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IRISH LAND ACT 1909 - SECT 2

Power to raise new guaranteed three per cent. stock, and provision as to investment by savings bank depositors in stock.

2.(1) The power of the Treasury to create stock for the purpose of raising
money required for the Irish Land Purchase Fund (including the Land Purchase
Aid Fund) shall include power to create a new capital stock to be called
guaranteed three per cent. stock, and the Treasury may at any time create for
that purpose either guaranteed two-and-three-quarters per cent. stock or
guaranteed three per cent. stock, as they think fit.

(2) The provisions of the Act of 1903 relating to stock shall apply to
guaranteed three per cent. stock created under this section as they apply to
the guaranteed two-and-three-quarters per cent. stock created under that Act,
with the substitution of three per cent. for two-and-three-quarters per cent.
as the rate of dividend, and of thirty years from the passing of this Act for
thirty years from the commencement of the Act of 1903 as the period after the
expiration of which the stock is redeemable.

Subs.(3) rep. by 1958 c.6 s.17 sch.

Ss.36 rep. by SLR 1927; SLR 1950

© 1909 Crown Copyright

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