OpenLegislation

Section LXXIII Persons may lend Money to His Majesty not exceeding £1,400,000 at £8 per Cent. per Annum.

Original text. Later amendments are not shown.

Of which £250,000 to be applied, towards the disbanding.; Money lent on this Act not to be taxed.; Tally of Loan to Lender, and Warrant for Interest.; Orders for Repayment registered according to Date of Tally, and paid in course.; Monies to come in by this Act liable to satisfy.; No Fee for providing or making Books, &c. or for Payment of Money lent.; Penalty.; Punishment.; Undue Preference by Officer,; Penalty; By Deputy,; Penalty; Auditor, Clerk of the Pells, or Teller not making Payments in due Order; Penalty.

Provided also and it is hereby further enacted by the Authority aforesaid That it shall and may be lawfull to and for any Person or Persons Natives or Forreigners Bodies Politick or Corporate to advance & lend to His Majesty att the Receipt of His Majesties Exchequer upon the Creditt of this Act any Su[m]m or Su[m]ms of Money as together with the several Su[m]ms by this Act appointed to be transferred as aforesaid shall not exceed in the whole One Million foure, hundred thousand Pounds of which Su[m]m of One Million foure hundred thousand Pounds a Su[m]m not exceeding Two hundred and Fifty thousand Pounds shall be applied for the paying off & disbanding the Regiments Troops and Companies disbanded and to be disbanded or so much thereof as shall be sufficient for that Service and to have and receive for the Forbearance thereof Interest after the Rate of Eight Pounds for every One hundred Pounds for One whole Yeare and moreover that no Money so lent upon the Security of this Act shall be rated or assessed by virtue of this Act or any other Act of Parliament whatsoever and that all and every Person and Persons who shall lend any Money to His Majesty on the Creditt of this Act and pay the same into the Receipt of Exchequer shall i[m]mediately have a Tally of Loan struck for the same and an Order for his her or their Repayment bearing the same Date with his or their Talleys in which Order shall be also contained a Warrant for Payment of Interest for the Forbearance thereof not exceeding Eight Pounds per Centum per Annum to be paid every Three Months until the Repayment of the Principal and that all such Orders for Repayment of Money to be lent shall (after the Orders before by this Act directed) be registred in Course according to the Date of the Talley respectively without other preference of one before another and that all and every Person and Persons shall be paid in course according as their Orders shall stand registred in the said Register Book so as the said Person Native or Forreigner his Executors Administrators or Assignes who shall have his Order or Orders first entred in the said Book of Register shall be taken and accounted the First Person to be paid upon the Moneys to come in by virtue of this Act and hee or they who shall have his or their Order or Orders next entred shall be taken and accounted to be the second Person to be paid and so successively and in course and that the Moneys to come in by this Act shall be in the same Order liable to the Satisfaction of the said respective Parties their Executors Administrators or Assignes successively without undue preference of One before another and not otherwise and shall not be diverted or divertible to any other Use Intent or Purpose whatsoever and that no Fee Reward or Gratuity directly or indirectly be demanded or taken of any His Majesties Subjects for providing X1or making of any such Books or Registers or any Entries Views or Search in or for Payment of Money Lent or the Interest thereof as aforesaid by any of His Majesties Officer or Officers their Clerks or Deputies on Paine of Payment of Treble Damages to the Party agrieved by the Party offending with Costs of Suit or if the Officer himselfe take or demand any such Fee or Reward then to lose his Place also and if any undue Preference of one before another shall be made either in point of Registry or Payment contrary to the true meaning of this Act by any such Officer or Officers then the Party offending shall be liable by Action of Debt or on the Case to pay the Value of the Debt Damages & Costs to the Party agrieved and shall be forejudged from his Place or Office and if such preference be unduely made by any his Deputy or Clerk without Directions or Privity of his Master then such Deputy or Clerk onely shall be lyable to such Action Debt Damage and Cost and shall be for ever after uncapable of his Place or Office and in case the Auditor shall not direct the Order or the Clerk of the X2 Pells Record or the Teller make Payment according to each Persons due Place and Order as afore directed then he or they shall be adjudged to forfeit and the respective Deputies and Clerks herein offending to be liable to such Action Debt Damages and Costs in such Manner as aforesaid all which said Penalties Forfeitures Damages and Costs to be incurred by any of Officers of the Exchequer or any their Deputies or Clerks shall and may be recovered by Action of Debt Bill Plaint or Information in any of His Majesties Courts of Record att Westminster wherein noe Essoigne Protection Priveledge Wager of Law Injunction or Order of Restraint shall be in any wise granted or allowed.

Annotations

Editorial notes

X1

interlined on the Roll.

X2

Variant reading of the text noted in The Statutes of the Realm as follows: of the O. [O. refers to a collection in the library of Trinity College, Cambridge]