HC Deb 28 February 1910 vol 14 cc584-5

asked the Chief Secretary if he will state the total amount of advances applied for under agreements for purchase since the passing of the Land Act, 1909, at the higher rate of interest prescribed by that Act, the total amount applied for in the equivalent period prior to the passing of the Act of 1909, and from what counties and by what landlords were such applications lodged?


The Land Act of 1909 was passed on 3rd December last. In the months of September, October, and November, 1909, 2,504 purchase agreements in the form prescribed under the Act of 1903 were lodged, representing a purchase money of £750,720. Of these agreements, 2,125, representing £625,206, were not lodged until after the 15th of September. 1909, the date mentioned in Section 13 (a) of the Act of 1909, and as they are not, therefore, "pending purchase agreements" to be financed under the Act of 1903, they have been returned to be amended in accordance with the new Act or to be replaced by new agreements. In the months of December, January, and February (to 25th) 137 purchase agreements, representing £37,755, repayable by 3½ per cent. annuities, have been lodged. They have not yet been classified by counties or estates. As regards the period since the passing of the Act of 1909, it should be explained that the Act required the preparation of new regulations and rules as to procedure, some of which have been made and issued recently, while others are still under consideration.