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Application of Compensation Money when amounting to or exceeding 200l.
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LXXVI. And be it enacted, That if any Money shall be adjudged or awarded to be paid for any Land purchased, taken, or used by virtue of the Powers of this Act, or as Compensation for any Damage or Injury to any to Land which shall belong to any Corporation, or to any Trustee or Feoffee, Executor or Administrator, or any Husband, Guardian, or Committee for or on behalf of any Feme Covert, Infant, Idiot, or Lunatic, or to a Tenant for Life, or any Person who shall have no Power to give a valid Receipt for the same, or to sell or convey the same Land, otherwise than by virtue of this Act, such Money shall, in case the same shall amount to or exceed the Sum of Two hundred Pounds, with all convenient Speed be paid into the Bank of Ireland in the Name and with the Privity of the Accountant General of the Court of Chancery or Exchequer, to be placed to his Account there ex parte the Commissioners for executing this Act, setting forth the Title hereof, and without Fee or Reward; and shall, when so paid in, there remain until the same shall, by Order of the said Court, made upon a Petition to be preferred to the said Court in a summary Way by the Person who would have been entitled to the Rents and Profits of the said Land, be applied in or the towards Discharge of any such Debt or other Incumbrance affecting the same Land, or any other Land or Properly standing settled therewith to the same or the like Uses, Trusts, Intents, and Purposes as the said Court of Chancery or Exchequer shall authorize to be paid, or such Part thereof as shall be necessary; or the same Money shall, upon the like Application, in a summary Way, be laid out, by Order of the said Court, in the Purchase of other Land, which shall be conveyed, limited, and settled to, for, and upon such and the like Uses, Trusts, Intents, and Purposes, and in the same Manner, as the Land which shall be so purchased, taken, or used, or damaged or injured as aforesaid, stood settled or limited, or such of them as shall be then existing undetermined or capable of taking effect; and in the meantime and until such Order can be obtained the said Money may, by Order of the said Court upon Application thereto, be invested by the said Accountant General, in his Name, in the Purchase of any Stocks, Funds, or Annuities transferable at the Bank of Ireland; and in the meantime, and until the said Stocks, Funds or Annuities shall be sold by Order of the said Court for the Purpose aforesaid, the Dividends or Annual Produce thereof shall from Time to Time be paid to the Person who would for the Time being have been entitle to the Rents and Profits of such Land so to be purchased, conveyed, and settled.
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