Land Act, 1927

Advances in the case of exchange of holdings.

55.—(1) Notwithstanding anything contained in sub-section (4) of section 9 of the Purchase of Land (Ireland) Act, 1891 , advances may be made to the persons or bodies mentioned in sub-section (1) of section 31 of the Land Act, 1923 , for the purchase by them from the Land Commission of holdings or portions of holdings subject to Land Purchase Annuities acquired by the Land Commission in exchange for other lands.

(2) Advances made in pursuance of this section shall be repaid by means of purchase annuities calculated at such rates as shall be prescribed, and consolidated so far as circumstances admit with the existing purchase annuities to which the holdings or portions of holdings are subject, in accordance with rules made by the Minister for Finance.