Duchy of Cornwall Act 1844

XIV Application of Purchase Money in case of Purchase from Persons incapacitated.

And be it enacted, That where any Purchase shall be made from any Body Politic, Corporate, or Collegiate, or Person under any Disability or Incapacity, or not having Power to sell, except under the Provisions herein-before contained, the Purchase Money, in case the same shall amount to the Sum of Fifty Pounds, shall with all convenient Speed be paid into the Bank of England, with the Privity of the Accountant General of the Court of Chancery, to be placed to the Account of such Accountant General ex parte the Duke of Cornwall, without Fee or Reward; and 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, or otherwise, as the said Court shall think just and equitable, for the Benefit of the Party or Parties who shall have been interested in or entitled to such Property; and in the meantime, until the same shall be so applied, the said Money shall, by Order of the said 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 Bank Annuities; and the Dividends and annual Produce of the said Consolidated 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 Property sold ; but such Money, in case the same shall not amount to the Sum of Fifty Pounds, shall be applied, in such Manner as the Council of His said Royal Highness shall think fit, for the Benefit of the Party or Parties who shall have been interested in or entitled to such Property.