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Repayment of advances.
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9.—(1) Subject to the provisions of this Act every advance made in pursuance of a subsequent purchase agreement shall be repaid, in the manner and at the times prescribed by the Minister for Finance, by means of a purchase annuity calculated at the rate of 4¾ per cent. on the amount thereof.
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(2) The purchase annuity shall be paid until the whole of the advance in respect of which it is payable is ascertained in manner prescribed by the Minister for Finance to have been repaid.
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(3) The provisions of the Provisional Government (Transfer of Functions) Order, 1922, shall not apply to purchase annuities payable in respect of advances made under this Act.
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(4) The purchase annuity or any part thereof at any time outstanding may be redeemed in whole or in part by the person liable to pay that annuity by payment to the Land Commission in cash of such amount as shall be ascertained in accordance with Rules made by the Minister for Finance.
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