S.I. No. 16/1973:

LIFE ANNUITY (SALE OF LAND TO LAND COMMISSION) (REVOCATION) REGULATIONS, 1973.

LIFE ANNUITY (SALE OF LAND TO LAND COMMISSION) (REVOCATION) REGULATIONS, 1973.

I, SEAN FLANAGAN, Minister for Lands, in exercise of the power conferred on me by section 6 (5) of the Land Act, 1965 (No. 2 of 1965) and with the consent of the Minister for Finance, hereby make the following regulations:

1. These Regulations may be cited as the Life Annuity (Sale of land to Land Commission) (Revocation) Regulations, 1973.

2. The Life Annuity (Sale of land to Land Commission) Regulations, 1967 ( S.I. No. 27 of 1967 ), and the Life Annuity (Sale of land to Land Commission) (Amendment) Regulations, 1969 ( S.I. No. 67 of 1969 ), are hereby revoked except in relation to annuities granted under section 6 of the Land Act, 1965 (No. 2 of 1965) in pursuance of applications made to the Land Commission before the first day of January, 1973.

GIVEN under my Official Seal this 22nd day of January, 1973.

SEAN FLANAGAN,

Minister for Lands.

The Minister for Finance consents to the making of the foregoing Regulations.

GIVEN under the Official Seal of the Minister for Finance this 22nd day of January, 1973.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE

The purpose of these Regulations is to terminate the existing scheme of Life Annuities for elderly, incapacitated or blind farmers introduced by the Minister for Lands in 1967. Revised Life Annuity proposals are being considered in conjunction with the formulation of a scheme for the implementation of the EEC Directive on Encouragement to leave farming (No. 72/160/EEC).