Settled Land (Ireland) Act 1847
SETTLED LAND (IRELAND) ACT 1847 | ||
CAP. XLVI. | ||
An Act to facilitate the temporary Investment of Trust Monies in the Improvement of Landed Property in Ireland. [25th June 1847.] | ||
Trustees, &c. of settled Estates may petition the Court of Chancery in Ireland for Permission to lay out Money in Improvements. | ||
‘WHEREAS it is expedient that further Facilities should be given for the permanent Improvement of Lands in Ireland: And whereas it may happen that there are now or hereafter may be in the Hands or standing to the Account of Trustees or a Trustee of a Settlement or Will or Codicil Monies produced by the Sale or received for Equality of Exchange of settled Estates or Hereditaments in Ireland under a Power of Sale or Exchange, or under Trusts for Sale, in such Settlement or Will or Codicil contained, or Stocks or Securities purchased with such Monies, and which Monies are liable to be laid out in the Purchase of other Estates or Hereditaments in Ireland or elsewhere, to be settled to the same or the like Uses or upon and for the same or the like Trusts and Purposes as the Estates or Hereditaments from the Sale or Exchange of which such Monies were produced, and there may be now or hereafter Monies in the Hands or standing to the Account of Trustees or a Trustee of a Settlement, Will, or Codicil produced by a Sale or Sales of settled Lands or Hereditaments in Ireland, compulsorily or otherwise, made to or for the Purposes of a Railway or other public Work, or other Monies, Stocks, or Securities liable to be laid out in the Purchase of Lands or Hereditaments, and which Monies respectively may be advantageously advanced for the Purpose of being laid out in the permanent Improvement of the Lands or Hereditaments remaining unsold or in Settlement for the Time being, and there may be now or hereafter Monies or Stocks or Securities in the Hands or standing to the Account of Trustees or Guardians for Infants or others under legal Disability, or Monies of Persons of unsound Mind, which may be advantageously advanced for the Purpose of being employed in the permanent Improvement of the Estates of such Infants, Persons of unsound Mind, or others under legal Disability ;’ Be it therefore enacted by the Queen’s most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament, assembled, and by the Authority of the same, That it shall be lawful for any such Trustee or Trustees (with the Consent of any Person or Persons beneficially interested, in possession, if of full Age), or Guardian or Guardians, and for the Committee or Committees of any Persons of unsound Mind, and they are hereby authorized, to apply to the High Court of Chancery in Ireland, by Petition to the Lord High Chancellor, praying that he or they may be authorized to make any such permanent Improvements of any such Lands or Hereditaments in Ireland respectively as aforesaid, by laying out and expending thereon any Sum or Sums proposed by such Petition in such Manner as therein may be mentioned and described, and in such Petition to pray that the Expences of making any such permanent Improvements may be defrayed, by Advances out of any such Monies or Funds in the Hands or to the Account of such Trustees or Guardians or others as aforesaid. |