NAVAL AGENCY AND DISTRIBUTION ACT 1864 - SECT 17 Exemption from stamp duty.

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NAVAL AGENCY AND DISTRIBUTION ACT 1864 - SECT 17

Exemption from stamp duty.

17. All forfeited and unclaimed shares and balances of prize money, and a
per-centage of five pounds in every one hundred pounds out of the proceeds of
all prizes, and out of all grants to the Royal Navy and Marines, and out of
all bounty money, and also out of all other money distributable in the several
cases aforesaid among the officers and crew of any of Her Majesty's ships of
war out of which such per-centage is at the commencement of this Act by law
deducted, shall, under the direction of the Admiralty, continue to be carried
to and to form part of the naval prize cash balance.So much of the naval prize
cash balance as the Admiralty think expedient shall from time to time by Her
Majesty's Paymaster General, under the authority and direction of the
Admiralty, be paid and transferred to the Consolidated Fund of the United
Kingdom.

In case at any time a claim in respect of prize or bounty money is made which
the naval prize cash balance is not sufficient to meet, there shall be paid
out of the said Consolidated Fund a sufficient sum to meet such claim.

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Northern Irish Legislation

NAVAL AGENCY AND DISTRIBUTION ACT 1864 - SECT 17