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To enforce Punctuality, the Commissioners to take a Bond to His Majesty, for Payment of Instalments with Interest.
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LXXXV. And be it further enacted, That in order to enforce the punctual Payment and Discharge of such Sums as shall be so lent and advanced in pursuance and by virtue of the Provisions of this Act, it shall and may be lawful for the said Commissioners appointed under this Act for the Time being, and they are hereby required, to take and receive, previous to the advancing of any Sum of Money to any such Incumbent, a Bond from such Incumbent, which Bond shall not be subject to any Stamp Duty, binding him, with One or more sufficient Sureties, and them, his and their Heirs, Executors, and Administrators, jointly and severally, to the King’s most Excellent Majesty, His Heirs and Successors, in a Penalty amounting to Double the Sum advanced, conditioned for the due Application of the Money so to be advanced within Two Years from the Advance, or for refunding to the said Commissioners so much of the said Money as shall not be so applied within such Time, and for the Payment to the said Commissioners of all such Instalments of the said Sum or Sums at the several Times before mentioned as may severally become due during his Incumbency, with legal Interest on such Instalments respectively from the respective Time when each Instalment ought to have been paid until the actual Payment thereof; which Bond shall have the same Force and Effect as Bonds to the King’s most Excellent Majesty, and for His Use, have by virtue of an Act passed in Ireland in the Twenty-first and Twenty-second Years of the Reign of King George the Third, intituled An Act for the more speedy and effectual Recovery of the King’s Debts, and Suits shall and may be prosecuted and carried on upon such Bonds, by the Orders and under the Directions of the said Commissioners, for the Recovery of the Money which shall be due thereon, in such and the same Manner as Suits on Bonds to the King’s Majesty may be prosecuted by virtue of the said Act.
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