Defence Act 1842

27 Investment of purchase money when less than 200l. E+W+N.I.

Provided always, that in case such purchase money as is lastly herein-before mentioned 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 messuages, buildings, castles, forts, lines, or other fortifications, manors, lands, tenements, or hereditaments, so purchased, or of his, her, or their guardian or guardians, committee or committees, in case of infancy or lunacy, to be signified in writing under their respective hands, be paid into the hands of the said remembrancer, Queen’s remembrancer, or other public officer respectively of the said Court of Exchequer, in order to be applied in manner herein-before directed; or otherwise the same shall be paid, at the like option, to three trustees, to be nominated by the person or persons making such option, and approved of by the said principal officers, or any three or more of them, such nomination or approbation to be signified in writing, under the hands of the nominating and approving parties, in order that such principal money may be invested in the purchase of stock in the public funds, and that such stock, when purchased, and the dividends arising therefrom, may be applied in manner herein-before directed, so far as the case be applicable, without obtaining or being required to obtain the order, direction, or approbation of the said Court of Exchequer.

27 Investment of purchase money when less than 200l. S

Provided always, that in case such purchase money as is lastly herein-before mentioned 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 messuages, buildings, castles, forts, lines, or other fortifications, manors, lands, tenements, or hereditaments, so purchased, or of his, her, or their guardian or guardians, committee or committees, in case of [F1 persons under legal disability by reason of nonage or of][F2mental incapacity], to be signified in writing under their respective hands, be paid into the hands of the said remembrancer, Queen’s remembrancer, or other public officer respectively of the said Court of Exchequer, in order to be applied in manner herein-before directed; or otherwise the same shall be paid, at the like option, to three trustees, to be nominated by the person or persons making such option, and approved of by the said principal officers, or any three or more of them, such nomination or approbation to be signified in writing, under the hands of the nominating and approving parties, in order that such principal money may be invested in the purchase of stock in the public funds, and that such stock, when purchased, and the dividends arising therefrom, may be applied in manner herein-before directed, so far as the case be applicable, without obtaining or being required to obtain the order, direction, or approbation of the said Court of Exchequer.