XXVI In Lease of Mines, &c. Treasury empowered to reserve a Part of the Produce, or a Duty upon the Value of it, instead of any other Rent.
And whereas the most usual Mode of Reservation in Leases of Mines, Collieries, Quarries, and other Mineral and Fossil Substances, and that which is best adapted to this Kind of Property, is a certain Share of the Ore or other Produce in Kind, or a Rent or Duty in Money payable on the Quantity railed ; be it therefore enacted, That it shall be lawful in Leases under the Great Seal, or the Seal of the Exchequer, of Mines, Collieries, Quarries, and other Mineral and Fossil Substances belonging to His Majesty. within the ordering and Survey aforesaid, instead of any other annual Rent, to receive such Share of the Produce in Kind, or such Rent or Duty upon the Quantity or Value of such Produce, as the Lords Commissioners of the Treasury, or any three or more of them, shall think proper.