Land Act, 1933
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Third decadal reductions of purchase annuities. |
25.—(1) Where a purchase annuity would be subject, under section 25 of the Land Law (Ireland) Act, 1896 , to a third decadal reduction but the third decade of such annuity did not expire before the 1st day of May, 1933, such third decade shall be deemed to have expired on the said 1st day of May, 1933, and such annuity shall be and be deemed to have been reduced under the said section 25 in accordance with regulations to be made in that behalf by the Minister for Finance. | |
(2) The provisions of this Part of this Act in relation to the amount payable by the purchaser in respect of instalments of a purchase annuity accruing after the first gale day in the year 1933 shall apply to the reduced amount of an annuity which is reduced under this section as if such reduced amount were the full amount of such annuity. |