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IRISH LAND ACT 1909 - SECT 8

Bonus dividend to be treated as expenses of issue of stock.

8.(1) Where stock is created for the purposes of the Land Purchase Acts, and
issued under conditions which provide that the money to be raised thereby
shall be paid up by instalments, dividends may be paid on the total nominal
amount of the stock from any date fixed at the time of issue, although the
instalments, or some or one of them, may not have been payable until after
that date; and, if the amount so paid by way of dividend exceeds the sum which
would have been payable on the portion of the stock representing the money
actually paid up, the difference shall be treated as part of the expenses of
the issue of the stock.

(2) This section shall apply to any stock created and issued since the first
day of July nineteen hundred and eight, as well as to stock issued after the
passing of this Act.

© 1909 Crown Copyright

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