25/03/1930:

THE LAND COMMISSION (EXCESS ANNUITIES) REGULATIONS), 1930.

THE LAND COMMISSION (EXCESS ANNUITIES) REGULATIONS), 1930.

245 (3)

EARNÁN DE BLAGHD, Minister for Finance, in exercise of the powers conferred on him by section 30 of the Irish Land Act, 1909, section 17 of the Land Act, 1923 (No. 42 of 1923), section 7 of the Land Bond Act, 1925 (No. 25 of 1925), and section 57 of the Land Act, 1927 (No. 19 of 1927), and of every and any other power conferred by the Land Purchase Acts or otherwise and him in this behalf enabling doth hereby make the following Regulations, that is to say :--

1. These Regulations may be cited for all purposes as the Land Commission (Excess Annuities) Regulations, 1930.

2. The Interpretation Act, 1923 (No. 46 of 1923) applies to the interpretation of these Regulations in like manner as it applies to the interpretation of an Act of the Oireachtas.

3. In these Regulations the expression " the Land Commission " means the Irish Land Commission, and the word " estate " includes an estate formed by the grouping together under section 26 of the Land Act, 1927 , of two or more parcels of untenanted land.

4. The Land Commission shall keep a separate account for every estate purchased by the Land Commission (whether before or after the making of these Regulations) or by the late Congested Districts Board for Ireland by means of advances under the Land Purchase Acts, and every such separate account shall show on the one hand the amounts advanced under the said Acts for the purchase of the estate to which the account relates and on the other hand the prices for which such estate is resold under the said Acts.

5. Whenever it appears from a separate account kept in pursuance of these Regulations that the total of the prices for which the estate to which the account relates was resold under the Land Purchase Acts exceeds the total of the amounts advanced under the said Acts for the purchase of such estate, so much of the purchase annuities payable in respect of such estate as is proportionate to the excess of the said total of the said prices over the said total of the said amounts advanced shall for the purposes of these Regulations be deemed to be excess annuities.

6. The following annuities, that is to say--

(a) additional annuities set up inder sub-section (1) of section 30 of the Irish Land Act, 1909 for the repayment of money expended by the Land Commission under that section, and

(b) annuities charged under sub-section (5) of section 44 of the Land Act, 1923 , upon any land for the repayment of money expended by the Land Commission under that sub-section, and

(c) annuities charged under sub-section (2) of section 22 of the Land Act, 1927 , upon any land for the repayment of money expended by the Land Commission under that section,

shall for the purposes of these Regulations be deemed to be excess annuities.

7. Where a holding (in this Regulation referred to as the original holding) is exchanged under section 46 of the Land Act, 1923 , by the registered owner thereof for a parcel of land (in this Regulation referred to as the new holding) sold to him under the Land Purchase Acts and the original holding is subsequently sold by the Land Commission to other purchasers under the Land Purchase Acts for prices amounting in the aggregate to a sum greater than the amount of the advance on the original holding, so much of the aggregate amount of the purchase annuities payable in respect of such subsequent sale of the original holding as exceeds the amount of the purchase annuity payable in respect of the advance on the original holding shall for the purposes of these Regulations be deemed to be excess annuities.

8. The Land Commission shall, in respect of every half-year, notify to the Minister for Finance the total amounts of the excess annuities payable in such half-year into the Purchase Annuities Fund and Land Bond Fund respectively.

9. The Minister for Finance shall, in the financial year ending on the 31st day of March, 1930, pay out of the Purchase Annuities Fund and out of the Land Bond Fund to the Land Commission a sum equal to the total amount of the excess annuities certified by the Land Commission to have been payable into those Funds respectively in the said or any previous financial year, and in every succeeding financial year pay out of the said Funds to the Land Commission a sum equal to the total amount of the excess annuities certified by the Land Commission to have been payable into the said Funds respectively in such financial year.

10. All moneys paid by the Minister for Finance to the Land Commission under these Regulations shall be applied by the Land Commission as an Appropriation in Aid of the Vote for the Land Commission.

Given under the Official Seal of the Minister for

Finance this 25th day of March, in the year

One Thousand Nine Hundred and Thirty.

J. J. McELLIGOTT,

Secretary,

Departrnent of Finance.