Taxation, etc. (No. 2) Act 1695

XXXII. In case the Company cannot deliver such Bills of Credit to Owner repaying Money lent, Proceedings.

How Lands discharged and redeemed.

Provided neverthelesse and for the more ready and safe discharging such Lands Interests or Estates from such Bills of Charge as aforesaid upon Payment of the Moneys due thereon or any part thereof Be it enacted That when the Owners of such Lands or other Interests or Estate [X1 shall pay] off all or any Moneys lent by the said Governor and Company on Security thereof and that the said Governor and Company shall not att the time of such Payment have the Bills charged on such Lands or other Interests or Estates ready to be delivered to such Owner That in such Case the said Governor and Company shall instead thereof deliver cancelled to the Owner of the said Lands or other Interests or Estates so many Bills charged on some other Lands or other Interests or Estates as shall amount to the Moneys so paid off and discharged and att the same time in the Counterpart remaining with them of the Bills standing out upon the Estate in respect whereof such Payments shall be made shall enter a Transferr of the Bills so standing out to the Estate on which the Bills delivered cancelled shall be charged in these or the like Words viz^t, discharged and transferred to Liber A. N°: I. and shall indorse such transferr on the said Bill so delivered cancelled and in the Counterpart remaining with them of the said Bills delivered cancelled shall enter the transferr thereof in these or the like Words vizt. Cancelled and recharged from [X2 Liber.] B. N°: 2. All which shall ipso facto discharge the Lands or other Interests or Estates redeemed in respect whereof such Money shall be paid from so much in Bills standing out thereon and shall charge such Bills on the Lands or other Interests or Estates to which they shall be so transferred that when all the Bills charged on any Estates shall be discharged in manner aforesaid the Owners of such Lands shall or may have the same reconveyed unto them and for ever thenceforth hold and enjoy the same freed and discharged from all Bills or Charges charged thereon by the said Governor and Company which reconveyance shall be an Evidence of such Discharge.

Editorial Information

X1 interlined on the Roll.

X2 Variant reading of the text noted in The Statutes of the Realm as follows: L: O. [O. refers to a collection in the library of Trinity College, Cambridge]