Taxation (No. 4) Act 1694

XI. Proviso respecting Assignments of Debts to Owners of Transports, and respecting Authority to receive the same.

Interest of £6 per Cent. per Ann; Limitation of Redemption.

Provided and it is further enacted and ordained by the authority aforesaid That all such of the said debts due to any Owners of such Transport ships and all parts of such debts as have been att any time assigned or granted or covenanted and agreed to bee assigned or granted or for which any authority hath heretofore been given or granted by any of the said owners their respective executors or administrators to any person or persons to receive the same or any part thereof to the use of such person soe authorized or any other person besides such owner his or her executors or administrators shall and may bee redeemed and are hereby declared to bee redeemable by the said Owners their respective executors or administrators on payment of the principal su[m]m of money paid in consideration of makeing the said assignment grant covenant or authority together with the charges and interest for the same from the time of the payment thereof after the rate of Six pounds per centum for One whole yeare discounting for what hath been received for or in respect of the said debt by any such person to whom such assignment or authority was made or given and upon payment or tender of the said principal money interest and charges such grant assignement or authority and all covenants and agreements concerning the same shall bee void. Provided neverthelesse that such redemption as aforesaid bee made within the space of Twelve months from and after the end of this present Session of Parliament.