Taxation, etc. Act 1692

XXII. If the whole Sum of £1,000,000 be not raised before May, Persons contributing to have the Advantage of £14 per Cent for Life of the Nominee.

Time limited for nominating Life; Commencement and times of Payment of Annuities; Lenders to have Tally and Order for Payment; Orders assignable; Monies raised appropriated to Payment of the £14 per Cent. and not divertible. Penalty; Officers to keep Books, &c; without Fee; Access to Books; Interest after the Rate of £10 per Cent. allowed till September.

And be it further enacted by the Authority aforesaid That in case the whole Sum of Ten hundred thousand Pounds shall not be advanced by the said Contributors and paid into the Exchequer before the said First day of May One thousand six hundred ninety and three upon the Terms and Advantage of Survivorship as aforesaid that then it shall and may be lawfull to and for any person or persons Natives or Foreigners after the said First day of May One thousand six hundred ninety three and before the Nine and twentieth day of September then next following to advance and pay into Their Majesties Exchequer any Sum or Sums of Money not exceeding in the whole (together with what shall have been before the said First day of May advanced by the said Contributors as aforesaid) the said Sum of Ten hundred thousand pounds upon the Terms following that is to say That every such person out of the Moneys ariseing by the Rates and Duties of Excise granted by this Act shall have and receive for every Sum of One hundred Pounds by them respectively advanced and paid a yearely Annuity Rent or Payment of Fourteen Pounds of lawfull English money (and proportionably for a greater Sum) [X1 and] for and dureing the Life of such person so advanceing or paying the same or dureing any other Life to be nominated by the person advancing or paying any such Sum as aforesaid the same to be nominated within Six days after payment of the said Sum Which yearely Annuities Rents or Payments shall co[m]mence from the Nine and twentieth day of September One thousand six hundred ninety three and shall be paid and payable at the Foure most usuall Feasts in the year that is to say at the Feasts of the Birth of our Lord Christ the Annunciac[i]on of the Blessed Virgin Mary the Nativity of Saint John Baptist and the Feast of Saint Michael the Archangel by even and equal portions And every person on payment of any such Sum or Sums as aforesaid shall imediately have one or more Tally or Tallies importing the Receipt of the consideration money and orders for payment of the said Annuities beareing [X2 the same] Date with the Tally the said Orders to bee signed in the same manner as is in this Act before menc[i]oned touching Orders to be given to the before menc[i]oed Contributors and not to be determinable revocable or countermandable as touching the before mentioned Orders is enacted Which said Orders shall be assigneable and transferable in such and the same manner as is before mentioned touching the said Orders given to the Contributors as aforesaid upon the Terms and Advantages in this Act first menc[i]oed And all the moneys ariseing by the Rates and Duties hereby granted over and besides so much as shall bear proportion after the Rates aforesaid to the whole Sum which shall be advanced by the Contributors before the said First day of May One thousand six hundred ninety and three are and shall be appropriated and applied and are hereby appropriated to and for the payment of the said Annuities or yearelie Rents or Sums after the Rate of Fourteene Pounds per Annum for every Hundred Pounds advanced as aforesaid according to the true intent and meaning of this Act and shall not be divertible or diverted to any other use intent or purpose whatsoever under the like Penalties Forfeitures and Disabilities in respect to all and every the Officers above mentioned as are before appointed and enacted in case of diverting or misapplying any part of the moneys which ought to be paid to the Contributors who are to have the advantage of survivorship as aforesaid and the said Officers respectively are hereby required to keep Books and Registers and make Entries of the Names of all persons who shall advance any money after the said First day of May as aforesaid and of the several sums so advanced and the times of paying in the same respectively and the Names of such Persons for whose Lives the several Annuities and yearely payments are to be payable without Fee or Reward as aforesaid (to which Books all Persons concerned shall have accesse as aforesaid) All which the said Officers are to do and performe under the like penalties and forfeitures and disabilities as aforesaid And every Person who shall advance and pay any such Sum as aforesaid after the said First day of May shall receive out of the money granted by this Act for all moneys by him so advanced and paid from the respective Days of payment unto the said Nine and twentieth day of September One thousand six hundred ninety three Interest for the same att the rate of Ten Pounds per Centum per Annum.

Editorial Information

X1 O. omits.

X2 interlined on the Roll.