Taxation Act 1696

XVI. Loan of £125,000 at £8 per Cent. per Ann.

Tallies of Loan.; Orders registered in course.; No Fee for any Matter relating to Loan.; Officer offending.; Deputies offending.

And to the intent that Moneys may the more speedily be raised for the Ends and Purposes in this Act mentioned Be it further enacted by the Authority aforesaid That itt shall and may be lawfull to and for any Person or Persons Bodies Politick or Corporate Natives or Foreigners to advance and lend to His Majesty upon the Security of this Act any Su[m]m or Su[m]ms of Money not exceeding the Su[m]m of One hundred twenty five thousand Pounds and to have and receive Interest for the Forbearance thereof not exceeding Eight Pounds per Centum per Annum and that no Money so to be lent shall be rated or assessed to any Tax or Assessment whatsoever And that the Auditor of the Receipt of Exchequer shall keep one Book in which all Moneys coming into the said Receipt for the said Duties upon Paper Parchment or other Duties by this Act granted shall be distinctly entred and registred and the Lenders shall according to the Course of Exchequer have Tallies of Loan and Orders of Repayment bearing such Interest as aforesaid which Interest shall be paid every Three Months until Satisfaction of the Principal And the said Orders shall be registred in Course according to the Dates of the Tallies without any undue Preference And all and every Person and Persons shall be paid the Principal in Course according to the Dates of their Tallies And all the Money coming in by this Act shall in the same Order be liable to the Satisfaction of the Parties their Executors Administrators or Assigns without any undue Preference and shall not be diverted to any other Use Intent or Purpose whatsoever And that no Fee Reward or Gratuity directly or indirectly shall be demanded or taken for any Matter or Thing relating to the said Loans And if any Officer shall offend by diverting or misapplying the Moneys or giving any undue Preference in point of registry or Payment or by taking any Fee Reward or Gratuity hee shall forfeit his Place and any Deputy or Clerk offending therein without Direction [X1 or Privity] of his Master shall forfeit double the Value of the Money so diverted or misapplied demanded or taken to the Party grieved.

Editorial Information

X1 interlined on the Roll.