Taxation, etc. (No. 2) Act 1695

LXXIX.

Regulation as to Corporation lending Money; Penalty £500; Proviso for Deficiency of Duties.

Provided always and be it enacted That the said intended Corporation or any Persons in Trust for them or upon their Account shall not advance or lend att Interest any Su[m]m or Su[m]ms of Money upon any pretence whatsoever unlesse to His Majesty into the Receipt of the Exchequer and on such Funds onely on which a Creditt of Loan is or shall be granted by Parliament or unto the Subjects of this Realme or the Dominions thereof upon Mortgages of Lands Tenements Rents or Hereditaments and not otherwise And that in case any Money shall be advanced or lent to His Majesty or any of His Subjects by the said intended Corporation or any Person on their Account upon any other pretence or security than as aforesaid then the said intended Corporation and all Persons assenting to or concerned in the lending thereof and each and every of them for every such Offence shall forfeit and lose Five hundred pounds whereof one Moiety shall be to His Majesty and the other Moiety to him or them who will sue for the same to be recovered in any of His Majesties Courts of Record att Westminster by Action of Debt Bill Plaint or Information wherein no Protection Wager of Law Essoign Priveledge of Parliament or other Privelege shall be allowed nor any more then one Imparlance And in case the said Duties arising by this Act shall att any time or times appeare to be so deficient in the Produce of the same as that within any one Yeare to be reckoned as aforesaid the Weekly Payments upon the same Rates or Duties shall not amount to so much as One hundred seventy nine thousand foure hundred and eighty Pounds or to so much as shall be sufficient to discharge and satisfie the severeal and respective Benefitts or Advantages by this Act appointed or intended to be paid within or for the same yeare respectively That then and so often and in every such Case the Co[m]missioners of His Majesties Tresury and the Under Tresurer of the Exchequer now being and the Tresurer and Under-Tresurer of the Exchequer or Co[m]missioners of the Tresury for the time being are hereby strictly enjoyned and required by vertue of this Act and without any further or other Warrant to be sued for had or obtained from His Majesty His Heires or Successors in that behalfe to cause every such Deficiency to be made good by applying issuing or paying so much of any Treasure or Revenue belonging or to belong to His Majesty His Heires or Successors (not being appropriated to any particular Use or Uses by any Act or Acts of Parliament) towards the discharging or paying off the said Benefitts and Advantages appointed by this Act as together with the Moneys which shall have been brought into the said Receipt of or for the said several Rates and Duties hereby granted or continued shall be sufficient to pay off and discharge all the Moneys which shall within the same Yeare respectively be growne or ought to be paid for the Recompencs and Advantages hereby provided according to the true Intent and Meaning of this Act.