Creameries (Acquisition) Act, 1943
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Sale of superior interests in acquired leasehold premises. |
12.—(1) The Minister, if he thinks fit, may on the application of the Company and with the consent of the Minister for Finance make an order (in this Act referred to as a sale (superior interest) order) requiring the person entitled to any superior interest in any acquired leasehold premises to sell to the Company and the Company to purchase from such person, at a price to be determined under this section, such superior interest free from incumbrances. | |
(2) Every application for a sale (superior interest) order shall be accompanied by a draft of the proposed order. | ||
(3) In this Act the expression “the vendor” in relation to any sale (superior interest) order means the person required by the order to sell the superior interest to which the order relates. | ||
(4) A sale (superior interest) order may contain such provisions as the Minister thinks necessary or proper for giving full effect thereto. | ||
(5) Whenever the Minister proposes to make a sale (superior interest) order in relation to any superior interest, he shall not less than ten days before making the order publish in the Iris Oifigiúil notice of his intention to make such order, and any person having any claim affecting such superior interest by way of mortgage or otherwise, who has not later than seven days after the date of such publication furnished to the Company particulars of his claim, shall be entitled to make representations to the Minister or, if the price to be paid for such superior interest is to be determined by an arbitrator, the arbitrator in relation to the said price. | ||
(6) Whenever the Minister makes a sale (superior interest) order in relation to any superior interest, he shall cause copies of the order, sealed with his official seal, to be served on the vendor and the Company and, as on and from the date on which a copy of the order is served on the vendor, the vendor and the Company shall be deemed to have entered into an agreement for the sale of the said superior interest in accordance with the terms of the order. | ||
(7) Whenever the Minister makes a sale (superior interest) order in relation to any superior interest the price to be paid therefor shall be determined in accordance with the following provisions, that is to say:— | ||
(a) in case the vendor and the Company agree upon the said price and so inform the Minister not later than twenty days after the service of a copy of the order on the vendor and the Minister, after consultation with the Minister for Finance, and after consideration of any representations in relation to the said price made under sub-section (5) of this section, confirms such agreement, the said price shall be the price so agreed upon, | ||
(b) in any other case the following provisions shall have effect, that is to say:— | ||
(i) the said price shall be determined by an arbitrator whose determination shall be final and the arbitrator shall be such person as may be agreed upon by the vendor and the Company or, in default of agreement, an official arbitrator for the purposes of the Acquisition of Land (Assessment of Compensation) Act, 1919 , | ||
(ii) the costs of the vendor and the Company in any proceedings under this paragraph shall be in the discretion of the arbitrator, and the arbitrator may by his award direct the said costs of the vendor to be paid by the Company or direct the said costs of the Company to be paid by the vendor and may, in either case, fix the amount of such costs, | ||
(iii) the arbitrator may, as respects the costs and expenses of the parties in any proceedings under this paragraph, by his award and at his discretion— | ||
(I) direct the Company to pay a sum (to be measured by the arbitrator) towards the costs and expenses of the vendor, or | ||
(II) direct the vendor to pay a sum (to be measured by the arbitrator) towards the costs and expenses of the Company, or | ||
(III) direct the Company to pay the costs and expenses of the vendor as taxed by a Taxing Master of the High Court, or | ||
(IV) direct the vendor to pay the costs and expenses of the Company as taxed by a Taxing Master of the High Court, or | ||
(V) direct the vendor and the Company respectively to abide their own costs and expenses, | ||
(iv) when the arbitrator directs the vendor to pay a sum (to be measured by the arbitrator) towards the costs and expenses of the Company or directs the vendor to pay the costs and expenses of the Company as taxed by a Taxing Master of the High Court, the Company may deduct the amount payable to them under the direction from the said price. | ||
(8) Where the Minister makes a sale (superior interest) order in relation to any superior interest and the sale of the said superior interest is completed in accordance with the order, the Company shall pay to the vendor all costs necessarily and properly incurred by the vendor in relation to the said sale (other than, in case the price of the said superior interest has been determined by arbitration, the vendor's costs of the arbitration), less any costs paid or payable by the Company under section 11 of this Act in relation to such superior interest. |