S.I. No. 204/1983 - Land Bond (No. 2) Order, 1983.

S.I. No. 204 of 1983.

LAND BOND (NO. 2) ORDER, 1983.

I, ALAN M. DUKES, Minister for Finance, in exercise of the powers conferred on me by section 4 of the Land Bond Act, 1934 (No. 11 of 1934), section 4 of the Land Act, 1936 (No. 41 of 1936), and sections 4 and 8 of the Land Act, 1953 (No. 18 of 1953), hereby order as follows:

1. (1) This Order may be cited as the Land Bond (No. 2) Order, 1983.

(2) The collective citation "the Land Bond Orders, 1934 to 1983" shall include this Order.

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

3. A series of land bonds is hereby created of the total amount of one million five hundred thousand pounds to be known as thirteen and three-quarters per cent. land bonds.

4. The series of land bonds created by this Order shall be issued in denominations of one pound and in no other denominations.

5. The series of land bonds created by this Order is hereby consolidated with the series of land bonds created by the Land Bond (No 2) Order, 1979 ( S.I. No. 22 of 1979 ), to the intent that the two series shall form one consolidated series of land bonds created under the Land Bond Act, 1934 (No. 11 of 1934), amounting to the sum of twelve million five hundred thousand pounds and Articles 6, 7, 8, 9, 10 and 11, of the said Land Bond (No. 2) Order, 1979, shall apply to the consolidated series accordingly.

6. The said consolidated series of land bonds shall be for the purpose of making advances and paying purchase moneys the amounts of which are agreed or fixed or deemed to be fixed in the period commencing on the 1st day of January, 1979, and ending on the 31st day of December, 1979, or in the period commencing on the 1st day of January, 1983, and ending on the 31st day of December 1983, except in relation to advances and purchase moneys required to be made or paid by means of an issue of land bonds bearing the same rate of interest as land bonds previously issued.

GIVEN under my Official Seal this 18th day of July, 1983.

ALAN M. DUKES,

Minister for Finance.

EXPLANATORY NOTE.

The main purpose of this Order is to create a series of bonds bearing interest at 13¾% payable in respect of lands acquired by the Land Commission, where the purchase prices are agreed or fixed or deemed to be fixed between 1 January 1979 and 31 December 1979 or between 1 January 1983 and 31 December 1983.

The new series is consolidated with that already operative for the period 1 January 1979 to 31 December 1979.