at rack rent) and all committees of lunatics or idiots, and guardians of infants, and all executors and adminiftrators, and all other trustees whatsoever, may contract with the faid commiffioners to be appointed for the faid purposes; and that perfons in the actual poffeffion, or beneficially entitled to the rents and profits of any manors, meffuages, or tenements, (others than tenants at rack rent) fhall be preferred in the purchase of fuch land tax to perfons in remainder, reverfion, or expectancy, provided they offer to contract for the redemption of fuch land tax on or before a day to be fpecified; but that the perfons in remainder, reverfion, or expectancy, fhall be entitled to redeem fuch land tax, in preference to any other perfons having no eftate or intereft therein, according to the priority of fuch their respective eftates or interefts, and in the order in which they will be rofpectively entitled to fucceed to the faid manors, meffuages or tenements; and that in cafe of demife at rack rent, the perfons beneficially entitled to the rent fhall (notwithstanding any covenant) be confidered as being in the actual poffeffion of fuch manors, meffuages, or tenements, for the purpofe of claiming fuch benefit of preference, with power to add the amount of the land tax fo purchased to the rent reserved, and to ufe the fame powers for the recovery thereof as for the recovery of rent in arrear; and that on the completion of any contract by the perfon having fuch title to preference, or by any other on his behalf, and payment of the first instalment thereof, the manors, meffuages, or tenements, comprifed in fuch contract shall thenceforth be wholly freed and exonerated from the land tax charged thereon, and from all further affeffments thereof, unless the perfon contracting for fuch land tax fhall, at the time of entering into the contract for the fame, declare his option to be confidered as on the fame footing with a third perfon purchafing the land tax; and that upon every contract to be entered into as aforefaid, upon which the transfer of stock shall be made by inftalments, there fhall be paid at the time of making the fecond inftalment upon fuch contract, and fo of every fubfequent inftalment upon fuch contract into the hands of the cashier, or cashiers of the governor and company of the Bank of England (whofe receipt fhall be a fufficient difcharge) to the ufe of his Majesty, his heirs or fucceffors, a fum of money, by way of intereft, equal to four-fifth parts of the amount of what would have been the produce up to the time of making fuch payment of the whole of the ftock to be transferred upon fuch contract as if the whole of fuch stock had been transferred at the time appointed for making the first instalment thereof, after deducting therefrom the amount of the produce of fuch part of the stock as shall then have been transferred; and in every fuch cafe the perfons beneficially entitled to any eftate in remainder, reverfion, or expectancy, in the manors, meffuages, or tenements, whereof fuch land tax fhall have been fo contracted for, fhall, at any time or times after fuch eftate fhall veft in poffeffion, by reafon of the determination of the next preceding eftate or intereft, be entitled unto an affignment of fuch contract upon transferring to fuch original contractors the like amount of the 3 per centum bank

annuities

annuities as was transferred by fuch original contractors as the confideration for the redemption of fuch land tax, or upon paying to fuch original contractors at their option, fuch a fum as fhall be of equal value therewith at the time of fuch conveyance, and to the fame option to be confidered on the footing of a third perfon, with refpect to fuch land tax as the perfon or perfons first redeeming the fame might have.

That it is the opinion of this Committee, that all bodies politic or corporate, and other perfons being in the actual poffeffion, or entitled beneficially to the rents and profits of any manors, meffuages, or tenements, may fell any part or parts thereof for the purpofe of redeeming or purchafing fuch land tax, or charge the faid manors, meffuages, or tenements, with fuch fum or fums of money as fhall be fufficient to redeem or purchase the land tax charged thereon; and for fecuring the repayment of fuch fums of money with intereft may convey, furrender, or demife the fame by way of mortgage; or may grant, limit, or appoint any yearly fum or fums of money, by way of a perpetual rent charge, not exceeding the amount of the land tax charged upon the faid manors, meffuages, or tenements, to be illuing out of, and charged upon fuch manors, meffuages, or tenements: And every fuch fale, conveyance, mortgage or grant of any rent-charge, fhall, after the fame fhall be duly enrolled, be good, valid, and effectual in the law, to all intents, notwithstanding any defect of title in any of the parties thereto; and the refpective perfons to whom any fuch fale or mortgage fhall be made, or any fuch rent-charge shall be granted, fhall refpectively hold, the manors, meffuages, or tenements, or the faid rent-charges, freed and abfolutely dif charged from all former titles, charges, and incumbrances whatfoever; and that wherever there fhall be any furplus after paying fo much as thall be fufficient for the purchafe of 3 per cent. annuities to be transferred as the confideration for fuch land tax, the faid furplus fhall be paid into or placed in the Bank of England in the name and with the privity of the accountant-general of the court of chancery, to the intent that fuch furplus money may be invefted, as foon as conveniently may be, under the direction, and with the approbation of the faid court, in the purchase of other eftates to be conveyed to the like ufes, and in the fame manner as the fame ftood fettled; and in the mean time fuch furplus to be invefted in government, or other public fecurities, in the name of the faid accountant-general, and the dividends and annual produce thereof fhall, from time to time, belong to the perfon, who would, for the time being, have been entitled to the rents and profits of the manors, meffuages, or tenements purchased.

"That it is the opinion of this Committee, that if within a time to be named no contract fhall be entered into with the commiffioners to be appointed for the redemption or purchase of the land tax, or any part or parcel thereof, charged in any parish or place by any perfon entitled to the benefit of preference, or by any perfon fubftituted in that behalf, the faid commiffioners may then put up to fale, either by public auction or otherwife, as the commiffioners

5 A 2

commiffioners of the treafury for the time being fhall direct, the whole or any part or parcel of the faid land tax charged in any county, or divifion of any county, or in any parish or place, or any specific fhare or fhares thereof, or any land tax charged on any particular eftate or cftates, or any part or parcel thereof, which thall not be redeemed or purchafed within the faid period, and to contract and agree with any perfons for the fale of the fame, fubject to a provifo for the redemption of fuch land tax, at the time and in the manner to be provided; and the manors, meffuages, or tenements whereon the land tax purchafed is charged, fhall be fubject to a new affeffment from year to year by an equal pound rate, according to the value thereof, in common with all other eftates in the fame parish which fhall remain chargeable to the land tax; and the confi deration fhall be the transfer of ftock in the 3 per centum annuities, transferable at the Bank of England as aforefaid, of the like amount as is hereinbefore directed unto the commiffioners appointed for the reduction of the national debt, to be made within the period of one year from the time of entering into fuch contract, by four instalments of not less than onefourth part of the whole amount of the flock to be fo transferred as aforefaid, at intervals of three months from each other, the tranf fer of such stock for the first instalment to be made at the end of three months from the time of entering into fuch contract, but with liberty to contract and agree with the faid commiflioners to be appointed, to transfer the whole of the stock agreed to be transferred as the confideration for fuch redemption, or purchase, at the time. prefcribed for the transfer of the first instalment thereof, or to transfer fuch ftock in any great proportions and in any lefs number of inftalments than are before prefcribed, fo as that fuch inftalments fhall not be made at a greater interval than three months from each other; and that fuch rate or intereft fhall be payable as in the cafe of land tax redeemed by perfons having a title to preference, and fuch perfons fhall be entitled to demand and receive, for their own ufe, the full amount of the land tax purchased by them, free of all charges and deductions whatever, at the refpective times, and in the refpective proportions, at which the fame fhall be payable, but which fhall be redeemable by the perfon or perfons refpectively entitled to the benefit of preference in refpect to their tenure in the faid manors, meffuages, or tenements, at the period to be limited for the redemption of the fame.

"That it is the opinion of this Committee, that the non-performance of any contract fhall fubject the party contracting to a pecuniary penalty, not exceeding part of the purchase money. And that if any perfon or perfons fhall enter into any fuch contract as aforefaid for the redemption or purchafe of any fuch land tax, and fhall afterwards refufe or neglect to complete the fame by the due and regular transfer of the feveral inftalments agreed to be made thereon, then and in every fuch cafe, and immediately after de fault fhall be made in the transfer of any of the faid inftalments, fuch contract fhall become null and void; and the whole of the

land

land tax fo contracted for (in cafe the fame fhall have ceafed by virtue of this aft) shall be revived and again become chargeable on the manors, meffuages or tenements, where on the fame was charged prior to fuch contract, and fuch land tax, (whether the fame shall have been redeemed or purchased) fhall be again affeffed, raifed, levied, and collected, for the ufe of his Majefty, his heirs, and fucceffors, in the fame manner as if fuch contract had not been entered into. And the Court of Exchequer, on the application of the perfon who shall have incurred fuch penalty, or any other perfon who may be prejudiced thereby, by petition, to be preferred in a fummary way, may enlarge the time for the making good any fubfequent inftalment or inftalments, and grant fuch relief to the party or parties as to the said Court shall feem meet.

"That it is the opinion of this Committee, that the receivergeneral of each county, riding, or place, where any fuch land tax fhall remain chargeable as aforefaid, after the fame fhall have been purchafed not as a specific charge on any manors, meffuages, or tenements, in fuch parish or place, or his deputy or deputies, fhall, before fuch land tax fhall have become due and payable, on the 20th of September, for the half year ending on the 29th of September, and on the 16th of March, for the half year ending on the 2th of March, in every year upon demand, pay, or caufe to be paid, to the purchaser or purchafers thereof, or the heirs, executors, adminiftrators, or affigns, of fuch purchafer or purchafers refpectively, the full amount of the land tax fo purchased, free of ail charges and deductions whatever, without fee or reward, out of any public monies in his hands, in the manner to be provided. And that where any purchase shall be made of any land tax as a fpecific charge on any manors, meffuages, or tenements, or where any perfon, &c. entitled to preference fhall have made his option, to be confidered on the footing of a third perfon purchafing the land tax, and any abatement fhall afterwards take place in the fum fo charged, the receiver-general fhall, upon the production of the certificate of fuch abatement, pay the full amount thereof, free of all charges and deductions whatever, and without fee or reward, to fuch perfon or perfons as aforefaid, in like manner, and out of fuch monies, and at fuch times of payment as is directed for the payment of the whole of the land tax purchafed. And that in default of fuch payment by the receiver-general or his deputy, the purchafer or his heirs, executors, adminiftrators, or affigns, of fuch purchafer may cause notice of fuch default to be given to the occupier of the manors, meffuages, or tenements, on which the land tax fo purchased fhall be charged; and fuch occupier fhall be obliged to pay the fame upon demand, unless he fhall have previoully paid the fame, for want of fuch notice, to the collector of the parish; or, unless the yearly value of the eftate, whereon fuch land tax fhall have been charged (eftimating fuch value by the rack rents and the higheft improvements made thereof) fhall be reduced fo that the eftate fhall be charged with a higher rate than four hillings in the pound on fuch value, in which cafe the occupier hall not be liable to the payment of any greater fum than after the

rate

rate of four fhillings in the pound on fuch value; or unless the land tax fhall by any abatement thereof be reduced to a fum lefs than the fum charged on the fame manors, meffuages, or tenements, at the time of the purchase; in which cafe fuch occupier shall not be liable to the payment of any greater fum than the fum actually charged on fuch manors, meffuages, or tenement, at the time of the demand, with the like remedy for the recovery as landlords may by law have for the recovery of rent in arrear. And that in cafe of any diminution of the fum to be paid to the purchaser of any land tax, by reafon of any reduction in the value of the estate charged therewith, the purchaser shall have the option of continuing to receive a fum neceflary to complete, in each year, the whole annual amount of the fum originally purchafed by him, or to demand of and from the commiffioners for the reduction of the national debt a transfer of fo much capital ftock in the 3 per cent Bank annuities as fhall yield an intereft exceeding the amount of fuch abatement by 1-5th part thereof.

"That it is the opinion of this Committee, that if the receivergeneral of any county where any land tax fhall be purchased, not as a fpecific charge upon any particular manors, mefluages, or tenements, in any parish or place, but a charge upon fuch parish or place at large, or upon fuch part thereof as fhall continue chargeable, fhall neglect to pay to the purchaser of any land tax the full amount of the land tax fo purchafed, the purchafer may caufe notice of fuch default to be given to the collector of the faid 'and tax, and of his intention to receive the land tax in future from fuch collector; and on fuch notice, every fuch purchafer fhall be entitled to receive the amount of fuch land tax from fuch collector accordingly. Or if fuch receiver-general where any land tax fhall be purchafed as a fpecific charge on any particular eftate or eftates, or where any land tax fhall be redeemed by the perfon entitled to preference, who fhall have made his option, to be confidered on the footing of a third perfon purchafing the land tax, and any abatement fhall afterwards take place in the fum fo charged, fhall neglect to pay to the perfon entitled to fuch land tax the full amount of fuch abatement, fuch purchafer may cause the like notice to be given to the collector to entitle fuch purchafer to the land tax fo purchafed from fuch collector in the manner before directed; and that every fuch collector, on the production of the contract of purchafe, fhall, from time to time, pay, or caufe to be paid, to fuch purchafer, the full amount of the land tax purchased, free of all charges and deductions whatever, and without fee or reward, out of any monies in the hands of fuch collector, arifing from the produce of the land tax in fuch parish or place, unless fuch collector fhall, for want of fuch notice as aforefaid, have paid the whole of the land tax charged in fuch parish or place to the receiver-general of the county.

"That it is the opinion of this Committee, that if any affeffment of land tax which fhall continue to be charged fhall at any time be found to exceed the rate of four fhillings in the pound on the annual value of the manors, meffuages, or tenements, the fame

fhall