asked the Minister for Lands the reason for the abolition of the ten-year receivable order receipt for land annuities; and if there is any change in the method of payment of such annuities.
Ceisteanna—Questions. Oral Answers. - Land Annuities.
31.
Because of the decision to decimalise the currency, and having regard to the computerisation of the work, it became necessary to reassess the method of collecting annuities. The ten-year receivable order did not fit easily into the new system of processing payments by computer, nor did it meet the requirements of new machines introduced by the banks. In addition, each ten-year receivable order would have had to be amended, by hand, to show the decimal equivalent of the half-yearly instalment.
Accordingly it was decided that the issue of a half-yearly demand which could more efficiently be processed by the computer would best meet future requirements. There is no basic change in the method of payment of annuities. In the case of a payment made through a bank the counterfoil portion of the new demand will be completed by the bank and returned to the payer, as his receipt, at the time of payment.
(Cavan): In order to facilitate payers and others would the Minister consider adhering to the old practice of giving the folio number on these new receivable orders? The Minister will know what a convenience that would be.
Yes, indeed, I will.