Assessionable Manors Award Act 1848

IV Fines taken on Lease, &c. of Mines to be invested for the permanent Benefit of the Duchy, or applied to the general Improvement of the Duchy Property, under 7 & 8 Vict. c. 65.

Provided always, and be it enacted, That all Fines hereafter taken or required on any such Lease or Grant of Mines, Minerals, or Tolls, Dues, or Royalties, in respect of Mines or Minerals, Parcel of the said Duchy, shall be received by the Receiver General of the Duchy, and after Deduction thereout of all Expenses incidental to the making of such Lease or Grant, or so much thereof as shall not be paid by the Lessees or Grantees, be paid into the Bank of England to the Account of the Duke of Cornwall; and all Monies so received and paid shall be from Time to Time, as soon as conveniently may be, laid out in the Purchase of Three Pounds per Centum Bank Annuities in the Name of the Duke of Cornwall, and for the permanent Benefit of the Duchy, and the Dividends of the Stock so purchased shall be paid by the Governor and Company of the Bank of England to the said Receiver General, to the Use of the Duke of Cornwall, and be deemed and taken to be Part of the ordinary Revenues of the Duchy: Provided nevertheless, that during the Minority of His Royal Highness the present Duke of Cornwall all Monies so received and paid, and the Stock so purchased, shall be subject to be applied, appropriated, sold out, and dealt with by the Council of His Royal Highness as if the same had been Monies received and Stock purchased under the Authority of an Act passed in the Session of Parliament holden in the Seventh and Eighth Years of the Reign of Her present Majesty, intituled An Act to enable the Council of His Royal Highness Albert Edward Prince of Wales to sell and exchange Lands and enfranchise Copyholds, Parcel of the Possessions of the Duchy of Cornwall, to purchase other Lands, and for other Purposes.