Duchy of Lancaster Act 1787

Money arisen or to arise by the Sale of the said Rates, may be applied in Satisfaction of any sums charged upon His Majesty’s Lands on Account of Inclosures in the Duchy of Lancaster, &c. Bank to permit any Person authorised by the Chancellor and Council of the said Duchy, to transfer the Stock standing in the Name of the Duchy. Chancellor and Council may retain Money arising by Sale of the Rates to answer Expences. E+W+S

And whereas, by means of several Inclosures or Divisions made of several Common Fields and Waste Lands, lying within and being parcel of the Franchises and Liberties of the said Duchy of Lancaster, under and by virtue of divers Acts of Parliament, several sums of money have been, and do now remain charged upon certain of His Majesty’s Lands and Tenements within the said Franchises and Liberties: And whereas certain other Waste Lands within the said Franchises and Liberties have, by the Authority of Parliament, been lately set out and awarded to His Majesty, and a considerable expence will be necessarily incurred in the inclosing, draining, fencing, building upon, and improving the same: And whereas it is fit and expedient that effectual provision should be made for paying off the said several sums so remaining charged as aforesaid, and for defraying the expences to be incurred in manner last before mentioned; it shall and may be lawful to and for the Chancellor and Council of the said Duchy for the time being, by their Order or Orders to be made in Court of Revenue, to apply and appropriate as well the said four thousand eight hundred and fifty-nine pounds twelve shillings and three-pence, Three per Centum Consolidated Annuities, as also any other monies which may hereafter arise and be received by sale of the said Rents, or by the enfranchisement or discharging of any copyhold or customary messuages, lands, tenements, or hereditaments, under and by virtue of the said recited Act, in payment, satisfaction, and discharge of all such sums of money as have been and are now charged upon any of His Majesty’s Lands or Tenements, being parcel of the possessions of His said Duchy, by reason of any inclosure or division already made by the Authority of Parliament; and of all such charges and expences as shall be at any time hereafter incurred, by and under the order and direction of the Chancellor and Council of the said Duchy, in the division, inclosure, drainage, or other improvement of any allotment or allotments which have been set out or assigned to His Majesty, His Heirs or Successors, by the Authority of Parliament as aforesaid; and in the erecting suitable habitations, and other convenient buildings, for the tenants of such allotment or allotments respectively, in such manner as the said Chancellor and Council shall think fit; and the Directors of the Bank of England for the time being shall, and they are hereby authorised and required, upon requisition to them for that purpose to be made by any Order or Orders of the said Chancellor and Council, under the hand of the Attorney General of the said Duchy, to permit such person as shall in and by such order be named and impowered for that purpose, to make a transfer or transfers of all or any part of the Three per Centum Bank Annuities which now are, or shall hereafter be transferred, or stand in the Books of the Bank in the name of the Duchy of Lancaster; and which transfer or transfers, being made by the person so to be authorised by the signature of his own proper name, for and on the behalf of the King’s Majesty, in right of his Duchy of Lancaster, shall be valid, legal, and effectual for the transfer of the said annuities; and that until the whole of the said charges and expences shall have been raised and paid in the manner aforesaid, it shall and may be lawful to and for the said Chancellorand Council to cause the monies to arise by such sales, enfranchisements, and discharge as aforesaid, to be retained and applied for that purpose, without investing the same in Bank Consolidated Annuities, or other publick funds; any thing in the said recited Act to the contrary notwithstanding.