IRISH LAND ACT 1903 - SECT 46 Redemption of purchase annuities.

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IRISH LAND ACT 1903 - SECT 46

Redemption of purchase annuities.

46.(1) Every purchase annuity under this Act or any part thereof at any time
outstanding may be redeemed, in whole or in part, by the person liable to pay
that annuity, by payment to the Land Commission of the difference between the
accumulated sinking fund and the sum sufficient (after payment of interest to
date) to purchase the requisite amount of stock, such amount to be determined
in accordance with rules made by the Treasury.

(2) Where a purchase annuity or any part thereof is redeemed, the National
Debt Commissioners shall, in manner prescribed by the Treasury, cancel the
aforesaid amount of the stock.

(3) Any rules under this section shall, as soon as may be after they are made,
be laid before both Houses of Parliament.

Land Purchase Aid Fund.

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Northern Irish Legislation

IRISH LAND ACT 1903 - SECT 46