Land Bond Act, 1934

Limitations on the creation and issue of land bonds under this Act.

6.—(1) The total amount of land bonds created and issued under this Act shall not exceed ten million pounds.

(2) Notwithstanding anything contained in any other section of this Act, land bonds created and issued under this Act for the purpose of making an advance or paying any purchase money the amount of which is agreed or fixed on or before the 31st day of December, 1935, shall bear interest at the rate of four per cent. per annum on the nominal amount thereof.