Land Act, 1965
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Advances for purchase of land by persons in congested areas. |
5.—(1) The Land Commission may, in accordance with regulations under this section, make an advance to a qualified person in connection with the purchase by him of land. | |
(2) (a) The Minister may, with the consent of the Minister for Finance, make regulations for the purpose of giving effect to this section and any such regulations may include such supplemental or incidental provisions as appear to the Minister to be expedient. | ||
(b) Regulations under this section may, in particular but without prejudice to the generality of paragraph (a) of this subsection, make provision in relation to all or any of the following matters— | ||
(i) the charging of the advance on the land, whether by charging order made by the Land Commission or otherwise; | ||
(ii) the obtaining by the Land Commission of security, whether by charge or otherwise, for an advance under this section; | ||
(iii) the amount of an advance under this section; | ||
(iv) the method of repayment of an advance under this section; | ||
(v) the payment of interest on an advance under this section; | ||
(vi) the payment by a qualified person to the Land Commission of a fee or fees for an inspection or inspections deemed necessary by the Land Commission in respect of an application for an advance under this section; | ||
(vii) the application of such existing provisions in the Land Purchase Acts or the Land Reclamation Act, 1949 , as the Minister deems necessary, relating to vesting of land and to the apportionment, consolidation, charging and recovery of advances under this section and the adaptation where necessary of references in such provisions. | ||
(3) (a) Stamp duty shall not be chargeable on any instrument made for the purpose of this section. | ||
(b) No fee or other payment shall be charged or imposed by the Registry of Deeds in respect of any document which is necessary for or in relation to an advance under this section. | ||
(4) In this section— | ||
“qualified person” means a person (including a joint owner or tenant in common) to whom in the opinion of the Land Commission an advance ought to be made and who is the tenant or proprietor of a holding which is— | ||
(a) situate in a congested area, | ||
(b) suitable, in the opinion of the Land Commission, for land settlement purposes, and | ||
(c) agreed to be sold to the Land Commission within such period as is specified in regulations under this section. |