S.I. No. 42/1956 - Agricultural Credit Act, 1947 (Sections 26 and 29 - Forms) Regulations, 1956.

I, JAMES EVERETT, Minister for Justice, in exercise of the power conferred on me by sections 26 and 29 of the Agricultural Credit Act, 1947 (No. 14 of 1947), hereby make the following regulations :—

1. These regulations may be cited as the Agricultural Credit Act, 1947 (Sections 26 and 29—Forms) Regulations, 1956.

2. An order under section 26 of the Agricultural Credit Act, 1947 , or under that section as applied by section 29 of the act, requiring the seizure of stock comprised in a chattel mortgage at the instance of the mortgagee shall be in the appropriate form set out in the Schedule to these Regulations.

3. The Agricultural Credit Act, 1947 (Section 26 (1)—Forms) Regulations, 1954 ( S.I. No. 269 of 1954 ), are hereby revoked.

SCHEDULE.

Form No. 1.

AGRICULTURAL CREDIT ACT, 1947 .

IN THE MATTER OF a Specific Chattel Mortgage dated the day of , 19 , made between of (being the recognised borrower), of the one part, and (being the recognised lender), of the other part, and registered in the Register of Chattel Mortgages at the Circuit Court Office at on the day of , 19 and at the Circuit Court Office at on the day of 19 .*

*Delete if inapplicable.

TO :

SHERIFF*

*Delete whichever is inapplicable.

OF THE COUNTY OF

COUNTY REGISTRAR*

WHEREAS

of

being the*

is the mortgagor under the said chattel mortgage :

*Here specify the capacity in which the person named is the mortgagor as defined in section 21 of the Agricultural Credit Act, 1947 .

AND WHEREAS—

the principal moneys secured by the mortgage or part of such moneys or interest thereon remained unpaid for fourteen days after the day appointed by the mortgage for payment thereof*

and*

a breach of a covenant or condition contained in the mortgage has been committed by the mortgagor* :

* Delete if inapplicable.

AND WHEREAS the recognised lender hereby certifies that the sum of £ is now due on foot of the mortgage :

NOW THEREFORE you are hereby authorised and required to proceed in accordance with subsection (1) of section 26s of the Agricultural Credit Act, 1947 , that is to say—

(a) as soon as may be, to seize and remove from the custody of any person (other than a bona fide purchaser for value without notice of the mortgage) and from any place (other than land or premises belonging to such purchaser) within the County*/County Borough* of all or any of the stock comprised in the mortgage, particulars of which are given in the schedule hereto, and

*Delete whichever is inapplicable

(b) upon such seizure, with all convenient speed to cause the stock so seized to be sold, and to apply the proceeds of such sale in or towards the discharge of expenses, fees and costs of such seizure and sale and of the sum certified herein to be due on foot of the mortgage, together with interest on the said sum at the rate of three pounds per cent per annum from the date hereof to the date of the seizure, and to pay the surplus (if any) of such proceeds to the mortgagor.

SCHEDULE.

PART 1.

Identification of land to which mortgage relates.

PART 2.

Particulars of stock.

Present when the Seal of the

Recognised Lender was affixed

hereto :

Dated this day of , 19 .

Form No. 2.

AGRICULTURAL CREDIT ACT, 1947 .

IN THE MATTER OF a Floating Chattel Mortgage dated the day of , 19 , made between of (being the recognised borrower), of the one part, and (being the recognised lender), of the other part, and registered in the Register of Chattel Mortgages at the Circuit Court Office at on the day of 19 and at the Circuit Court Office at on the day of , 19 .*

*Delete if inapplicable.

TO :

SHERIFF* 

*Delete whichever is inapplicable.

OF THE COUNTY OF 

COUNTY REGISTRAR*

WHEREAS 

of 

being the*

is the mortgagor under the said chattel mortgage :

*Here specify the capacity in which the person named is the mortgagor as defined in section 21 of the Agricultural Credit Act, 1947 .

AND WHEREAS—

(a) *(i) the principal moneys secured by the mortgage or part of such moneys remained unpaid for twenty-eight days after the date appointed by the mortgage for payment thereof, and

*(ii) some interest secured by the mortgage was in arrear and unpaid for fifty-six days after becoming due, and

*(iii) there has been a breach (by commission or omission) by the mortgagor of some provision (other than a covenant for payment of the principal moneys or interest secured thereby) contained in the mortgage or implied therein by virtue of subsection (1) of section 28 of the Agricultural Credit Act, 1947 , and

(b) the recognised lender served on the mortgagor on the day of , 19 , a notice in writing declaring that the mortgage had become fixed, and

*Delete if inapplicable.

(c) the recognised lender had, before service of the notice, taken an inventory of the stock then on the land to which the mortgage relates (being the land identified in the Schedule hereto), and

(d) the recognised lender, within seven days after the day on which such notice was served, sent by registered post to the Circuit Court Office*/Offices* where the mortgage is registered a true copy of the notice and of the inventory :

*Delete whichever is inapplicable.

WHEREBY in virtue of section 29 of the said Act of 1947, for the purposes of that Act, the mortgage, with effect as on and from the date of the service of the notice, has become and is fixed and operates and has effect as a specific chattel mortgage of all stock which was on the land at the time of the service of the said notice and sections 25 and 26 of the said Act of 1947 apply accordingly :

AND WHEREAS the recognised lender hereby certifies that the sum of £ is now due on foot of the mortgage :

AND WHEREAS the stock specified in the schedule hereto (being the stock specified and similarly described in the inventory) is the stock particulars of which are or are to be entered in the Register of Chattel Mortgages pursuant to subsection (1) of section 29 of the said Act of 1947 :

AND WHEREAS it is provided by the said section 29 that the entry so made in the Register shall, until the contrary is proved, be evidence in any proceedings that the stock, particulars of which are so entered, was on the land on the date on which the notice was served :

NOW THEREFORE you are hereby authorised and required to proceed in accordance with subsection (1) of section 26 of the said Act of 1947, that is to say—

(a) as soon as may be, to seize and remove from the custody of any person (other than a bona fide purchaser for value without notice of the mortgage) and from any place (other than land or premises belonging to such purchaser) within the County*/County Borough* of all or any of the stock comprised in the mortgage, particulars of which are given in the schedule hereto, and

(b) upon such seizure, with all convenient speed to cause the stock so seized to be sold, and to apply the proceeds of such sale in or towards the discharge of expenses, fees and costs of such seizure and sale and of the sum certified herein to be due on foot of the mortgage, together with interest on the said sum at the rate of three pounds per cent. per annum from the date hereof to the date of the seizure, and to pay the surplus (if any) of such proceeds to the mortgagor.

*Delete whichever is inapplicable.

SCHEDULE.

PART 1.

Identification of land to which mortgage relates.

PART 2.

Particulars of stock.

Present when the Seal of the

Recognised Lender was affixed

hereto :

Dated this day of , 19 .

GIVEN under my Official Seal, this 8th day of March, 1956.

JAMES EVERETT,

Minister for Justice.