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Duchy of Cornwall Management Act 1982
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- UK Public General Acts
- 1982 c. 47
- Section 3
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3 Power to charge certain loans on Duchy property.U.K.
(1)Duchy property may be charged with payment of the relevant sums in respect of any loan made to the Duke of Cornwall for the purpose—
(a)of exercising his powers under section 7 of the Duchy of Cornwall Management Act 1863;
(b)of financing the permanent improvement of the possessions of the Duchy of Cornwall,
if the Treasury have authorised the charge on an application made by or on behalf of the Duke of Cornwall.
(2)In subsection (1) above “the relevant sums” means—
(a)the principal of the loan;
(b)interest upon it;
(c)any other money due under it; and
(d)the costs of and incidental to it.
(3)An authorisation may be given under this section for a particular charge or for charges of a particular description and may be given either with or without any condition or restriction, as the Treasury may think fit.
(4)Without prejudice to the generality of subsection (3) above, an authorisation may be given under this section for charges in respect of loans for a particular purpose or not exceeding a specified amount.
(5)Where Duchy property has been charged under this section, any gross sum of money such as is mentioned in section 8 of the M1Duchy of Cornwall Management Act 1863 may be applied in repaying the principal of the loan.
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