Land Bond Act, 1934
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Making of advances in land bonds. |
3.—(1) All advances (except advances which are required by the Land Bond Act, 1933 (No. 33 of 1933), to be made by means of an issue of new land bonds under that Act) made for the purposes of the Principal Act by the Land Commission after the passing of this Act shall be made by means of an issue under this Act of land bonds created under this Act. | |
(2) The provisions of the Land Purchase Acts relating to the making of advances by the Land Commission for the purposes of the Principal Act, the payment of interest on and the repayment of the capital of such advances by means of purchase annuities or otherwise, and the guarantee of such payment and repayment shall apply to advances made under this section by means of an issue of land bonds created under this Act in like manner in all respects as they apply to advances made by the Land Commission for the purposes of the Principal Act before the passing of this Act. |