Land Act, 1923

Vesting in Land Commission on appointed day.

49.—All land purchased by a Society or body of trustees, by means of an advance made by the Bank, shall, if any part of the advance is unpaid, vest in the Land Commission on the appointed day, in like manner, and with the like consequences, as if vesting orders under the Land Purchase Acts had been made on the appointed day in respect thereof, in pursuance of subsequent purchase agreements entered into by the Land Commission with the Society or body of trustees, at the price fixed under the provisions contained in this Part of this Act.