Land Act, 1933

• Permanent Page URL

Deficiencies in the Land Bond Fund.

27.—(1) The deficiencies in the Land Bond Fund arising from the provisions of this Part of this Act in relation to the payment of arrears of purchase annuities by means of funding annuities shall, to such extent and at such time or times as the Minister for Finance shall direct, be made good to that fund out of moneys provided by the Oireachtas and thereupon the charge on the Guarantee Fund in respect of those deficiencies shall cease.

(2) All deficiencies in the Land Bond Fund arising from the revision of annuities or from reductions made by this Part of this Act in the amounts payable in respect of other annual payments shall, to such extent and at such time or times as the Minister for Finance shall direct, be made good to the said fund out of moneys provided by the Oireachtas.

(3) So much (if any) of every sum paid into the Land Bond Fund in respect of a revised annuity as is attributable to a funding annuity included in such revised annuity shall be paid out of the said fund into the Exchequer at such times and in such manner as the Minister for Finance shall direct.