Agricultural Credit Act, 1965

Amendment of section 9 of Act of 1961.

9.—(1) Subsection (1) of section 9 of the Act of 1961 is hereby amended by—

(a) the insertion after paragraph (b) of the following:

“or

(c) a personal representative of any such owner exercising a power conferred on him by section 48 of the Act of 1947,”,

(b) the insertion after “guarantee on the land” of “or on any land of which a person guaranteeing the repayment to the Corporation of the moneys and interest aforesaid is the registered owner”, and

(c) the insertion after “interest on the land” of “to which the order relates”.

(2) Subsection (5) of the said section 9 is hereby amended by the insertion in paragraph (a) after “the registered owner of land” in both places where it occurs of “or his personal representative”.

(3) The following subsection shall be substituted for subsection (10) of the said section 9:

“(10) (a) Stamp duty shall not be chargeable on any instrument whereby a charge or mortgage in favour of the Corporation is created or released or a charging order or a condition subject to which moneys are lent or advanced, or a guarantee is given, by the Corporation is varied or amended under this section or the consent of the registered owner or the person in occupation of the land to which the charge relates or the personal representative of such owner or person is given to such creation, variation or amendment.

(b) No fee or other payment shall be charged or imposed by the registering authority for the registration in a register of freeholders or in the Registry of Deeds of a charge or mortgage created in favour of the Corporation or for the cancellation of the entry of a charge or mortgage in favour of the Corporation in a register of freeholders or in the Registry of Deeds, as the case may be, or for the registration or other notation in a register of freeholders of the variation or amendment of a charging order in favour of the Corporation”.