Land Act, 1927

Provision for loss on resales.

27.—Where the price fixed for untenanted land situated in a congested districts county is such that the resale thereof cannot be effected without loss or where a parcel or a group of parcels of untenanted land or the whole or part of a retained holding, which the Land Commission have deemed it expedient to acquire or resume, can only be resold at a loss, then interest at the rate of 4½ per cent. per annum and sinking fund at the rate of one quarter of one per cent. per annum upon so much of the purchase money as the Land Commission shall certify each half-year represents the difference between the total amount of the advances made for the purchase of the lands and the total prices paid or agreed to be paid by purchasers of the lands from the Land Commission, shall subject to the approval of the Minister for Finance be paid to the Land Commission out of moneys to be provided by the Oireachtas.