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Arrears and revision of interest in lieu of rent.
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14.—(1) The following provisions shall have effect in relation to the proceedings by the Land Commission for the recovery of any interest in lieu of rent which accrued due on or before the first gale day in the year 1933, that is to say:—
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(a) no such proceedings shall be begun after the passing of this Act;
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(b) any judgment or decree for the payment of any such interest obtained in any such proceeding but not executed before the passing of this Act shall, immediately upon such passing, become and be void and unenforceable;
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(c) no such proceeding which was begun before and is pending at the passing of this Act shall be further prosecuted or proceeded with by the Land Commission after such passing unless a defence was filed or entered in such proceeding before such passing.
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(2) As soon as may be after the passing of this Act, the Land Commission shall ascertain the amount of the arrears of interest in lieu of rent which were due and owing on the 31st day of July, 1933, by each purchasing tenant liable to pay such interest, and the amount of the costs and expenses (if, any) incurred by the Land Commission before the passing of this Act in proceedings (if any) commenced before the 1st day of October, 1932, for the recovery of such arrears, and immediately upon such ascertainment—
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(a) where the amount so ascertained of such arrears does not exceed three times the yearly amount of such interest in lieu of rent, such arrears and the amount so ascertained of the said costs and expenses together with interest at the rate of four and one-half per cent. per annum on the said arrears, costs, and expenses from the first gale day in the year, 1933 shall (if such arrears, costs, and expenses are not otherwise paid before the passing of this Act) be added to the purchase money of the holding when it is vested in the purchaser; and
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(b) in every other case, the amount so ascertained of the said costs and expenses and so much of such arrears as is equal to three times the yearly amount of such interest in lieu of rent together with interest at the rate of four and one-half per cent. per annum on the said costs and expenses and so much as aforesaid of the said arrears from the first gale day in the year 1933 shall (if the said costs and expenses and so much as aforesaid of the said arrears are not otherwise paid before the passing of this Act) be added to the purchase money of the holding when it is vested in the purchaser, and the residue of the said arrears shall not be payable.
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(3) The amount payable by any purchasing tenant in respect of any gale of interest in lieu of rent accruing after the first gale day in the year 1933 shall be 50 per cent. and no more of the full amount of such gale.
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(4) The Land Commission shall, at such times and in such manner as the Minister for Finance shall direct, pay to the several persons entitled thereto the following sums in so far as they shall not have been otherwise paid to such persons, that is tο say:—
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(a) all arrears of interest in lieu of rent proceedings for the recovery of which are prevented by this section from being commenced or from being further prosecuted or proceeded with or a judgment or decree for the payment of which is by this section rendered void; and
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(b) a sum equal to the amount paid by each tenant purchaser in respect of each gale of interest in lieu of rent accruing after the first gale day in the year 1933.
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