Land Act, 1927

Land Act, 1923 (Part III.) Fund to be opened in the Land Commission books.

47.—(1) All moneys received by the Land Commission under the provisions of Part III. of the Land Act, 1923 , as amended by this Act, other than moneys payable into the Land Bond Fund, and such portions of the deposits as may be applied under this Act in satisfaction of the claims of contributors or persons claiming through them, shall be paid into the credit of an account to be opened in the books of the Irish Land Commission and to be called the Land Act, 1923 (Part III.) Fund, and shall be disposed of by the Land Commission under the direction of the Minister for Finance in discharge of claims allowed under sub-section (2) of this section, in payment of arrears of purchase annuities due for advances made under Part III. of the Land Act, 1923 , in redemption of the annuities, or otherwise for the improvement of the lands so vested.

(2) All persons having claims against any moneys paid into the said fund shall furnish particulars of their claims within the prescribed time and in the prescribed manner and if the Land Commission is satisfied that any claim should be allowed they shall make such payment out of the fund to the claimant as the justice of the case may require.