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Irish Land Act 1903

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45Payment to Land Commission in respect of advances

As regards advances under the Land Purchase Acts in pursuance of agreements entered into after the passing of this Act—

(1)Every advance shall be repaid, in the manner and at the times prescribed by the Treasury, by means of a purchase annuity calculated at the rate of three pounds five shillings for every hundred pounds of the advance, and so in proportion for any less sum:

(2)The purchase annuity shall be paid until the whole of the advance in respect of which it is payable is ascertained in manner prescribed by the Treasury to have been repaid:

(3)Section twenty-five of the Act of 1896, relating to the mode of calculating purchase annuities, shall not apply.

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