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Application of Purchase Money.
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XLIV. That in every Case in which, under the Authority of this Act, any Sale or Conveyance shall be made of any House, Offices, Lands, or Tenements which shall belong to any Corporation, Tenant for Life or in Tail, married Woman seised in her own Right or entitled to Dower, Guardian or Committee of any Lunatic or Idiot, Trustee, Executor, or Administrator, or other Person having a partial or qualified Interest only in such House, Office, Lands, or Tenements, and not entitled to sell or convey the same except under the Provisions of this Act, except in the Case of the Ecclesiastical Commissioners for Ireland aforesaid, the Purchase Money thereof shall be paid into the Bank of Ireland, with the Privity of the Accountant General of the Court of Chancery in Ireland, to be placed there to the Account of such Accountant General ex parte the Ecclesiastical Person making such Purchase, and in the Matter of this Act, pursuant to the Method by any Act for the Time being for regulating Money paid into the said Court; and such Monies shall remain so deposited until the same shall be applied to some One or more of the following Purposes; that is to say, first, in the Discharge of any Debt or Incumbrance affecting the same Lands, Tenements, or Hereditaments, or any other Lands, Tenements, or Hereditaments settled therewith to the like Uses or Trusts, or in the Purchase of other Lands, Tenements, or Hereditaments to be conveyed, limited, and settled to the like Uses and Trusts and in the same Manner as the said Lands, Tenements, or Hereditaments stood settled to, or such of them as shall be then existing and unsatisfied; and in the meantime, and until such Purchase shall have been made, the said Money shall, by Order of the Court of Chancery, upon Application thereto, be invested by the said Accountant General in his Name in some one of the Public Funds of the Kingdom, and the Dividends and annual Produce thereof shall from Time to Time be paid, by One Order or several Orders of said Court, to the Person or Persons who would have been entitled to the Rents, Issues, and Profits of the Lands, Tenements, or Hereditaments in case no Purchase and Conveyance thereof had been made under the Provisions of this Act.
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