Duchy of Lancaster Act 1817

XXV Chancellor and Council of the Duchy of Lancaster may sell Part of their Funded Stock, and apply the Money towards the Improvement of the Lands, &c. belonging to the said Duchy. E+W+S+N.I.

And whereas there are certain Sums or Funds standing in the Books of the Governor and Company of the Bank of England, in the Three Pounds per Centum Consolidated Annuities, in the Name or to the Account of the Duchy of Lancaster, which have arisen and been produced by Sales of certain Parts of the Possessions of the said Duchy, and it will tend to the Improvement of other Parts of the Possessions of the said Duchy if a sufficient Part of the said Bank Annuities was sold, and the Produce thereof applied in the Manner and for the Purposes hereinafter mentioned;

It shall and may be lawful to and for the Chancellor and Council of the Duchy of Lancaster, by any Order or Orders to be made in Court of Revenue of the said Duchy, from Time to Time to order or direct that any Part or Parts of the Three Pounds per Cent. Consolidated Annuities now standing or which may hereafter stand in the Books of the Governor and Company of the Bank of England, in the Name or to the Account of the Duchy of Lancaster, shall be sold and disposed of; and that the Monies arising by any such Sale or Sales shall be applied and appropriated in or towards Payment, Satisfaction, and Discharge of any Sum or Sums of Money or Expences which shall be incurred in the Division, Inclosure, Drainage, Embankment, or other Improvement of any Messuages, Lands, or Tenements belonging to His Majesty, His Heirs or Successors, in Right of His said Duchy, which shall be certified by the Surveyor General of the said Duchy upon Oath, to be filed in the Duchy Office, to be proper, necessary, advantageous, and beneficial to His Majesty’s said Possessions; and the Governor and Company of the Bank of Englandshall and they are hereby authorized and required, upon Requisition to them for that Purpose to be made by any Order or Orders of the said Chancellor and Council, and 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 empowered for that Purpose to make any Sale or Sales, Transfer or Transfers of all or any Part of the said Bank Annuities which now do or shall hereafter stand in the Books of the said Governor and Company in the Name or to the Account of the Duchy of Lancaster; and which Sale or Sales, Transfer or Transfers, being made by the Person so to be authorized 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 Sale or Transfer of the said Annuities; any Thing in any Act or Acts of Parliament, or any Practice, Usage, or Custom to the contrary notwithstanding.

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Modifications etc. (not altering text)

C1 S. 25 amended by Agricultural Holdings Act 1986 (c. 5, SIF 2:3), ss. 95(4), 99(1), Sch. 13 paras. 1(1), 2, 3

C2 S. 25 extended by Coast Protection Act 1949 (c. 74), s. 11(2)(c), Landlord and Tenant Act 1954 (c. 56), Sch. 8 para. 4 and Land Commission Act 1967 (c. 1), s. 75(4)

S. 25 extended (E.W.) (1.9.1995) by 1995 c. 8, ss. 37(5), 41(2) (with s. 37)

S. 25 extended (30.9.2003 for E., 30.3.2004 for W.) by 2002 c. 15, ss. 108(3), 181(1); S.I. 2003/1986, art. 2(a); S.I. 2004/669, art. 2(a)

S. 25 extended (30.9.2003 for E., 30.3.2004 for W. for certain purposes and 31.5.2005 for W. for further purposes) by 2002 c. 15, ss. 172(4), 181(1); S.I. 2003/1986, art. 2(c)(ii) (subject to Sch. 2 of the commencing order); S.I. 2004/669, art. 2(c)(ii) (with Sch. 2); S.I. 2005/1353, art. 2(h) (subject to art. 3)