Land Tax Act 1696

LXXXVIII. Monies lent to the Crown and remaining unsatisfied, upon 7W.III. c.2. to be first placed upon the Register;

and then Monies lent upon the general Credit of the Exchequer, and issued for the Services herein mentioned, &c; Principal Monies upon Orders of Loan transferred, how paid; Interest thereon, how paid; such Monies assignable.

Provided always and be it hereby further enacted by the Authority aforesaid That all and every the principal Su[m]ms of Money which have been lent to His Majesty and do remaine unsatisfied upon Creditt of such Contributions for Anities? as were authorized to be made by the Act of Parliament made in the Seventh Yeare of His Majesties Reigne intituled An Act for enlarging the Times to come in and purchase certaine Annuities therein mentioned and for continuing the Duties formerly charged on Low Wines or Spiritts of the First Extraction for carrying on the Warr against France and all and every the Orders of Loan for the same shall be in the First Place or Places transferred to and placed upon the Register appointed to be kept by this Act for the said Pound Rate or Tax of Three Shillings in the Pound in Course as they were lent And that all and every the Principal Su[m]ms of Money which since the First Day of July One thousand six hundred ninety six and before the First Day of February One thousand six hundred ninety six have been or shall be lent to His Majesty att the Receipt of Exchequer upon Creditt of the Exchequer in General and have been or shall be issued for the Service of the Navy Victualling and Land Forces or for carrying on the Works of the Mints & all & every the Orders of Loan for the same shall be in the subsequent Place or Places transferred to and placed upon the Register appointed to be kept as aforesaid for the said Pounds Rate or Tax of Three Shillings in the Pound in Course as they were lent and next after the several Loans before by this Act appointed to be transferred as aforesaid Which transferences are hereby required to be made by virtue of this Act without making any issues or taking any Receipts from the Parties in order to transferr the said Loans And that the principal Moneys upon the said Orders so transferred shall be payable & paid to the respective Lenders of the same his her or their Executors Administrators or Assigns out of the Moneys arising by virtue of this Act of or for the said Pound Rate or Tax of Three Shillings in the Pound in the same Course & Order they are hereby appointed to be transferred and with Preferrence to the Loans which any Person or Persons shall make hereafter on the Creditt of the said Pound Rate or Tax of Three Shillings in the Pound And that the Interest due or to be due for all the said Principal Su[m]ms so to be transferred as aforesaid shall be paid & satisfied out of the Moneys ariseing by the said Pound Rate or Tax of Three Shillings in the Pound until the respective times of the Satisfaction of the Principal And that any Person or Persons who are or shall be intituled to any Moneys to be paid by such Orders to be transferred as aforesaid shall or may assigne over the same to, any Person or Persons which Assignements shall be good and effectual in Law and so toties quoties Any thing in this present [X1 Act] or in any former Act or Act of Parliament to the contrary notwithstanding.

Editorial Information

X1 interlined on the Roll.