Registration of Title Act, 1942
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Winding up of the insurance fund, and payment thereof into the Exchequer. |
23.—(1) As soon as conveniently may be after the passing of this Act, the insurance fund shall be wound up, and for that purpose, the trustees of the said fund shall take all such steps as may be necessary to realise the investments in which the said fund is then invested, and to pay into or dispose of for the benefit of the Exchequer the net proceeds of such realisation and any other cash in the fund in such manner as the Minister for Finance shall direct. | |
(2) So much of the Land Registration Rules, 1937, ( S. R. & O., No. 264 of 1937 ), as provides for the payment to the trustees of the insurance fund of a portion of the total sum received on the sale of Land Registry stamps shall cease to have effect, and any additional insurance fees payable under those Rules shall, while those Rules remain in force, in lieu of being paid to the said trustees, be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance shall direct. | ||
(3) In this section, the expression “the insurance fund” means the insurance fund established under section 92 of the Principal Act. |