|
|
The price of land.
|
25.—(1) As respects tenanted land the price of each holding shall be a capital sum, hereinafter called “the standard price,” of such amount that interest thereon at the rate of 4¾ per cent. per annum will be equal to the standard purchase annuity for the holding as ascertained in accordance with the first schedule to this Act together with a contribution by the State to the price calculated at 10 per cent. on, and added to, the standard price.
|
|
| |
(2) As regards untenanted land the price shall, in default of agreement, be such an amount as may be fixed by the Land Commission (other than the Judicial Commissioner), or by the Judicial Commissioner on appeal from the Land Commission, and in fixing such sum regard shall be had to the fair value of the land to the Land Commission and the owner respectively.
|
