Public Works Loans Act, 1892

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PUBLIC WORKS LOANS ACT 1892

CHAPTER LXI.

An Act to grant Money for the purpose of certain Local Loans, and for other purposes relating to Local Loans.[¹] [28th June 1892.]

[S. 1 rep. 8 Edw. 7. c. 49 (S.L.R.).]

Reduction of minimum rate of interest on loans.

38 & 39 Vict. c. 89.

42 & 43 Vict. c. 77.

2. Section ten of the Public Works Loans Act, 1875, and section two of the Public Works Loans Act, 1879 (which sections fix the minimum rate of interest on loans), shall, in their application to loans granted after the passing of this Act, have effect as if [²] four per cent. were therein substituted for five per cent.

[S. 3 rep. 8 Edw. 7. c. 49 (S.L.R.).]

Transfer of powers as to Irish Reproductive Loan Fund and Sea and Coast Fisheries Fund.

54 & 55 Vict. c. 48.

4. [Preamble recites that the Irish Reproductive Loan Fund and the Sea and Coast Fisheries Fund, except the sum of [³] 20,000l., were placed at the disposal of the Congested Districts Board by 54 & 55 Vict. c. 48, s. 35.] The Congested Districts Board for Ireland shall have and may exercise for the recovery of any money due on foot of loans made by them out of the funds aforesaid or otherwise payable on foot thereof all such powers and remedies as are possessed in that behalf by the Commissioners of Public Works in Ireland, and a certificate under the hand of the secretary to the said Board stating the amount due in respect of any such loan together with interest thereon and any costs and charges in respect of any such loan or the recovery thereof shall have the same effect as a like certificate under the seal of the said Commissioners.

Power to alter redemption tables in 48 & 49 Vict. c. 73.

5. The rules made by the Treasury under the Purchase of Land (Ireland) Act, 1891, may prescribe [⁴] tables for the redemption of annuities in substitution for the tables in the schedule to the Purchase of Land (Ireland) Act, 1885, and the tables so substituted shall, as from the passing of the last-mentioned Act, have effect as if they had been contained in the said schedule.

[S. 6 rep. 60 & 61 Vict. c. 51, s. 12 (4).]

Enforcement of order for sale under 10 & 11 Vict. c. 32. s. 49.

7. Where the High Court in pursuance of section forty-nine of the Landed Property Improvement (Ireland) Act, 1847, makes an order for the sale of lands charged with a rentcharge, the Court may, on the application of the secretary to the Commissioners of Public Works in Ireland, or of other officer authorised by them in their behalf, or of the purchaser, order the sheriff to put the purchaser in possession of all or any of the lands sold not in the occupation of lessees, under-lessees, or tenants subject to whose leases, under-leases, or tenancies the sale has been made, and who have attorned to the purchaser within a time to be limited by the order, and the order shall be executed by the sheriff in like manner as a writ for the delivery of possession.

Incorporation of Commissioners of Public Works.

8. The Commissioners of Public Works in Ireland shall be a body corporate by that name with perpetual succession and a common seal, and power to hold land for the purposes of their duties, and all contracts or securities heretofore made with or given by them or their secretary, or any person on their behalf, shall be deemed to be made with or given to them as such body corporate, and not otherwise.

Short title.

9. This Act may be cited as the Public Works Loans Act, 1892.

[Sched. rep. 8 Edw. 7. c. 49 (S.L.R.).]

[¹ Short title, “The Public Works Loans Act, 1892”; see s. 9.]

[² For power to accept 3¼ per cent. in certain cases of loans for canal improvements, see 59 & 60 Vict. c. 42, s. 2. As to reduction of interest on loans on security of local rates, see 60 & 61 Vict. c. 51, s. 1.]

[³ As to this 20,000l., see 62 & 63 Vict. c. 50, s. 15 (c).]

[⁴ See tables prescribed, Stat. Rules and Orders, Rev., 1904, VII., “Landlord and Tenant, I.,” p. 167.]