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24 1927




Short title.

1. —This Act may be cited as the Agricultural Credit Act, 1927.

Definitions generally.

2. —In this Act—

the expression “the Minister” means the Minister for Finance; the expression “the Corporation” means the Agricultural Credit Corporation, Limited, to be formed and registered in pursuance of this Act;

the expression “the Directors” means the Directors of the Corporation;

the word “agriculture” includes the breeding, rearing or keeping of animals of any kind (including birds and insects), dairying and the pasturing of animals, and cognate words shall be construed accordingly.

the word “farmer” means a person or two or more persons jointly or in common carrying on some form of agriculture on land as a business for profit;

the word “farm” means the land on which the farmer in relation to whom the expression is used carries on his business as farmer;

the word “mortgage” means and includes any instrument by which land is charged with or made liable for or security for the payment of money;

the expression “first mortgage” means a mortgage affecting only land which is not subject to any charge or encumbrance having priority to such mortgage other than terminable land purchase annuities under the Land Purchase Acts, rent-charges in lieu of tithes, or charges created under the Landed Property Improvement (Ireland) Acts, the Drainage and Improvement of Land (Ireland) Acts, 1863 to 1892, or the Drainage Maintenance Acts, 1866 and 1924.