XVII. And be it further enacted, That if any Money shall be agreed or
awarded to be paid for any Buildings, Lands, or Hereditaments purchased,
taken, or used by virtue of the Powers of the said recited Act and this
Act, for the Purposes thereof, which shall belong to any Corporation,
Feme Covert, Infant, Lunatick, or Person or Persons under any other
Disability or Incapacity, such Money shall, in case the same shall amount
to or exceed the Sum of Two hundred Pounds, with all convenient Speed be
paid into the Bank of _England_, in the Name and with the Privity of the
Accountant General of the High Court of Chancery, to be placed to his
Account there _ex parte_ the Commissioners for executing the said Act and
this Act, to the Intent that such Money shall be applied, under the
Direction and with the Approbation of the said Court, to be signified by
an Order made upon a Petition, to be preferred in a summary Way, by the
Person or Persons who would have been entitled to the Rents and Profits
of the said Buildings, Lands, and Hereditaments, in the Purchase or
Redemption of the Land Tax, or towards the Discharge of any Debt or
Debts, or such other Incumbrances, or Parts thereof, as the said Court
shall authorize to be paid, affecting the same Lands or Hereditaments, or
affecting other Buildings, Lands, or Hereditaments standing settled
therewith, to the same or the like Uses, Intents, or Purposes; or where
such Money shall not be so applied, then the same shall be laid out and
invested, under the like Direction and Approbation of the said Court, in
the Purchase of other Buildings, Lands, or Hereditaments, which shall be
conveyed and settled to, for, and upon such and the like Uses, Trusts,
Intents, and Purposes, and in the same Manner as the Buildings, Lands, or
Hereditaments which shall be so purchased, taken, or used as aforesaid,
stood settled or limited, or such of them as at the Time of making such
Conveyance and Settlement shall be existing undetermined and capable of
taking Effect; and in the mean Time and until such Purchase shall be
made, the said Money shall, by Order of the Court of Chancery, upon
Application thereto, be invested by the said Accountant General, in his
Name, in the Purchase of Three Pounds _per Centum_ Consolidated or Three
Pounds _per Centum_ Reduced Bank Annuities; and in the mean Time and
until the said Bank Annuities shall be ordered by the said Court to be
sold, for the Purposes aforesaid, the Dividends and annual Produce of the
said Consolidated or Reduced Bank Annuities shall from Time to Time be
paid, by Order of the said Court, to the Person or Persons who would for
the Time being have been entitled to the Rents and Profits of the
Buildings, Lands, or Hereditaments so hereby directed to be purchased, in
case such Purchase or Settlement were made.
Application where the Money does not exceed 200_l._
nor less than 20_l._
XVIII. Provided always, and be it further enacted, That if any Money so
agreed or awarded to be paid for any Buildings, Lands, or Hereditaments
purchased, taken, or used for the Purposes aforesaid, and belonging to
any Corporation, or any Person or Persons under Disability or Incapacity
as aforesaid, shall be less than the Sum of Two hundred Pounds, and shall
exceed the Sum of Twenty Pounds, then and in all such Cases, the same
shall (at the Option of the Person or Persons for the Time being entitled
to the Rents and Profits of the Buildings, Lands, or Hereditaments so
purchased, taken, or used, or of his, her, or their Guardian or
Guardians, Committee or Committees, in case of Infancy or Lunacy, to be
signified by Writing under their respective Hands), be paid into the
Bank, in the Name and with the Privity of the said Accountant General of
the High Court of Chancery, and be placed to his Account as aforesaid, in
order to be applied in Manner herein-before directed, or otherwise the
same shall be paid (at the like Option) to Two Trustees, to be nominated
by the Person or Persons making such Option, and approved of by Three or
more of the said Commissioners (such Nomination and Approbation to be
signified in Writing under the Hands of the nominating and approving
Parties), in order that such Principal Money, and the Dividends arising
thereon, may be applied in any Manner herein-before directed, so far as
the Case be applicable, without obtaining or being required to obtain the
Direction or Approbation of the Court of Chancery.