asked the Minister for Lands when the annuities under the Land Act 1885 and other subsequent Acts will terminate.
Ceisteanna—Questions. Oral Answers. - Land Annuities.
17.
The period of repayment of land purchase annuities is subject to variation—being dependent on such factors as (a) the financial terms of the Act under which the advance was made; (b) consolidation with other annuities; (c) the addition of funding annuities under the Land Act, 1933 and (d) the charging of additional annuties in repayment of improvement or reclamation advances.
Subject to the foregoing, particulars of the basic repayment period of annuities under the various Land Acts since 1881 are set out in a tabular statement which I propose, with your permission, a Cheann Comhairle, to circulate with the Official Report.
Following is the statement:
BASIC Repayment Period of Annuties under Land Acts, 1881-1965.
|
Acts |
Repayment Period |
Notes |
|
1881-1889 |
49 years |
The provision for decadal revision introduced by Sec. 25, Land Act, 1896, had the effect of extending the period of repayment and, where the maximum of 3 such revisions was sought by landowners (as happened in the great majority of cases), the term of repayment became 79 years from the date of the advance, viz. 49 years from the date of the last decadal revision. |
|
1891-1896 |
42½ years if the full purchase money was advanced |
The repayment period was extended to 72½ years or 75½ years by the acceptance of 3 decadal revisions. |
|
or |
||
|
45½ years where only 3/4th of the purchase money was advanced. |
||
|
1903 |
68½ years. |
|
|
1909 |
65½ years. |
|
|
1923-1965 |
Ranges from 33½ years to 66½ years. |
The repayment period varies according to the denomination of lands bonds employed to finance purchase or vesting. The bulk of advances made for the purchase of tenanted land were in 4½% bonds, with a repayment period of 66½ years, commencing in the main in 1931. |