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Owners of square rigged Vessels, Value 1,000l. and upwards requiring a Licence, to give Security in 3,000l.
56 G. 3. c. 104.
§ 23.
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XII. ‘And Whereas by an Act passed in the Fifty sixth Year of His present Majesty’s Reign, intituled An Act for the making more effectual Provision for the Prevention of Smuggling, and rewarding Officers and Persons making Seizures and capturing Smuggling Vessels; for licensing Luggers employed in the North Sea Fisbery, and obliging Exporters of Exciseable Goods on Drawback to give Notice of Shipment; it is enacted, that Security shall be given by the Owner or Owners of every Ship, Vessel or Boat for which a Licence shall be required, in Treble the Value thereof, instead of Double the Value, such Security to be given under the same Conditions, Rules, Regulations, Restrictions and Forfeitures, as provided and enacted by the Laws in force on and immediately before the passing of the said Act, as far as the same are applicable thereto: And Whereas it is expedient to make Alteration as to the Amount of Security to be given for Ships or Vessels which shall be square rigged, and the Value of which shall amount to One thousand Pounds and upwards;’ Be it therefore enacted, That in respect of every Ship or Vessel (being square rigged) and of the Value of One thousand Pounds and upwards, for which a Licence shall be required, the Owner or Owners shall give Security in the Sum of Three thousand Pounds, and not in any greater Sum; any thing in the said recited Act or any other Act to the contrary notwithstanding, but subject nevertheless to the same Conditions, Rules, Regulations, Restrictions and Forfeitures, as are provided and required by the Laws now in force, as far as the same are applicable thereto.
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