Provided always and it is hereby further enacted, That any Person or Persons Natives or Forreigners Bodies Politick or Corporate who shall be possest of any of the said Bills of Creditt (in case there should be a Failure of Cash coming into the Exchequer to answer the same upon demand) shall and may signifie his her or their desires to the said Auditor of the Receipt for the time being to exchange his her or their Bill or Bills of Creditt aforesaid for a perpetual yearly Rent or Payment after the Rate of Seven Pounds per [X1Cents] per Annum to be issueing and payable out of the said Duties upon Salt and other the Duties hereby granted and upon delivering upp of such Bill or Bills of Creditt to the said Auditor of the Receipt and cancelling the same all and every such Person and Persons Natives and Forreigners Bodies Politick and Corporate their Heires Successors & Assigns respectively shall have receive and enjoy and be intituled by this Act to have received and enjoy for ever out of the same Duties a certain yearly Rent or Su[m]m to be computed after the rate of Seven Pounds per[X1Cent.] per Annum for the Principal and Interest which shall be due upon such Bills so delivered upp att the time of cancelling and shall have a good sure and firme Estate in Fee simple of and in such yearely Rents or Su[m]ms respectively which shall and may from time to time be assigned or conveyed in part or in the whole from any Person or Persons Bodies Politick or Corporate and so over or be otherwise settled limitted incumbred or charged as any other Estate in Fee-simple may by the Laws of this Realme be assigned conveyed settled limitted incumbred or charged subject neverthelesse to the several Conditions herein after contained And the said yearely Rents or Su[m]ms respectively shall be paid and payable halfe yearely that is to say att Michaelmas and Lady-day by equal Portions And the first Payments thereof shall be made att such of those Feasts which shall first happen next after the delivering upp and cancelling of such Bills respectively And that Orders in the Forme used in the Exchequer shall be made forth and signed for the Payment of the said yearly Rents or Su[m]ms accordingly And all and every such yearely Rents or Su[m]ms shall be duely paid without any Fee or Charge under the like Penalties upon the Officiers their Clerks and Deputies as are before prescribed in reference to the Payment of Principal or Interest upon Loans.
Editorial Information
X1Variant reading of the text noted in The Statutes of the Realm as follows: Centum O. [O. refers to a collection in the library of Trinity College, Cambridge]