# Naval Agency and Distribution Act 1864, Section 17: Forfeited shares and deduction of 5 per cent. to be carried to Naval prize cash balance.


All forfeited and unclaimed shares and balances of prize money, . . . , shall, under the direction of the Admiralty continue to be carried to and to form part of the naval prize cash balance.
So much of the naval prize cash balance as the Admiralty think expedient shall from time to time by Her Majesty’s Paymaster General, under the authority and direction of the Admiralty, be paid and transferred to the Consolidated Fund of the United Kingdom.
In case at any time a claim in respect of prize or bounty money is made which the naval prize cash balance is not sufficient to meet, there shall be paid out of the said Consolidated Fund a sufficient sum to meet such claim.

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Source: https://www.legislation.gov.uk/ukpga/Vict/27-28/24/section/17 (the official version)
Page: https://openlegislation.uk/naval-agency-and-distribution-act-1864/section-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.