Northern Ireland Land Act 1929

1 Postponement of appointed day and provisions consequential thereon.

(1) The appointed day under the [15 & 16 Geo. 5. c. 34.] Northern Ireland Land Act, 1925 (hereinafter referred to as the Act of 1925), may, notwithstanding anything in that Act, be a date later than the twenty-seventh day of May, nineteen hundred and twenty-nine.

(2) Where the appointed day fixed as respects any holding for the vesting of the holding in the Land Purchase Commission, Northern Ireland (hereinafter referred to as the Commission) under section eight of the Act of 1925, is a date subsequent to the said twenty-seventh day of May, then, notwithstanding anything in the Land Purchase Acts, the following provisions shall have effect with respect to the holding—

(a) the holding shall be treated as a holding to which Part II of the Act of 1925 applies if, had the appointed day been the said twenty-seventh day of May, it would have been so treated, unless before the appointed day the holding has been purchased under the Land Purchase Acts or is on the appointed day the subject of an actual purchase agreement thereunder ;

(b) the person with whom the Commission is to be deemed under section twelve of the Act of 1925 to have entered into a purchase agreement shall be the person who was tenant of the holding on the said twenty-seventh day of May, or the executors, administrators or assigns of that person;

(c) any sum which but for this provision would be payable to the vendor by way of bonus or interest thereon shall be payable to the person who would have been vendor had the appointed day been the said twenty-seventh day of May, or the executors, administrators or assigns of that person;

(d) the rent of the holding shall continue to be payable to the person entitled thereto up to the gale day last preceding the appointed day;

(e) on the appointed day there shall be payable by the Commission—

(i) to the tenant, or to the person to whom the tenant may have assigned the right to receive the same, a sum equal to the amount (if any) by which the rent in respect of the period from the gale day next preceding the said twenty-seventh day of May to the gale day next preceding the appointed day (irrespective of section thirteen of the Act of 1925) exceeds the amount of the standard purchase annuity in respect of a like period;

(ii) to the National Debt Commissioners a sum calculated at the rate of five shillings per cent. per annum upon the purchase price in respect of the period aforesaid, and the sum so payable to the National Debt Commissioners shall be treated by them as paid on account of sinking fund;

and the sums so paid shall be treated as part of the expenses of the Commission.

(3) Where as respects any holding an appointed day has not been fixed on or before the said twenty-seventh day of May, and the tenancy in the holding is due to determine either by effluxion of time or the expiration of a notice to determine the tenancy, the tenant or the landlord shall be entitled to apply to the Commission for a declaration as to whether or not the holding is a holding to which Part II of the Act of 1925 applies.