1) of this section shall be deemed to have come into operation on the passing of the Land Act, 1936 .