Land Reclamation Act, 1949
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Payment of occupier's contribution by means of annuity. |
3.—(1) This section applies where— | |
(a) the occupier, in accepting the Minister's proposal, informs the Minister that he wishes to pay his contribution by means of an annuity, or | ||
(b) default occurs under subsection (4) of section 2. | ||
(2) In any case to which this section applies, the occupier's contribution shall be charged by the Land Commission in the prescribed manner upon every interest (including the fee simple) in the land upon which the works are agreed to be carried out and all land held therewith by the same tenure or under the same tenancy, and such charge shall have effect as on and from the date upon which the Minister certifies that the works have been completed, and shall be discharged by means of an annuity (in this Act referred to as a reclamation annuity) payable on the prescribed gale days and calculated at the rate of four per cent. per annum. | ||
(3) The charge created under this section shall take priority over all charges and incumbrances, whether statutory or otherwise, except sums payable to the Commissioners of Public Works in Ireland or the Land Commission. | ||
(4) Where land on which a reclamation annuity is charged is or becomes subject to a purchase annuity, the two annuities shall, during the prescribed period, stand consolidated so as to form one purchase annuity. | ||
(5) To avoid doubts, it is hereby declared that neither a reclamation annuity nor that portion of a consolidated annuity which represents a reclamation annuity shall be subject to revision under Part III of the Land Act, 1933 (No. 38 of 1933). | ||
(6) Land subject to the charge created under this section which is being sold or vested by the Land Commission under any statutory power shall be sold or vested subject to the charge. | ||
(7) In every case to which this section applies the Land Commission shall, except in the case of unregistered land subject to a purchase annuity or land held under a temporary agreement with the Land Commission, or land of which the Land Commission is the registered owner, transmit particulars of the charge to the Land Registry or the Registry of Deeds (as the case may require) for registration and no fee or other payment shall be required for registration. | ||
(8) A certificate purporting to be under the common seal of the Land Commission shall be evidence that the land therein described has been duly charged under this section in accordance with the terms of the certificate. |