# Taxation (No. 2) Act 1695, Section XX: Interest at £6 per Cent. per Ann.


How Principal, Interest, and Reward for milled, broad, and unclipt Monies shall be paid; Monies so lent not to be taxed. No Fees; No undue Preference.; Penalty; as by 4 W. & M. c. 1.
And it is hereby enacted That all and every Sum[m] and Sum[m]s of Money soe to bee lent in Order and Course according to the time of lending the same and the Interest thereof not exceeding the said Rate of Six Pounds per Cent[um] per Annum to bee paid every Three Months until Satisfaction of the Principal shall bee payable and satisfied unto the respective Lender or Lenders of the same his her or their Executors Administrators or Assignes out of the Moneys which from and after the said last Day of February shall arise and bee brought into the Exchequer upon the Act last mentioned by or for Contribution or Consideration Moneys for the Annuities before mentioned soe farr as the same will extend and the Moneys soe ariseing by or for Contributions as aforesaid shall bee applied to the Satisfaction of the Principal Moneys so to bee lent in course and the said Interest thereof and not to bee diverted or divertible to any other Use (except onely such part of the said Contributions or Consideration Moneys as by any other Act of this present Session of Parliament (if any such bee) may bee directed to bee applied to the Payment of Principal Interest and Reward for milled broad or unclipt Moneys to bee lent upon the Credit of the Contribution or Consideration Moneys aforesaid And in case the Moneys soe arising by Contributions shall not bee sufficient for the paying of the said Loans and the Interest thereof then the said Loans which shall remain unsatisfied and the Interest of the same shall bee paid and satisfied out of the then next Aids or Supplies to bee granted to His Majestie in Parliament and shall bee transferred and transferrable thereunto as soon as any such Aid or Supply shall bee granted to His Majesty And if noe such Aids or Supplies shall bee granted to His Majestie before the Second Day of February which shall bee in the Yeare of our Lord One thousand six hundred ninety six then the said Sum[m] and Sum[m]s of Money soe to bee borrowed not exceeding as aforesaid and the Interest thereof shall bee payable and bee paid and satisfied to the said Lender or Lenders his her or their Executors Administrators or Assigns respectively by and out of any of His Majesties Treasure which from thenceforth shall come into bee or remaine in the Receipt of His Majesties Exchequer not being already appropriated to any particular uses by any Act or Acts of Parliament before this time made And that the Monies soe to bee lent on the Credit last mentioned shall not bee taxed or charged to any Tax or Aid whatsoever And that noe Fees or Gratuities shall bee demanded or taken in the Exchequer for the making or repaying of the Loans last mentioned or for the Interest thereof and noe undue Preference shall bee given in the Repayment of the same Loans under the like Penalties to bee incurred by the Officers or Clerks in the Exchequer respectively for the demanding or taking of such Fees or Gratuities or for the giving of such undue Preference as are prescribed in and by an Act of this present Session of Parliament For granting to His Majestie an Aid of Foure shillings in the Pound for taking or demanding of any Fees or Gratuities or for giving any undue Preference in respect of the Loans authorized to bee made upon Credit of the same Aid of Foure shillings in the Pound.

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Source: https://www.legislation.gov.uk/aep/Will3/7-8/10/section/XX (the official version)
Page: https://openlegislation.uk/taxation-no-2-act-1695/section-XX
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.