Section XII Duchy of Lancaster and Surveyor General empowered to order Investment in Three per Cent. Consols. or Three per Cent. Reduced.

It shall be 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 M1said Land Tax Perpetuation Act 1798 and M2Land Tax Redemption Act 1802, or under this Act (excepting only as far as it relates to . . . F1 Sales of Manerial Rights . . . ), and which shall be paid into the Bank ofEnglandunder the Directions of any of the Three last mentioned Acts, shall be laid out in the Purchase either of Three Poundsper CentumConsolidated Bank Annuities, or Three Poundsper CentumReduced Annuities, in the Names of the Commissioners of His Majesty’s Treasury, or in the Name of the Duchy ofLancaster, in like Manner in all Respects as is prescribed in the M3said Land Tax Perpetuation Act 1798 and M4Land Tax Redemption Act 1802, with relation to Purchases of Three Poundsper CentumConsolidated Bank Annuities under those recited Acts respectively, and the Capital Stock purchased under the Provisions of this Act, whether Threeper CentumConsolidated Bank Annuities, or Threeper CentumReduced 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 Land Tax Perpetuation Act 1798 and Land Tax Redemption Act 1802, 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.