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An Act to alter and amend an Act made in the Twenty-first and Twenty-second Years of his present Majesty’s Reign, entitled, An Act to enable the Governors of any of the Schools founded in this Kingdom, to make long Leases of such Lands as have been granted for the Support of the said Schools, and are situate in Counties of Cities, and Counties of Towns.
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WHEREAS by the said recited act it is enacted, That it shall and may be lawful for the said respective governors under the several provisoes in the said act mentioned, to make any leases of any part of the said lands so situate as aforesaid, for any term not exceeding forty-one years, and to renew the said leases from time to time, taking sines for such renewals to be applied to the credit of the funds of the said schools, provided the lands to be severally demised by virtue of the said act, should not contain in the whole more than the quantity of twenty acres plantation measure.
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Tenants to whom leases have been or shall be made pursuant to said act, or their executors, &c who apply for renewals within seven years after commencement of their leases, and shall pay one year’s rent as a fine, and so in proportion according to the number of years not exceeding seven so elapsed, and also the expences of preparing two parts of such new lease, the governors compelled to renew for 41 years.
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II. And whereas it would be an encouragement to the said tenants to build and improve on any lands demised or to be demised, pursuant to the powers and provisoes in the said act contained, and would increase the funds for the support of the said schools, that the terms of the said renewal, and the time within which the same may be had, should be precisely ascertained; be it enacted by the King’s most excellent Majesty, by and with the advice and consent of the lords spiritual and temporal, and commons in this present parliament assembled, That all and every tenant and tenants to whom leases have been or shall be made, pursuant to the powers and provisoes in the said act contained, his or their executors, administrators or assigns, who shall apply for a renewal or renewals of such lease or leases, within seven years after the commencement of their respective leases, or within seven years after any renewal which shall be made in pursuance of this act, and of the said recited act, and shall pay down one year’s rent as a fine for every renewal, and so proportionably according to the number of years not exceeding seven, or part of a year that shall have so elapsed as aforesaid, and shall also pay down the costs of preparing two parts of such new lease; that in every such case, the respective governors of the said schools shall be compelled to renew the said lease for the term of forty-one years.
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No relief to tenants who suffer seven years to elapse.
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III. Provided always, That no tenant or any person deriving by, from, or under him shall have any benefit whatever by this act, or shall have any relief in law, or in equity under the same, who shall suffer seven years to elapse from the commencement of his last lease or renewal, without performing the several requisites by this act prescribed, but the case of every such tenant, and of all persons deriving by, from and under him shall be considered to all intents and purposes as if this act had never been made.
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