An Act to extend the Provision in “The Duchy of Cornwall Management Act 1863,” relating to permanent Improvements.
[25th June 1868]
Whereas by “The Duchy of CornwallM1Management Act 1863,” Section Eight, Advances are authorized to be made out of the Capital Funds of the Duchy of Cornwall, for the Purpose of permanently improving the Possessions thereof, by Inclosure or by erecting Buildings or executing Drainage or other Works thereon, such Advances to be repaid to the Capital from the Revenues of the said Duchy by annual Instalments of not less than One Thirtieth Part thereof in every Year, but subject to a Proviso that the Amount so to be advanced and not repaid shall not at any One Time exceed the Sum of Thirty thousand Pounds:
And whereas the Limitation of such Advances to the Sum of Thirty thousand Pounds mentioned in the said Act prevents the Execution of necessary Works which are essential to the permanent Improvement of the Possessions of the said Duchy, and it is expedient that the same Limitation be rescinded:
And whereas amongst the Possessions of the Duchy of Cornwall there is a large Extent of House Property at present of an inferior Class, in bad Repair, and on which a large Outlay is required, and it is expedient that Power should be given for Advances of Monies out of the Capital Funds of the said Duchy in and towards the Improvement of the same, and it is reasonable that for the Repayment to Capital from the Revenues of the said Duchy of Advances made for the Improvement of such House Property a longer Term than Thirty Years should be allowed:
Modifications etc. (not altering text)
C1Act extended by Duchy of Cornwall Management Act 1982 (c. 47, SIF 29:10), s. 6(3)
C2Short title given by Statute Law Repeals Act 1977 (c. 18), Sch. 3
Marginal Citations
So much of Section Eight in The Duchy of Cornwall Management Act, 1863, as provides that the Amount advanced out of the Capital Funds of the Duchy for the Purpose of permanently improving the Possessions thereof and not repaid shall not at any One Time exceed the Sum of Thirty thousand Pounds shall be and the same is hereby repealed.
Modifications etc. (not altering text)
C3The text of s. 1 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991.
So much of the Capital Funds of the said Duchy as the Lord High Treasurer or the Lords Commissioners of the Treasury for the Time being shall approve of may, with such Sanction and Approval as is by the said Act required for Advances thereby authorized to be made from Capital Monies for the Purpose of Improvements, be from Time to Time advanced and applied in such Manner as the Duke of Cornwall shall think fit for the Improvement of the House Property of the said Duchy and Purposes connected therewith, including the laying out and forming of new Roads, Streets, Sewers, or Drains, and, where required for the Purpose of effecting any such Improvements, the Purchase of any Lease or Leases of any Part or Parts of the Property intended to be so improved which may for the Time being be in existence, and the Advances made under the Authority of this Section shall be a Charge upon and be repaid from the Revenues of the said Duchy to the Account of the Duchy of Cornwall at the Bank of England, by annual Instalments of such Amount, not being less than One Sixtieth Part thereof in every Year, as the said High Treasurer or Lords Commissioners may direct; and it shall be the Duty of the Receiver General of the Duchy of Cornwall and he is hereby required to see that such annual Instalments are paid accordingly; provided that nothing in this Section shall apply to any Farmhouse or other House or Building occupied or used in connexion with or for the Purposes of any agricultural Land.
Modifications etc. (not altering text)
This Act and the recited Act shall be read and construed as One Act, and the same together may be cited and referred to as “The Duchy of Cornwall Management Acts 1863–1868.”