# Taxation: Members of Parliament Act 1700, Section LXXV: LXXV. The Money arising by this Act to be divided into Three equal Parts, One Third Part to be appropriated as follows; £19,000 thereof for the Charges of circulating Exchequer Bills.


The rest of the said Third Part for cancelling and discharging the said Bills.
And be it enacted by the Authority aforesaid That all and every the Sume and Sumes of Money which shall arise or be brought into the Receipt of Exchequer of or for the Aid or Assessements by this Act granted shall be divided into Three equall Parts and that One Third Part of all and every such Su[m]me and Su[m]mes of Money shall be applyed and appropriated and the same is hereby appropriated in manner following (that is to say) any Sume not exceeding Nineteen thousand Pounds shall or may be applied and disposed to discharge Premiums and other Charges of circulating the Bills comonly called Exchequer Bills in such Manner and Forme as the Commissioners of the Treasury or any Three or more of them or the High Treasurer for the Time being shall direct and appoint and all the rest and residue of the said Third Part of all and every the said Summe and Sumes of Money such Part thereof as is to go in Repayment of the Loans to be made thereupon and the Interest thereof as this Act directs onely excepted shall be applied and appropriated and the same is hereby appropriated to and for the cancelling and dischargeing of Exchequer Bills and of the Principall and Interest Moneys due and to grow due thereupon (so far as the said rest and residue of the said Third Part will extend) in such Manner and Forme as are by this Act prescribed and to none other. Use Intent or Purpose whatsoever

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Source: https://www.legislation.gov.uk/aep/Will3/12-13/10/section/LXXV (the official version)
Page: https://openlegislation.uk/taxation-members-of-parliament-act-1700/section-LXXV
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.