The purpose of this Bill, which was prepared at the instance of the previous Taoiseach, is to repeal the Mortmain Acts. Senators will have copies of the Explanatory Memorandum which was circulated with the Bill, so that I do not think I need say very much on the provisions of the Bill.
The Mortmain Acts are now for all practical purposes obsolete and the only instance where they arise is in regard to the granting of licences to foreign corporations to hold land. These licences are granted from time to time as of course. Any alien may acquire land in his private capacity so that if a foreign corporation desires to acquire land, it can in effect do so by taking the land in the individual names of the members of the corporation or by forming a joint stock company in this country. Even where a foreign corporation purchases land in the name of the corporation, the Irish Mortmain Act of 1792 simply provides that the land shall be forfeited to the State. Alienation in mortmain does not vest the land in the State. It merely gives the State a right to enter on the land but to complete the title of the State entry is essential, and, until entry is made, the corporation may retain the land. It is extremely doubtful if any machinery could be devised under the existing law whereby the State could effect its rights of entry. For that reason the Mortmain Acts do not provide a proper and enforceable remedy where a foreign corporation acquires land without a licence under the 1792 Act.
I recommend the Bill to the House. The Mortmain Acts were originally measures against religious corporations. We have no longer any such corporations in this country. Under the Constitution every religious denomination has the right to own, acquire and administer property. Ordinary business corporations are dealt with under the Companies Acts.