Land Act, 1929
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Purchase of certain fisheries and fishing rights by Land Commission. |
5.—(1) Where a fishery or fishing right is vested (whether before or after the passing of this Act) in the Land Commission under section 45 of the Land Act, 1923 (No. 42 of 1923), as amended by this Act and another fishery or fishing right (hereinafter referred to as the ancillary fishery or fishing right) which is not so vested is, in the opinion of the Land Commission, necessary for the proper user and enjoyment of the first-mentioned fishery or fishing right, the Land Commission may purchase such ancillary fishery or fishing right for such price, payable in four and one-half per cent. land bonds of equal nominal value, as shall be agreed upon between the Land Commission and the owner of such ancillary fishery or fishing right. | |
(2) The powers conferred on the Minister for Finance by the Land Act, 1923 , as amended and extended by the Land Bond Act, 1925 (No. 25 of 1925), to create and issue four and one-half per cent. land bonds for the purposes of the Land Act, 1923 , are hereby extended so as to include power to create and issue such bonds for the purposes of this section, and the Land Act, 1923 , as so amended and extended and in particular section 17 thereof and rules made under that section shall apply to such bonds created and issued by the Minister for Finance for the purposes of this section in like manner as it applies to such bonds created and issued by the said Minister for the purposes of the Land Act, 1923 . |