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Debentures on unincumbered Land.
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9. In the Case of unincumbered Land no Debenture shall be charged for such a Principal Sum as, either solely or together with the Amount of the Principal Sum or Sums charged on the same Land by virtue of any other Debenture or Debentures, shall be more than Ten Times the Sum which may appear to the Court to be the yearly Value of such Land, not exceeding, in any Case, the Value fixed by the Public Valuation of Lands in Ireland, having regard, amongst other Matters, to any Lease then affecting the same; nor shall there be reserved by any Debenture upon such unincumbered Land Interest of such annual Amount as, either solely or together with the annual Interest reserved and charged by any other Debenture or Debentures upon the same Land, shall exceed One Half of what may appear to the Court to be its yearly Value as aforesaid.
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