Land Act, 1939

Losses on resales of sporting and other rights.

8.—Where the price fixed for the purchase of any sporting rights (including fisheries and fishery rights), grazing rights, rights of turbary, or other rights is such that the said rights cannot be resold without loss, the following provisions shall have effect, that is to say:—

(a) the Land Commission at the beginning of each half year shall certify the proportion of the purchase money which represents the difference between the total amount of the advances made for the purchase of the said rights and the total prices for the time being paid or agreed to be paid by purchasers thereof from the Land Commission;

(b) interest and sinking fund upon the proportion so certified at such rates respectively as shall be directed by the Minister for Finance shall, subject to the approval of that Minister, be paid to the Land Commission out of moneys provided by the Oireachtas.