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Where a Tenant of Crown Lands has transferred or may hereafter transfer any Stock for Redemption or Purchase of Land Tax on such Lands in ignorance of the Exception in 38 G. 3., the Commissioners may transfer to such Tenant so much Stock as shall be a Compensation for the Stock transferred by such Tenant.
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IX. ‘And whereas by the Act of the Thirty-eighth Year of His late Majesty King George the Third, for the Redemption of the Land Tax, the Tenants of Crown Lands were excepted from the general Preference in purchasing or redeeming the Land Tax therein given to Persons having any Estate or Interest in Lands or Hereditaments wherein any Land Tax was chargeable: And whereas by the Act of the Forty-second Year of the Reign of His said Majesty King George the Third, for making further Provisions for the Redemption of the Land Tax, after mentioning that it might have happened that Tenants or Lessees of Crown Lands had redeemed the Land Tax charged thereon, and had transferred the Consideration for the Redemption thereof as if they had been empowered to contract for the same, it was by the last-mentioned Act provided that it should be lawful for the Lord High Treasurer, or the Commissioners of Her Majesty’s Treasury, for the Time being, in all such Cases to cause to be transferred to any such Lessees or Tenants so much Capital Stock as should be equivalent in Amount to the Stock transferred by such Lessees or Tenants for the Redemption of such Land Tax which ought not to have been contracted for, and thereupon His Majesty, His Heirs and Successors, should be entitled to the Benefit of such Land Tax: And whereas by the aforesaid Act of the Tenth Year of His late Majesty King George the Fourth it was enacted, that it should be lawful for the said Commissioners for the Time being of His Majesty’s Woods, Forests, and Land Revenues to redeem the Land Tax charged on any Part of the Possessions of the Crown, and to purchase any Land Tax on any Part thereof which might have been redeemed or should be redeemed by any other Person or Persons, but such Provision was not to authorize any Person or Persons to purchase or redeem the Land Tax charged on any Crown Lands contrary to the Provisions of the said Act of the Forty-second Year of King George the Third: And whereas Lessees or Tenants of Crown Lands may have entered into, or may hereafter enter into, Contracts for the Purchase or Redemption of the Land Tax on such Lands, and may have transferred or may transfer to the Commissioners for the Reduction of the National Debt Sums of Three per Centum Bank Annuities, as the Consideration for the Purchase or Redemption of such Land Tax, in Ignorance of the Exception in the said Act of the Thirty-eighth Year of the Reign of His said Majesty King George the Third, herein-before referred to; and it is expedient that the Commissioners of Her Majesty’s Woods, Forests, Land Revenues, Works, and Buildings for the Time being should be empowered to reimburse such Tenants or Lessees, their Executors, Administrators, or Assigns, as after mentioned, and that thereupon such Crown Lands as aforesaid should become exempt from Land Tax;’ be it therefore enacted, That in any Case where any Tenant or Lessee of any Part of the Possessions of the Crown to which the said Act of the Tenth Year of King George the Fourth or this Act relates shall have transferred, or at any Time hereafter shall transfer, any Sum or Sums of Stock into the Names of the Commissioners for the Reduction of the National Debt, for the Purpose of purchasing or redeeming the Land Tax on the Crown Lands of which such Person was or shall be such Tenant or Lessee, and such attempted Purchase or Redemption shall be invalid or doubtful under the aforesaid Provision of the said Act of the Thirty-eighth Year of King George the Third, it shall be lawful for the Commissioners of Her Majesty’s Woods, Forests, Land Revenues, Works, and Buildings for the Time being, with the Consent in Writing of the Lord High Treasurer for the Time being, or of any Three of the Commissioners of Her Majesty’s Treasury for the Time beings by and out annual Income of the Land Revenues of the Crown, to purchase and cause to be transferred to any such Lessee or Tenant as aforesaid, his Executors, Administrators, or Assigns, so much Stock as, under all the Circumstances of the Case, shall, in the Judgment of the said Commissioners of Her Majesty’s Woods, Forests, Land Revenues, Works, and Buildings, be a due Compensation for the Stock so transferred by such Tenant or Lessee; and upon the Execution by the Party to whom such Stock shall be so transferred of an Instrument in Writing acknowledging the Transfer thereof (to be enrolled in the Office of Land Revenue Records and Enrolments) the Lands on which the Land Tax shall have been so attempted to be purchased or redeemed by such Tenant or Lessee as aforesaid shall become and be absolutely freed and discharged of and from the Payment of the Land Tax, all Arrears thereof: Provided always, that during the Continuance or, and Estate of any such Tenant or Lessee, his Executors, Administrate of the Assigns, by whom such attempted Purchase or Redemption of Lands, or aforesaid shall have been made, Her Majesty, Her Heirs and Successors, shall have and be entitled to a Rent-charge to be issuing out of such Lands the Land Tax whereof shall have been so redeemed, equal in Amount to the Land Tax redeemed; and such Rent shall be payable yearly, and shall be recovered by Distress as in case of Rent reserved on Lease.
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