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Land Bond Act, 1934

Issue of land bonds created under this Act.

5.—(1) For the purpose of making an advance or paying any purchase money which is required by this Act to be made or paid by means of an issue under this Act of land bonds, there shall be issued as and when required such amount as may be requisite of the series of land bonds created under this Act which is applicable to that purpose.

(2) For the purpose of the calculation of the amount of land bonds to be issued under this section in any particular case, all purchase money and all payments to be made out of purchase money shall be calculated to the nearest pound.