S.I. No. 317/1950 - Land Bond Order, 1950.

S.I. No. 317 of 1950.

LAND BOND ORDER, 1950.

The Minister for Finance, in exercisce of the powers conferred on him by section 4 of the Land Bond Act, 1934 (No. 11 of 1934), and section 4 of the Land Act, 1936 (No. 41 of 1936), and of every and any other power him in this behalf enabling, hereby orders as follows :—

1 Short title and collective citation.

1. (1) This Order may be cited as the Land Bond Order, 1950.

(2) This Order and the Land Bond Orders, 1934 to 1949, may be cited together as the Land Bond Orders, 1934 to 1950.

2 Interpretation.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to this Order.

3 Creation of a series of land bonds.

3. A series of land bonds is hereby created of the total amount of one thousand pounds to be known as four per cent. land bonds.

4 Denominations of the land bonds.

4. The denominations in which the series of land bonds created by this Order shall be issued shall be one pound, ten pounds, and one hundred pounds, and no other denominations.

5 Consolidation of land bonds.

5. The series of land bonds created by this Order is hereby consolidated with the consolidated series of land bonds created by the Land Bond Orders, 1934 to 1941, to the intent that the series of land bonds created by this Order and the said consolidated series of land bonds shall form one consolidated series of land bonds created under the Land Bond Act, 1934 , amounting to the sum of five million seven hundred and fifty-four thousand pounds and, accordingly, paragraphs 6, 7, 8, 9, and 10 of the Land Bond Order, 1934 (S. R. & O., No. 181 of 1934), shall apply to the said consolidated series of land bonds amounting to the sum of five million seven hundred and fifty-four thousand pounds in like manner as they apply to the series of land bonds created by the said Land Bond Order, 1934.

6 Restriction of consolidated land bonds to amounts fixed in specified periods.

6. The said consolidated series of land bonds amounting to the sum of five million seven hundred and fifty-four thousand pounds shall be for the purpose of making advances and paying purchase moneys the amounts of which are agreed or fixed in the period commencing on the date of the passing of the Land Bond Act, 1934 ,and ending on the 31st day of January, 1942, or in the period commencing on the 1st day of January, 1951, and ending on the 31st day of December, 1951, except advances required to be made by means of an issue of new land bonds under the Land Bond Act, 1933 (No. 33 of 1933), or of three and one-half per cent. land bonds under the Land Bond Act, 1934 , or of three per cent. land bonds under the last-mentioned Act.

GIVEN under the Official Seal of the Minister for Finance, this 30th day of December, 1950.

(Signed) J. J. McELLIGOTT,

Secretary,

Department of Finance.