Probate and Legacy Duties Act 1808

XIVPromissory Notes, re-issuable for limited Periods, to be cancelled on Payment afterwards; and Notes, &c. not re-issuable to be cancelled immediately on Payment. Penalty for re-issuing Notes, &c. contrary to Law, and for not cancelling the same. Penalty on taking Notes re-issued contrary to Law.

And be it further enacted, That from and after the passing of this Act all Promissory Notes allowed to be re-issued by the said Act of the Forty-fourth Year of His Majesty's Reign, or by this Act, for the Term of Three Years from the Date thereof, but not afterwards, shall, upon the Payment thereof, at any Time after the Expiration of Three Years from the Date thereof, and all Promissory Notes hereby allowed to be re-issued until the Twenty-fourth Day of June One thousand eight hundred and nine inclusive, but not afterwards, shall, upon the Payment thereof at any Time after the said Twenty-fourth Day of June One thousand eight hundred and nine, and all Promissory Notes, Bills of Exchange, Drafts, or Orders for Money, not allowed to be re-issued, shall, upon any Payment thereof, respectively be deemed and taken to be thereupon wholly discharged, vacated, and satisfied, and shall be no longer negotiable or available in any Manner whatsoever, but shall be forthwith cancelled by the Person or Persons paying the same; and if any Person or Persons shall re-issue or cause or permit to be re-issued any Promissory Note, so allowed to be re-issued as aforesaid, at any Time after the Expiration of the Term or Period allowed for that Purpose; or if any Person or Persons shall re-issue or cause or permit to be re-issued any Promissory Note, Bill of Exchange, Draft, or Order for Money, not allowed to be re-issued, at any Time after the Payment thereof; or if any Person or Persons paying or causing to be paid, any such Note, Bill, Draft, or Order as aforesaid, shall refuse or neglect to cancel the same, according to the Directions of this Act; then and in either of those Cases the Person or Persons so offending shall, for every such Offence, forfeit the Sum of Fifty Pounds; and in case of any such Note, Bill, Draft, or Order being re-issued, contrary to the Intent and Meaning of this Act, the Person or Persons re-issuing the same, or causing or permitting the same to be re-issued, shall also be answerable and accountable to His Majesty, His Heirs and Successors, for a further Duty, in respect of every such Note, Bill, Draft, or Order, of such and the same Amount as would have been chargeable thereon, in case the same had been then issued for the first Time, and so from Time to Time as often as the same shall be so re-issued ; which further Duty shall and may be sued for and recovered accordingly as a Debt to His Majesty, His Heirs and Successors; and if any Person or Persons shall receive or take any such Note, Bill, Draft, or Order, in Payment of or as a Security for the Sum therein expressed, knowing the same to be re-issued contrary to the Intent and Meaning of this Act, he, she, or they shall for every such Offence forfeit the Sum of Twenty Pounds.