Irish Land Act, 1909

Advance dividend.

9.(1) Any person to whom an advance is made after the passing of this Act shall pay on the first gale day on which any payment in respect of the advance is due (in addition to the interest, or instalment of purchase annuity, due on that day), interest on the advance in respect of the period between the said gale day and the day on which the next dividends are payable in respect of the stock issued under the Act of 1903 or this Act.

(2) The interest payable shall be at the rate at which the Land Commission pay interest to the National Debt Commissioners in respect of the advance, and shall be recoverable as if it were part of the purchase annuity.