S.I. No. 433/1948 - Land Bond Order, 1948.

S.I. No. 433 of 1948.

LAND BOND ORDER, 1948.

The Minister for Finance, in exercise of the powers conferred on him by section 4 of the Land Bond Act, 1934 (No. 11 of 1934), and section 4 of the Land Act, 1936 (No. 41 of 1936), and of every and any other power him in this behalf enabling, hereby orders as follows :—

1 Short title and collective citation.

1. (1) This Order may be cited as the Land Bond Order, 1948.

(2) This Order and the Land Bond Orders, 1934 to 1947, may be cited together as the Land Bond Orders, 1934 to 1948.

2 Interpretation.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to this Order.

3 Creation of a series of land bonds.

3. A series of land bonds is hereby created of the total amount of forty thousand pounds to be known as three per cent. land bonds.

4 Denominations of the land bonds.

4. The denominations in which the series of land bonds created by this Order shall be issued shall be one pound, ten pounds, and one hundred pounds, and no other denominations.

5 Consolidation of series of land bonds.

5. The series of land bonds created by this Order is hereby consolidated with the series of land bonds created by the Land Bond Order, 1945 ( S. R. & O. No. 352 of 1945 ), the Land Bond Order, 1946 ( S. R. & O. No. 396 of 1946 ), and the Land Bond Order, 1947 ( S. R. & O. No. 438 of 1947 ), to the intent that the series of land bonds created by those Orders and the series of land bonds created by this Order shall form one consolidated series of land bonds created under the Land Bond Act, 1934 (No. 11 of 1934), amounting to two hundred and ninety-two thousand pounds and accordingly paragraphs 6 to 11 of the Land Bond Order, 1945, shall apply to the said consolidated series of land bonds in like manner as they apply to the series of land bonds created by that Order.

6 Restriction of consolidated series to amounts fixed in a specified period.

6. The said consolidated series of land bonds shall be for the purpose of making advances and paying purchase moneys the amounts of which are agreed or fixed in the period commencing on the 1st day of January, 1946, and ending on the 31st day of December,1948, except advances required to be made by means of an issue of new land bonds under the Land Bond Act, 1933 (No. 33 of 1933), or of four per cent. land bonds under the Land Bond Act, 1934 (No. 11 of 1934), or of three and one-half per cent. land bonds under the last-mentioned Act.

GIVEN under the Official Seal of the Minister for Finance, this 31st day of December, 1948.

(Signed) J. J. McELLIGOTT,

Secretary,

Department of Finance.