# Greenland Trade Act 1692, Section VIII: Defaulters to forfeit £10 per Cent. of what they have paid.


And be it further enacted by the authority aforesaid That every person or persons who shall make default in paying any part or proportion of such his Subscription in such manner as by this Act is appointed shall forfeit and loose to the use and benefitt of the Adventurers in the said Joynt Stock after the rate of Ten pounds for every One hundred pounds of such sum or sums which he or they shall so neglect or omitt to pay in as aforesaid to be deducted out of the money paid in by such person makeing default as aforesaid.

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Source: https://www.legislation.gov.uk/aep/WillandMar/4/17/section/VIII (the official version)
Page: https://openlegislation.uk/greenland-trade-act-1692/section-VIII
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.