CHAPTER I 



SYNOPSIS OF PURCHASE OF LAND 

 (ENGLAND AND WALES) BILL, 1905 



PART I 

 OCCUPYING OWNERSHIP 



Part I. provides means to enable the tenant to 

 acquire the freehold of the farm he rents. When the 

 landlord and tenant may agree for the sale of a farm, 

 and on the price to be paid for the same, the Board of 

 Agriculture may, after making due inquiries, advance 

 to the tenant the whole of the purchase-money. 



The repayment of the advance so made is to be by 

 an annual instalment (purchase annuity) at the rate of 

 3|- (three pounds five shillings) per cent of the whole 

 sum. 



The three pounds five shillings per cent is made up 

 of two pounds fifteen shillings per cent for interest 

 and ten shillings per cent for sinking fund. This 

 sinking fund will in a certain number of years recoup 

 the whole amount advanced, and no further payments 

 will be made. 



The advances and rates of repayment are the same 

 as those accorded to the Irish tenant under the pro- 

 visions of the Irish Land Act, 1903. 



As soon as the agreement for purchase is com- 

 pleted the tenant becomes immediately the owner of 



