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S.I. No. 82/1927 - The Land (Finance) Rules, 1927.

STATUTORY RULES AND ORDERS. 1927. No. 82:

THE LAND (FINANCE) RULES, 1927.

WHEREAS it is enacted by subsection (1) of section 55 of the Land Act, 1927 (No. 19 of 1927), that notwithstanding anything contained in subsection (4) of section 9 of the Purchase of Land (Ireland) Act, 1891, advances may be made to the persons or bodies mentioned in subsection (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 :

AND WHEREAS it is enacted by subsection (2) of the said section 55 of the said Land Act, 1927 , that advances made in pursuance of the said section 55 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 :

AND WHEREAS it is enacted by subsection (2) of section 57 of the Land Act, 1927 (No. 19 of 1927), that the Minister for Finance shall have power to make rules and regulations for carrying the financial provisions of the said Land Act, 1927 , into effect, and for adapting to the requirements of the said Act such provisions of any enactments passed prior to the said Act as relate to land purchase finance :

AND WHEREAS it is expedient that the following rules be made for carrying the financial provisions of the said Land Act, 1927 , into effect :

NOW, the Minister for Finance in exercise of the powers conferred on him by subsection (2) of section 57 of the Land Act, 1927 (No. 19 of 1927) and of every and any other power him in this behalf enabling, hereby makes the following rules :—

1. These rules may be cited for all purposes as the Land (Finance) Rules, 1927.

2. The Interpretation Act, 1923 (No. 46 of 1923) applies to the interpretation of these rules in like manner as it applies to the interpretation of an Act of the Oireachtas.

3. (1) Advances made in pursuance of section 55 of the Land Act, 1927 (No. 19 of 1927) to the persons or bodies mentioned in subsection (1) of section 31 of the Land Act, 1923 (No. 42 of 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 shall be repaid by means of purchase annuities calculated at the rate applicable to the advance made for the purchase by the Land Commission of the said other lands in exchange for which the holdings or portions of holdings to which such advances relate were so acquired as aforesaid.

(2) The Land Purchase Annuities by means of which advances made in pursuance of section 55 of the said Land Act, 1927 , to the persons or bodies aforesaid are to be repaid under the foregoing paragraph shall be consolidated with the existing purchase annuity or the apportioned parts respectively of the existing purchase annuity to which the holdings or portions of holdings to which such advances relate are subject in the same manner as if the said Land Purchase Annuities and the said existing purchase annuity were purchase annuities consolidated in pursuance of the provisions of section 66 of the said Land Act, 1923 , and the provisions of Rule 31 of the Land (Finance) Rules, 1925, shall apply to the Land Purchase Annuities and the existing purchase annuity so consolidated in like manner as those provisions apply to the purchase annuities mentioned in the said Rule 31.

Given under the Official Seal of the Minister for Finance, this 19th day of September, 1927.

SEOSAMH UA BRAONÁIN,

Secretary, Department of Finance.