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Leasehold (Enlargement and Extension) Act (Northern Ireland) 1971

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21 F1Application of capital money under Settled Land Acts.N.I.

(1)Capital money arising under the Settled Land Acts, 1882 to 1890, may be applied—

(a)in payment of any sum payable to a person in respect of compensation or damages awarded under section 20 and any costs, charges and expenses payable in relation thereto; or

(b)in payment of any costs, charges and expenses incurred in or in relation to making or opposing an application to the Lands Tribunal under this Act.

(2)The payment of compensation or damages awarded under section 20 shall be included among the purposes for which a tenant for life may raise money under section 18 of the Settled Land Act, 1882 [1882 c.38] .

(3)Where a person liable to pay compensation under section 20 is a tenant for life or in a fiduciary position he may require the sum payable in respect of such compensation and any damages, costs, charges and expenses payable in relation thereto to be paid out of settled land or out of any capital money held on the same trusts as the settled land.

(4)In this section “capital money” includes any personal estate held on the same trusts as the land, and “settled land” includes land held on trust for sale.

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F1functions transf. 1982 NI 6

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