Authority under a title of Revisable Perpetual Emphyteusis

L.N. 249 of 2020

GOVERNMENT LANDS ACT

(CAP. 573)

Redemption of Land belonging to the Government or to the Lands

Authority under a title of Revisable Perpetual Emphyteusis

(Amendment) Regulations, 2020

IN EXERCISE of the powers conferred by item (L) of article

31(g) of the Government Lands Act, the Minister for Transport,

Infrastructure and Capital Projects has made the following

regulations:-

The title of these regulations is the Redemption of Land Citation.

belonging to the Government or to the Lands Authority under a Title

of Revisable Perpetual Emphyteusis (Amendment) Regulations, 2020

and these regulations shall be read and construed as one with the

Redemption of Land belonging to the Government or to the Lands S.L. 573. 07.

Authority under a Title of Revisable Perpetual Emphyteusis

Regulations, hereinafter referred to as the "principal regulations".

Sub-regulation (2) of regulation 6 of the principal Amends

regulations shall be substituted by the following new sub-regulation: regulation

the principal

regulations.

"(2) The sum to be paid for the redemption of the

perpetual and revisable ground rent shall be equal to the amount

of the ground rent in force adjusted according to the index of

inflation taken from the year preceding the submission of the

application pursuant to these regulations and the index of

inflation taken from the year prior to the creation of the contract

of perpetual emphyteusis capitalised at the rate of five per cent

(5%).

If the contract had already been subject to revision, the

redemption of the perpetual and revisable ground rent shall be

equal to the amount of the ground rent in force adjusted

according to the index of inflation taken from the year preceding

the last revision capitalised at the rate of five per cent (5%).

This sub-regulation shall apply irrespective of the method

used to revise the perpetual ground rent.".

Amends

Regulation 9 of the principal regulations shall be amended regulation 9 of

the principal

as follows

regulations.

(a)

paragraph (e) thereof shall be deleted; and

(b) paragraphs (f) and (g) thereof shall be renumbered as

paragraphs (e) and (f) respectively.

€0.18