Tithe Rentcharge. 



[mar., 



holding where the necessary buildings exist, it would be a 

 distinct advantage if they could be carried on in connection 

 with a Farm Institute, where there would be better facilities 

 for demonstration work, and the Station could be run more 

 economically. 



TITHE RENTCHARGE. 



Redemption by an Annuity.— The Tithe Act, 191 8, gave land- 

 owners who desire to redeem the tithe rentcharge on their 

 land the option of paying the consideration either in cash 

 or, under certain conditions, by means of an annuity. The 

 amount of the annuity has to be calculated in the following 

 manner. To interest not exceeding 5 per cent, per annum 

 on the consideration money is to be added such sum as 

 would be sufficient, if the periodical payments thereof 

 were accumulated at compound interest at a rate not 

 exceeding 4 per cent, per anmmi, to produce an amount equal 

 to the consideration money at the end of the said period. 

 The total of these two sums will give the amount of the yearly 

 or half-yearly pajrment of the annuity as the case may be. 

 In an average case the amount of the annuity for 50 years 

 required under the Act to discharge the consideration for 

 redemption of £100 tithe rentcharge, if attached to a benefice, 

 would be about £104, and if not attached to a benefice, would be 

 about £91. In this connection it may be noted that the sum 

 payable under the Tithe Act, 1918, in respect of every £100 

 tithe rentcharge which becomes due on or before the ist 

 January, 1926 is £109 35. ud., and that after that date the sum 

 payable is to vary from year to year in accordance with the 

 average prices of wheat, barley and oats for the fifteen preceding 

 years. 



It is important to note that under the Tithe Act, 1918, the 

 Minister's power to determine, on the sole appHcation of the 

 landowner, that the consideration for redemption shall be paid 

 by an annuity, is Hmited to applications made on or before the 

 1st January, 1 921. Henceforward the consent of the tithe owner 

 to redemption by annuity, instead of by a cash payment, will 

 also be necessary. Moreover, in some instances, landowners 

 will doubtless find that their land forms part only of an area 

 charged with tithe rentcharge, so that an altered apportionment 

 will be necessary before an application for redemption can be 

 lodged. In such cases application for altered apportionment 



