S.I. No. 230/1957:

LAND BOND ORDER, 1957.

LAND BOND ORDER, 1957.

I, SÉAMAS Ó RIAIN, Minister for Finance, in exercise of the powers conferred on me by section 4 of the Land Bond Act, 1934 (No. 11 of 1934), section 4 of the Land Act, 1936 (No. 41 of 1936), and sections 4 and 8 of the Land Act, 1953 (No. 18 of 1953), hereby order as follows :

1.--(1) This Order may be cited as the Land Bond Order, 1957.

(2) This Order and the Land Bond Orders, 1934 to 1956, may be cited together as the Land Bond Orders, 1934 to 1957.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to this Order.

3. A series of land bonds is hereby created of the total amount of one hundred thousand pounds to be known as five and three-quarters per cent. land bonds.

4. The denominations in which the series of land bonds created by this Order shall be issued shall be one pound, ten pounds and one hundred pounds, and no other denominations.

5. The series of land bonds created by this Order is hereby consolidated with the series land bonds created by the Land Bond Order, 1956 ( S.I. No. 306 of 1956 ), to the intent that the two series shall form one consolidated series of land bonds created under the Land Bond Act, 1934 , amounting to the sum of six hundred and fifty thousand pounds and paragraphs 6, 7, 8, 9, 10 and 11 of that Order shall apply to the consolidated series accordingly.

6. The said consolidated series of land bonds shall be for the purpose of making advances and paying purchase moneys the amounts of which are agreed or fixed or deemed to be fixed in the period commencing the 1st day of December, 1956, and ending on the 31st day of December, 1957, except in relation to advances and purchase moneys required to be made or paid by means of an issue of land bonds bearing the same rate of interest as land bonds previously issued.

GIVEN under my Official Seal, this 8th day of November, 1957.

SÉAMAS Ó RIAIN,

Minister for Finance.

Explanatory Note.

This Order creates an additional £100,000 of 5¾% land bonds to supplement the amount (£550,000, which proved insufficient) of such bonds created under the Land Bond Order, 1956.