Legacy Duty Act 1797
Year | 1797 |
(37 Geo. 3) C A P. CXXXV.
[20th July 1797]
'WHEREAS by an Act, passed in the thirty-sixth Year of his present Majesty's Reign, intituled, ; it is enacted, that where, by reason of the Infancy, or Absence beyond the Seas, of any Person entitled to any Legacy, or to the Residue of any Personal Estate, or any Part thereof, chargeable with Duty by virtue of the said Act, the Person or Persons having or taking the Burthen of any Will or Testamentary Instrument, or the Administration of such Personal Estate, cannot pay such Legacy, or some Part thereof, although he, she, or they may have Effects for that Purpose, or cannot pay such Residue, or some Part thereof, although he, she, or they may have the same, or some Part thereof, in his, her, or their Hands; it shall be lawful for such Person or Persons to pay such Legacy or Residue, or any Part or Parts thereof, respectively, or any Sum or Sums of Money on account thereof, after deducting the Duty chargeable thereon, into the Bank ofEngland , with the Privity of the Accountant General of the Court of Chancery, to be placed to the Account of the Person or Persons for whose Benefit the same shall be so paid; for Payment of which Money the said Accountant General shall give his Certificate, as usual in such Cases, on Production of the Certificate of the Commissioners of Stamps that the Duty thereon hath been duly paid, and such Payment into the Bank shall be a sufficient Discharge for the Money so paid in, provided the Duty be also paid thereon as aforesaid; and such Money, when paid in, shall be laid out by the said Accountant General, without any formal Request for that Purpose, in the Purchase of three Pounds per Centum Consolidated Annuities, which, with the Dividends thereon, shall be transferred and paid to the Person or Persons entitled thereto, or otherwise applied for his or their Benefit, on Application to the Court of Chancery by Petition, or Motion in a summary Way: And whereas Money paid into the Bank of England , with the Privity of the said Accountant General, in ordinary Cases, cannot, according to the Forms prescribed for that Purpose, be paid by the Bank of England , upon the Draft of the said Accountant General...
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