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Provision as to money spent by Land Commission on improvements of estates purchased by them.
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29.—(1) Regulations made by the Treasury may provide that where the Land Commission have expended money on the improvement of an estate purchased by them, and on the re-sale of the estate the sums realised by them exceed the sum originally advanced from the Irish Land Purchase Fund for the purchase of the estate, the National Debt Commissioners may advance to the Land Commission a sum equal to the excess, or, if that sum exceeds the amount expended by the Land Commission on the improvements, a sum equal to the amount so expended, for repayment to the reserve fund if that fund has not been exhausted, and, if that fund has been exhausted, for repayment to the Exchequer.
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(2) Where the amount realised by the Land Commission on the re-sale of a congested estate, or of an estate not being a congested estate on the improvement of which the Land Commission have expended money, is less than the sum originally advanced from the Irish Land Purchase Fund for the purchase of the estate, the deficiency in the case of a congested estate, and, in the case of an estate not being a congested estate, so much of the deficiency as does not exceed the amount so expended on improvements, shall be charged or remain charged, as the case requires, upon the reserve fund, if that fund has not been exhausted, and, if that fund has been exhausted, or so far as that fund is not sufficient for the purpose, shall be paid out of moneys provided by Parliament, and credited in manner directed by the Treasury to the Irish Land Purchase Fund.
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