asked the Minister for Lands and Fisheries if he will state if it is the intention of the Government, in cases where annuitants so desire (a) to fund the land annuities due 1st May and 1st June, 1932, 1st November and 1st December, 1932, and 1st May and 1st June, 1933, at the rate of 4½ per cent. per annum for a period of 50 years; (b) if the 4½ per cent. will cover both interest and sinking fund on the amount funded or what will be the total rate of annual payment; (c) if the amount so funded will be kept separate and distinct from the amount originally advanced and redeemable at any time the annuitant is in a position to do so.
Ceisteanna—Questions. Oral Answers. - Funding of Land Annuities.
The answer to the first part of the question is in the affirmative. With regard to the second part, the half-yearly instalment of the funding annuity covering interest at 4½ per cent., plus sinking fund, will be £2 10s. 6d. per £100 of the arrears. The funding annuity will be consolidated with the existing annuity.
It will be open to a tenant purchaser to redeem at any time the whole or part of the funding annuity.