Finance Act, 1930

Redemption of Compensation Stock.

18.—(1) The Minister for Finance may from time to time, as and when he thinks proper, redeem any security issued under section 13 of the Damage to Property (Compensation) Act, 1923 (No. 15 of 1923), by paying to the registered holder of such security a sum equal to the nominal face value thereof together with the accrued interest thereon, but no such security shall be so redeemed without the consent of the registered holder thereof.

(2) For the purpose of this section interest on securities issued under the said section 13 of the Damage to Property (Compensation) Act, 1923 , shall be deemed to accrue from day to day.

(3) The power of redeeming securities conferred on the Minister for Finance by this section shall be in addition to and not in substitution for any other method of redeeming such securities for the time being authorised or prescribed by law.