§ (1) Where stock is created for the purposes of the Land Purchase Acts, and issued under conditions which provide that the money to be raised thereby shall be paid up by instalments, dividends may be
1534§ paid on the total nominal amount of the stock from any date fixed at the time of issue, although the instalments, or some or one of them, may not have been payable until after that date; and if the amount so paid by way of dividend exceeds the sum which would have been payable on the portion of the stock representing the money actually paid up, the difference shall be treated as part of the expenses of the issue of the stock.
§ (2) This section shall apply to any stock created and issued since the first day of July, nineteen hundred and eight, as well as to stock issued after the passing of this Act.
§ Clause agreed to.