Duchy of Cornwall Management Act 1868

C1C2Whereas by “The Duchy of CornwallM1Management Act 1863,” Section Eight, Advances are authorized to be made out of the Capital Funds of the Duchy of Cornwall, for the Purpose of permanently improving the Possessions thereof, by Inclosure or by erecting Buildings or executing Drainage or other Works thereon, such Advances to be repaid to the Capital from the Revenues of the said Duchy by annual Instalments of not less than One Thirtieth Part thereof in every Year, but subject to a Proviso that the Amount so to be advanced and not repaid shall not at any One Time exceed the Sum of Thirty thousand Pounds:

And whereas the Limitation of such Advances to the Sum of Thirty thousand Pounds mentioned in the said Act prevents the Execution of necessary Works which are essential to the permanent Improvement of the Possessions of the said Duchy, and it is expedient that the same Limitation be rescinded:

And whereas amongst the Possessions of the Duchy of Cornwall there is a large Extent of House Property at present of an inferior Class, in bad Repair, and on which a large Outlay is required, and it is expedient that Power should be given for Advances of Monies out of the Capital Funds of the said Duchy in and towards the Improvement of the same, and it is reasonable that for the Repayment to Capital from the Revenues of the said Duchy of Advances made for the Improvement of such House Property a longer Term than Thirty Years should be allowed: