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Payment in lieu of rent.
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20.—(1) In the case of every holding to which this Act applies rent shall not be payable by the tenant in respect of any period after the gale day next preceding the date of the passing of this Act. There shall be payable by the tenant to the Land Commission as from the gale day next preceding the date of the passing of this Act an annual sum in lieu of rent equivalent to
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75 per cent. of the annual rent to which the holding was subject at the passing of this Act
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which sum is hereinafter referred to as “payment in lieu of rent.”
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(2) Payment in lieu of rent shall be collected by the Land Commission in accordance with rules made by them.
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(3) Payment in lieu of rent shall continue to be payable up to the appointed day.
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(4) There shall be payable by the Land Commission to the person or persons entitled to receive the same a sum equal to the amount to be collected as payment in lieu of rent, from the gale day next preceding the date of the passing of this Act up to the appointed day, less income tax and such deduction towards cost of such collection as the Land Commission shall consider reasonable and proper. This sum, less such deductions as aforesaid, shall be paid in equal half-yearly instalments and in accordance with rules made by the Land Commission.
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(5) If the interest of any person entitled to receive the rent of a holding or holdings shall not be sufficient to constitute him a person having power to sell to tenants under the Land Purchase Acts, any rent payable by him to the next superior landlord in respect of the holding or holdings shall be reduced by 25 per cent., and, if necessary for the purpose of ascertaining the rent payable by such person in respect of the lands comprised in the holding or holdings, any rent payable by him shall be apportioned by the Land Commission as the justice of the case may require. Similar provisions shall apply and proportionate reductions shall be made in the case of any superior rents payable by any superior landlords who have not an interest sufficient to constitute them persons entitled to sell under the Land Purchase Acts.
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