PartII
(7.) Such rules shall provide that the Court of the Land Commission in Dublin shall, when hearing appeals or rehearing cases, or hearing such other matters as may be prescribed, be held at the Four Courts, Dublin.
Power to nominate judge to act as additional Land Judges24. The Lord Chancellor may nominate any judge of the High Court with his consent to act, for the time specified by the Lord Chancellor, as an additional Land Judge for the purposes of the additional Record of Title (Ireland) Act, 1865, and the Local Registration of Title (Ireland) Act. 1891 28 & 29 Vitc. c. 88.
54 & 55 Vict. c. 66, and the judge ho nominated shall have during that time the jurisdiction of the Land Judge for those purposes
PART III.
Land Purchase.
Alteration of mode of calculating purchase annuity.25.—(1.) In the case of every advance under the Land Purchase Acts made after the commencement of this Act the purchase anuity shall be calculated and payable—
- (a) during the first decade of the annuity, upon the total advance; and
- (b) during the second and third decides, upon the portion of the advance which is ascertained, as provided by this section to be unpaid at the end of the previous decade; and
- (c) after the end of the third decade, upon the portion of the advance which is ascertained, as provided by this section to be then unpaid,
and shall continue to be paid until the whole advance is ascertained as provided by this section to have been repaid.
(2.) The Land Commission shall, in accordance with such rules as the Treasury may make—
- (a) at the end of each of the said decades ascertain how much of the advance has been repaid by means of the accumulation during the decade of that portion of the purchase annuity which represents repayment of capital, and the residue of the advance shall be the unpaid amount upon which the subsequent annuity is to be calculated and paid; and
- (b) ascertain when the whole advance has been repaid by means of the accumulation of that portion of the purchase annuitv which represents repayment of capital.
(3.) If the proprietor of a holding charged with an annuity applies to the Land Commission within the prescribed time and in the prescribed manner, prior to the end of each of the said decades that the annuity during the next decade shall not be reduced under this section, no alteration of the annuity shall then be made.
(4.) The amount of the annuity, when re-calculated as provided by this section, shall be certified by the Land Commission, and that certificate shall be conclusive for all purposes, and shall be sent by them for registration to the registration authority under the Local Registration of Title (Ireland) Act, 1891.54 & 55 Vict. c. 66.
