Land Registration and Land Charges Act 1971

1 Payment of indemnity

(1) Any indemnity payable after the commencement of this section under any provision of the [1925 c. 21.] Land Registration Act 1925. including so much of any indemnity which has become so payable at any time before then as has not then been paid, shall, instead of being paid out of the insurance fund, be paid by the registrar out of moneys provided by Parliament; and no other person shall thereafter be under any liability to pay any such indemnity.

(2) Any money which at the commencement of this section stands to the credit of the insurance fund shall be paid into the Consolidated Fund, and any other assets then comprised in the insurance fund shall be realised forthwith, and the proceeds thereof shall be paid into the Consolidated Fund; and as soon as its assets have been so dealt with, the insurance fund shall cease to exist.

(3) In this section " the insurance fund " means the insurance fund established under the [1897 c. 65.] Land Transfer Act 1897.