# Taxation (No. 2) Act 1692, Section V: If Monies paid under this Act do not amount to £300,000,


Exchequer may borrow Deficiency; upon the Credit of the Exchequer in general.
And be it enacted by the Authority aforesaid That if upon the return of the Duplicates it shall appear that the Rates Payments or Sums of Money to be assessed collected levied and paid by virtue of this Act doe not amount to the Sum of Three hundred thousand pounds that then at any time or times from thenceforth it shall and may be lawfull to and for Theire Majesties or Theire Officers in the Receipt of Theire Majesties Exchequer by their command and appointment to borrow and take into the said receipt at interest for Theire Majesties use by way of Loan any sum or sums of money which together with the whole value or amount of all the sums of money which shall be assessed collected levied and paid by virtue of this Act shall not exceed in the whole the sum of Three hundred thousand pounds which sum or sums of money soe to be taken upp or borrowed shall and may be charged upon the credit of Their Majesties Exchequer in generall and Tallies of Loane and Orders for repayment of the same shall be levied accordingly which Orders shall be assignable and transferrable from one person to another

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Source: https://www.legislation.gov.uk/aep/WillandMar/4/14/section/V (the official version)
Page: https://openlegislation.uk/taxation-no-2-act-1692/section-V
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.