Land Bond Act, 1992
|
Supplemental provisions to sections 4 and 5 . |
6.—(1) Section 1 of the Act of 1923 (as amended by section 3 of the Land Bond Act, 1925 ) is hereby amended by the deletion, in subsection (4), of “Any sums so paid out of the Central Fund shall be treated as a temporary advance to the Land Bond Fund, and shall be made good out of the Guarantee Fund.”. | |
(2) Section 4 of the Land Bond Act, 1933 , is hereby amended by the substitution for subsections (7) and (8) of the following: | ||
“(7) The interest on new land bonds and the sums required for the redemption thereof under this section shall be paid out of the Central Fund and the growing produce thereof and shall be treated as non-repayable advances.”. | ||
(3) Section 7 of the Land Bond Act, 1934 , is hereby amended by the substitution for subsections (5) and (6) of the following: | ||
“(5) The interest on land bonds created and issued under this Act and the sums required for the redemption of such land bonds shall be paid out of the Central Fund and the growing produce thereof and shall be treated as non-repayable advances.”. | ||
(4) This section shall come into operation— | ||
(a) in so far as it relates to the Guarantee Fund, on the day on which section 4 of this Act comes into operation by virtue of an order made by the Minister under subsection (3) of that section, | ||
(b) in so far as it relates to the Land Bond Fund, on the day on which section 5 of this Act comes into operation by virtue of an order made by the Minister under subsection (3) of that section. |