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APPENDIX XX.WRITING OFF OF PURCHASE ANNUITIES ON LANDS SUBMERGED THROUGH COAST EROSION, ETC.Cléireach, An Coiste um Chuntais Phoiblí. At the proceedings of the Public Accounts Committee on 8th May, 1958, I undertook to supply a memorandum on the writing off of purchase annuities on lands which become permanently submerged through coast erosion, etc. The main statutory provisions are contained in section 37, Land Act, 1933. Incidental amendments were effected by section 24, Land Act, 1950. Where a holding has been purchased or is pending for purchase by means of an advance under the Land Purchase Acts and part of the holding becomes permanently submerged, the Land Commission may apportion the purchase annuity (or annual sum), payable by the purchaser in repayment of the advance, as between the land submerged and the balance of the holding. After such date as may be specified by the Land Commission in the Apportionment Order, the purchaser will cease to be liable for the half-yearly instalments in respect of the portion submerged. With the consent of the Minister for Finance the portion of annuity (or annual sum) apportioned to the submerged land is written off as irrecoverable. Similarly, if the entire holding is submerged, there is power to write off the entire annuity (or annual sum). Arrears of annuities and annual sums written off are not a charge on the Guarantee Fund. Deficiencies arising in the Land Bond Fund and Local Loans Fund are made good from Subhead H.4. of the Vote for Lands. A write-off is not feasible where compensation for submergence is payable under an Act of the Oireachtas or where the submergence arises from the fault or neglect of the tenant. These statutory provisions apply equally to vested lands and lands which are pending for vesting. (Signed) T. O’BRIEN, Secretary, Department of Lands. 29 May, 1958. |
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