Page:Public General Statutes 1896.djvu/425

1896.

and such purchase money shall be secured to the satisfaction of the Part IV. Board, and be payable by such annuity payable half-yearly, and calculated at such rate of interest, as may be agreed on.

(2.) For carrying such sale into effect the Trustees of the Congested Districts Board may convey the land to the purchaser charged with the said annuity; but the conveyance shall not operate to convert the interest of the purchaser in the holding into real estate.

(3.) The particulars of any such conveyance may be communicated to the Land Commission, and thereafter they shall issue half-yearly applications for payment of the half-yearly instalments of the annuity charged on the holding, and shall credit or pay to the Congested Districts Board all sums received by the Commission in respect thereof, and shall furnish to the Board particulars of all instalments for which they issue applications under this section, showing which have and which have not been paid.

(4.) The Trustees of the Congested Districts Board shall have for the recovery of any such instalments unpaid the same remedies as the Land Commission have for the recovery of unpaid instalments of an annuity under the Land Purchase Acts.

{5.) Holdings purchased under this section, while subject to any annuity for the payment of purchase money, shall not be subject to the provisions of the Local Registration of Title (Ireland) Act, 1891, but shall be subject to all the provisions of the Land Purchase Acts respecting a holding subject to an annuity under those Acts; and the power under those provisions to require a holding to be sold when subdivided by reason of the death of the proprietor may be exercised within twelve months after the subdivision becomes known to the Congested Districts Board, notwithstanding that it is more than twelve months after the death.

(6.) Whenever, upon the amalgamation of small holdings, part of the amalgamated holding is subject to an annuity under this section, and the amalgamated holding is not a small holding, the Congested Districts Board may agree with the occupier of such amalgamated holding for the purchase by him of that holding under the Land Purchase Acts, and the Land Commission may sanction the agreement and make an advance as if such occupier was in occupation of the whole of such holding under a contract of tenancy.

(7.) On such last-mentioned advance being made by the Land Commission, the balance of the principal of the purchase money payable by the annuity under this section shall be treated as repaid to the Board out of the advance, and the purchaser and the holding shall be discharged from all liability in respect of the said annuity.

45. Rules for carrying into effect this Part of this Act may be made by the Lord Lieutenant after communication with the Land Commission and the Congested Districts Board.