HC Deb 28 July 1896 vol 43 cc918-9

In the case of any advance offer the commencement of this Act for the purchase of a holding purchaser's insurance money shall not be payable.

MR. MAURICE HEALY moved, after the word "holding," to insert the words— and also in the case of any instalment of a purchase annuity which shall become payable after the passing of this Act. It was, he said, a total mistake that it would make any trouble to calculate the annuities, because all they would have to find out would be how much 4 per cent. of the purchase money was. The number of cases would be small. The Land Commission had practically nullified the purchaser's insurance clause, and so fixed the fair value as to prevent the purchaser's insurance provisions having any operation at ail. It was all the more unjust that in the limited number of cases this unfair state of the law should prevail.


As the Land Commission, have given us a great deal of trouble, we return the compliment. [Laughter.]


It is merely a question of trouble. On the question of principle I think the hon. Gentleman is right, and, therefore, the Government will accept the Amendment.

Amendment agreed to.

MR. MAURICE HEALY moved at the end of the clause to add— In the case of a purchase annuity payable at the date of the commencement of this Act, the amount of the purchase annuity as from the date of such commencement shall he certified by the Land Commission, and sent by them for registration to the registration authority under The Local Registration of Title (Ireland) Act, 1891.

Amendment agreed to.

Clause 21,—