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For the purpose of providing for the remission to tenants of holdings vested in the Commission by virtue of this Part of this Act of one-half year's rent thereof the following provisions shall have effect:—
(a)Subject to the provisions of paragraph (b) of this section there shall, in accordance with rules made by the Treasury under Part I. of this Act, be deducted from the interest payable by the tenant under section thirty-five of the Land Law (Ireland) Act, 1896, such an amount as is equal to the half-year's rent due on the gale day last preceding the appointed day; and there shall be similarly deducted from the interest payable to the person to whom interest is payable under subsection (2) of section eighteen of the Act of 1903 a corresponding amount:
Provided that the Commission shall pay to such last-mentioned person, or as he may direct, one-half of the amount so deducted from the interest payable to him:
(b)Where it is shown to the satisfaction of the Commission that the tenant has not before the appointed day paid the half-year's rent due on the gale day last preceding the appointed day, then paragraph (a) shall not apply, but the said half-year's rent shall not be payable, and all liability for payment thereof by the tenant shall be extinguished, and there shall be paid by the Commission to the person who, but for this paragraph, would have been entitled to receive such rent an amount equal to one-half of the rent so remitted :
(c)Any payments made by the Commission under this section shall be treated as part of the expenses of the Commission.
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