XII Duchy of Lancaster and Surveyor General empowered to order Investment in Three per Cent. Consols or Three per Cent. Reduced.
Provided always, and be it further enacted, That it wall he lawful for the, said Chancellor and Council of the said Duchy, and the said Surveyor General to order and direct that the Purchase Monies which shall hereafter arise by Sales to be made of Property belonging to His Majesty, His Heirs and Successors, within the ordering and Survey, aforesaid, under the said recited Acts of the Thirty-eighth and Forty-second Years of His present Majesty, or under this Act (excepting only as far as it relates to Enfranchisements of Copyholds and Sales of Manerial Rights respectively), and which shall be paid into the Bank of England under the Directions of any of the Three last mentioned Acts, shall be laid out in the Purchase either of Three Pounds per Centum Consolidated Bank Annuities, or Three Pounds per Centum Reduced Annuities, in the Names of the Commissioners of His Majesty's Treasury, or in the Name of the Duchy of Lancaster, in like Manner in all Respects as is prescribed in the said recited Acts of the Thirty-eighth and Forty-second Years of His present Majesty, with relation to Purchases of Three Pounds per Centum Consolidated Bank Annuities under those recited Acts reflectively, and the Capital Stock purchased under the Provisions of this Act, whether Three per Centum Consolidated Bank Annuities, or Three per Centum Reduced Annuities, and the Interest or Dividends arising therefrom, shall be subject to be disposed of and applied in the same Manner, to the same Purposes, and under the same Rules, Regulations, and Provisions, as are prescribed in the said recited Acts of the Thirty-eighth and Forty-second Years of His present Majesty, with respect to Stock purchased by Sales of any of the said Land Revenues authorized by the said last-mentioned Acts, and with respect to the Dividends and yearly Interest arising therefrom.