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Provision of moneys for purposes of Part II.
44 & 45 Vict. c. 49.
45 & 46 Vict. c. 47.
46 & 47 Vict. c. 43.
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35.—(1) For the purposes of this Part of this Act, the sum of one million five hundred thousand pounds (in this Act referred to as the Church Surplus Grant) shall, with interest at the rate of two and three-quarters per cent. per annum, be charged on the Irish Church Temporalities Fund, and such interest shall, so far as not required for the purposes of the Guarantee Fund as hereinafter mentioned, be placed at the disposal of and paid or applied as may be directed by the Congested Districts Board for the purposes of this Act.
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(2) The interest on the Church Surplus Grant shall be paid by the Land Commission at such times as the Treasury direct, and so far as not for the time being required, may, under the directions of the Treasury, be invested, and the principal and income of such investment shall be dealt with as if it were the said interest.
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(3) The Land Commission may, with the consent of the Treasury, place at the disposal of and pay and apply as may be directed by the Congested Districts Board for the purposes of this Act any part of the principal of the Church Surplus Grant which may not in the opinion of the Treasury and of the Lord Lieutenant be required for the purposes of the contingent portion of the guarantee fund.
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(4) Section thirty-two of the Land Law (Ireland) Act, (1881), and section twenty of the Arrears of Rent (Ireland) Act, 1882, and section twelve of the Tramways and Public Companies (Ireland) Act, 1883, shall be repealed.
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(5) The Irish Reproductive Loan Fund and the Sea and Coast Fisheries Fund, including all moneys due on foot of loans, and for interest, dividends, and other annual income payable on foot of such funds,[1]
save and except the sum of twenty thousand pounds, forming portion of the Sea and Coast Fisheries Fund, shall be placed at the disposal of the Board for the purposes of this Act, but shall be applicable only in any county in which the fund is before the passing of this Act applicable, and the said [1]
sum of twenty thousand pounds shall be retained by the Commissioners of Public Works, and expended by them elsewhere than in the congested district counties, as if this Act had not passed.
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[1 As to powers of the Board as to these funds, see 55 & 56 Vict. c. 61. s. 4.]
[1 This sum was placed at the disposal of the Department of Agriculture and Technical Instruction for Ireland, 62 & 63 Vict. c. 50, s. 15 (c), and the powers of the Commissioners of Public Works as to the sum were transfered to the Department by Stat. Rules and Orders, 1904, No. 657, p. 125.] |
