# Appropriation of Revenue Act 1700, Section XXIV: In lieu of the perpetual Annual Payments out of the Excise granted by King Charles II. the hereditary Excise, after 25th Dec. 1705, shall stand charged with the Annual Payments of £3 per Cent.; without Fee or further Warrant.


Provided always and be it further enacted by the Authority aforesaid That in lieu and discharge of certain perpetual annual Payments and of all Arrears thereof granted by His late Majesty King Charles the Second by Letters Patent out of the said Hereditary Revenue of Excise in Satisfaction of certain Principal Sums mentioned in the said Letters Patent to be then due from His said late Majesty to the respective Patentees therein named the said Hereditary Revenue of Excise shall from and after the Twenty sixth Day of December One thousand seven hundred and five be and stand charged and chargeable for ever with the Payment of annual Sums after the Rate of Three Pounds per Centum per Annum for the Principal Sums mentioned in the said respective Letters Patent to be issued and paid out of the said Revenue by Quarterly Payments out of the Receipt of His Majesties Exchequer by the Officers of the same unto the respective Owners and Proprietors of such annual Sums and to their Heirs and Assigns for ever without any Fee or Charge and any further or other Warrant to be sued for had or obtained in that Behalf the said annual Payments after the Rate of Three Pounds per Centum to be subject nevertheless to be redeemed upon Payment of a Moyety of the Principal Sums mentioned in the said respective Letters Patent

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Source: https://www.legislation.gov.uk/aep/Will3/12-13/12/section/XXIV (the official version)
Page: https://openlegislation.uk/appropriation-of-revenue-act-1700/section-XXIV
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.