then existing Public Work, as fully and effectually as for the Construction as aforesaid of any Public Work, and the Provisions of the said first-recited Act shall extend and be applied to any such Alteration, Extension, or Improvement of any existing Public Work as fully and effectually as to the Construction of any Public Work. V. And be it enacted, That whenever any such Public Work Subsequent shall have been constructed, altered, extended, or improved under Repairs of such the Provisions of the said recited Acts or this Act, it shall and Public Works to be provided may be lawful for the said Commissioners of Public Works from for as under the Time to Time to take such Proceedings and exercise such Powers recited Acts. and Authorities for or relating to the subsequent Repairs and Maintenance of any such Public Work aforesaid, and such subsequent Repairs and Works of Maintenance shall and may be executed, and the Expence thereof shall and may be provided for, raised, and repaid, in such Manner and subject to such Provisions and Regulations as by the said recited Act of the First and Second Years of the Reign of His late Majesty King William the Fourth, or any Act or Acts amending the same, are directed and provided in relation to the Repair or Maintenance of any Road or Bridge in aid of the Construction whereof Grants may be made or have been made by the said Commissioners of Public Works. VI. And whereas by the said recited Act of the First and Advances under 'Second Years of the Reign of His late Majesty King William Public Works the Fourth it is, amongst other things, enacted, that it shall Act on Loan for and may be lawful for the Commissioners for the Execution of of Lands may be Improvements ⚫ the said recited Act to make Advances in aid of the Drainage, made by Board Embankment, reclaiming, or other Improvement of Land, on of Public 'the Credit of Mortgages, Assignments, or other Assurances of Works, repaythe Estate and Interest, Freehold or Leasehold, in such Land able within 20 Years, at such which is to be the Subject of such Drainage, Embankment, Re- Rate of Inteclamation, or other Improvement: Provided always, that it shall rest as in Cases be made out to the Satisfaction of such Commissioners, by com- of other Loans. petent Evidence, accompanied by the Certificate of a skilful Engineer or Surveyor approved of by the said Commissioners, ' that such Drainage, Embankment, Reclamation, or other Im'provement, when completed, will increase the Value of such • Land in the Proportion of at least Ten per Centum on the Sum proposed to be expended thereon; and that a Contract, with Two good and sufficient Sureties, to be approved of by the said • Commissioners, shall be previously made and entered into for the 'full and complete Execution of such Drainage, Embankment, reclaiming, or other Improvement, at and for a Sum not exceeding the Amount of the Advance sought therefor, within a Period to be fixed by the said Commissioners, not exceeding Seven Years from the Date of such Advance; and that in all 'such Cases the whole Amount of such Advance shall be made repayable within Three Years next after the Period so fixed for the Completion of such Drainage, Embankment, reclaiming, or other Improvement, with Interest thereon in the meanwhile at a Rate not less than Five Pounds per Centum per Аппит, 'payable half-yearly, as the said Commissioners shall fix and appoint: And whereas the Provisions of the last-recited Act as to Loans are in part amended by an Act of the Sixth and • Seventh B 3 6 'Seventh Years of the Reign of King Willam the Fourth, for the Amendment of the said last-recited Act; but it is expedient that further Encouragement should be given for the Improve ment of Lands by enabling Parties to obtain such Advances on more favourable Terms, and that for such Purpose the aforesaid • Provision should be further amended;' be it therefore enacted, That it shall and may be lawful for the Commissioners of Public Works in Ireland, if they shall so think fit, subject to such Restrictions and Conditions as are herein-after provided, to make any Loan or Advance as aforesaid for or in aid of the Drainage, Embankment, reclaiming, or other permanent Improvement of Land, upon Application duly made conformably to the Provisions of the said recited Act of the First and Second Years of the Reign of King William the Fourth, and any other Acts amending the same, and this Act, in relation thereto, and which may be approved of by the said Commissioners, and by the Commissioners of Her Majesty's Treasury, or any Three or more of them, upon the Terms and Conditions that the whole Amount of such Loan or Advance shall be made repayable within such Time or Times, not exceeding Twenty Years after the Periods so fixed as aforesaid for the Completion of such Drainage, Embankment, reclaiming, or other permanent Improvement, at such Rate of Interest in the meanwhile, payable half-yearly, as by the said last-recited Act, or any Acts amending the same, is provided with respect to any other Advances by way of Loan thereunder, any thing in the said last-recited Act, or the other Acts amending the same, requiring a different Period of Payment, or a higher or other Rate of Interest on any Loan or Advance for any such Drainage, Embankment, Reclamation, or other permanent Improvement, to the contrary notwithstanding: Provided always, that any such Loan or Advance, and any Charge, Mortgage, Assignment, or other Assurance for securing the Repayment thereof, shall be subject to the several Provisions, Regulations, and Enactments in the said last-recited Act, and the other Acts amending the same, contained in relation to any Loan or Advance or Security thereunder, so far as the same are applicable, and shall not be varied by this Act; and any such Charge, Mortgage, Assignment, or other Assurance for securing the Repayment of any such lastmentioned Loans under this Act shall take Priority of all Charges and Incumbrances whatsoever and whensoever made: And provided further, that no such Charge, Mortgage, or other Assurance to be made as last aforesaid shall have such Priority as aforesaid in any Case where such Loan or Loans shall be made pursuant to the Provisions aforesaid, to or for the Use of any Person or Persons under any legal Disability or Incapacity, or being Tenants for Life, or having only particular or limited Estates or Interests in the Lands whereon the same are to be charged, or whose Estates therein shall be subject to any Incumbrances whatever, unless, previous to the making such Loan or Advance, the Person or Persons to whom or on whose Behalf the same shall be made shall have obtained the Report of One of the Masters of the High Court of Chancery in Ireland, authorizing such Advance to be made, on a Petition to be presented to the said Court pursuant to the Provisions of a certain Act passed in the Eighth and Ninth Years Years of the Reign of Her present Majesty Queen Victoria, intituled An Act to alter and amend an Act passed in the Third 8&9 Vict. c. 56. and Fourth Years of the Reign of Her present Majesty, intituled 'An Act to enable the Owners of Settled Estates to defray the • Expences of draining the same by way of Mortgage,' and such Report shall have been duly filed and absolutely confirmed according to the Provisions of the same Act, and which Provisions shall be applicable to Advances to be made under this Act in the same Manner as if the same were here repeated. VII. And whereas by reason of such Advances in aid of per- Persons under 'manent Improvements of Lands it may be expected that great legal Disability • Benefit will accrue to the Proprietors thereof, and that the Value may charge the 'thereof will be considerably increased; and it is expedient, with Lands improved to secure Re'the Sanction of the High Court of Chancery, to be obtained on payment of such ⚫ such Petition as aforesaid in manner aforesaid, to enable Tenants Loans for Imfor Life, and others having only particular Estates, and Persons provements. ' under legal Disability or Incapacity, or Persons whose Lands ' are incumbered, to charge on such Lands Monies so to be ، advanced for the Purposes of such Improvements ;' be it therefore enacted, That it shall and may be lawful for any Corporation, lay or ecclesiastical, sole or aggregate, and for the Husbands, Trustees, Committees, or Attornies of or for the Owners or Proprietors of, or for any Company or Companies, or the Directors thereof for the Time being, interested in, any Part or Parts of any such Lands in or for or in aid of the Drainage, Embankment, reclaiming, or other permanent Improvement of which any such Loan or Advance shall be agreed to be made by the said Commissioners of Public Works, in pursuance of the said last-recited Act, or the other Acts amending the same, and this Act, being under Coverture, Minors, Lunatics, or beyond the Seas, or otherwise incapable of acting for themselves, and to and for every of them for the Time being, and to and for the Owners and Proprietors of all such Lands, being Tenants in Tail or for Life, or Tenants in Tail after Possibility of Issue extinct, or Tenants by the Courtesy or in Dower, and for Persons whose Estates are incumbered as herein-after mentioned, and to and for every of them respectively for the Time being, by and with the Sanction and Approbation of the High Court of Chancery, to be obtained in manner aforesaid, by Indenture or Indentures under their respective Hands and Seals, from Time to Time, and to which Indenture or Indentures One of the said Commissioners shall be an executing Party, and before obtaining any Advance on account of such Loan from the said Commissioners, subject to such Restrictions and Conditions as are herein-after provided, to charge the said Lands with any Sum or Sums of Money which the said Commissioners shall advance in or for or in aid of any such Drainage, Embankment, reclaiming, or other permanent Improvement thereof as aforesaid; and for securing the Repayment by Instalments of such Sum or Sums of Money which the said Commissioners shall so advance, with Interest from the Date of the Advance thereof, with the Approbation of the Court of Chancery, to be obtained in manner aforesaid, to grant, mortgage, lease, or demise or otherwise subject the said Lands unto the said Commissioners of Public Works, or to the Secretary of the said Commissioners, in trust B 4 for Advances to be by Instalments not exceeding One Fifth of Sum advanced. Incorporated Companies for Improvement of Land in Ireland empowered to borrow Money from the Commissioners. for them, either in Fee or for any Term of Years, so as every such Grant, Mortgage, Lease, or Demise be made with a Proviso or Condition to cease and be void, or under an express Trust to be surrendered, in case and so soon as the Sum or Sums of Money thereby to be secured, with the Interest for the same, shall be fully paid and satisfied at the Time or Times to be appointed in that Behalf, and also with a Covenant to pay the Instalments as they shall become due, and to pay and keep down the Interest in the meanwhile; and in the Case of every such Grant, Mortgage, Lease, or Demise, such Person or Persons or Bodies as aforesaid, as the Case may be, and every succeeding Tenant for Life, or other Person or Persons having only a limited Interest in the Lands charged, shall be bound to pay the Instalments of Principal and the Interest which shall become from Time to Time due and payable during the Continuance of his, her, or their Title in or to the said Lands; but nevertheless, on the Termination of such Title, by Death or otherwise, the Estate in remainder or reversion in such Lands, or the Inheritance thereof, shall remain chargeable with all Instalments, and Interest and Arrears thereof, then due or thereafter to become due; and every such Charge, Grant, Mortgage, Lease, or Demise as aforesaid shall be good, valid, and effectual in the Law for the Purposes hereby intended, and shall take Priority of all Charges and Incumbrances whatsoever and whensoever made: Provided always, that it shall be lawful for any Person or Persons liable to repay any Loans and Interest by Instalments under any of the Provisions aforesaid to repay the same in One Sum, or in a shorter Time than that in which the same shall be made repayable under the Provisions aforesaid. VIII. And be it enacted, That every Loan or Advance to be made by the said Commissioners of Public Works for any such last-mentioned Works or Improvements as aforesaid under the Provisions hereof shall be made by Instalments not exceeding at any One Time One Fifth of the entire Sum agreed to be advanced; and that no Second or subsequent Instalment of any such Loan shall be advanced until it shall have been proved to the Satisfaction of the said Commissioners that the preceding Instalment has been properly expended on such Works or Improvement pursuant to the Application for such Work approved by the said Commissioners: Provided always, that no one Instalment shall in any Case exceed Three hundred Pounds. 6 IX. And whereas Societies or Companies incorporated by an 'Act of Parliament or established by Charter in Ireland or in ، England, for the Improvement of Land in Ireland, or for reclaiming Land in Ireland, may be desirous of applying for Advances of Money under the Provisions of this Act and the ( Acts herein recited, but Doubts may arise whether such Societies ' are within the Provisions of the Acts herein recited, and 'whether they are authorized to borrow Money, by reason of the Absence of special Authority in their Acts or Charters of 'Incorporation, or by reason of the Powers to borrow therein con'tained not having arisen or being inapplicable to the Securities which must be taken under the said recited Acts and this Act;' be it enacted, That it shall and may be lawful for the Trustees or Directors 10 Directors of any such Society or Company incorporated by Act of Parliament or by Royal Charter for the Improvement of Land in Ireland, or for reclaiming Land in Ireland, to convene a Special General Meeting of the Shareholders, with such Notice as may be required by the respective Act or Charter of Incorporation, and specifying in such Notice the Object of such Meeting, and to submit to such Meeting a Proposition for borrowing Money under the Provisions of this Act; and if the Majority of the Shareholders present at such Meeting shall authorize the Directors to borrow a Sum of Money under the Provisions of this Act, it shall and may be lawful for the said Commissioners of Public Works, if they shall think fit, upon the Application of the Trustees or Directors of such Society or Company, to advance any Sum of Money not exceeding the Sum by such Resolution of the Special Meeting authorized, upon the Security herein-after mentioned; and such Trustees or Directors shall and may mortgage, assign, or charge all or any Part of the Property of such Society or Company, or all or any of the Interests of such Society or Company in the Leases of Lands which they may have taken for the Purpose of Improvement, or the Monies to arise from the Sale, letting, or Disposal of such Lands or any of them, for securing the Repayment, according to the Provisions of this Act, of the Money so advanced, with Interest, although such Society or Company may not have Power, independently of this Act, to borrow Money, or may have special Powers of borrowing which shall not have arisen; and the Securities made under the Provisions of this Act shall, so far as respects the Property therein comprised, have Priority over all Mortgages or Charges subsequent in Date and Registry, any Provisions in the Acts or Charters of Incorporation of such Societies or Companies notwithstanding. any Commissioners Cases, without the Bond required by and 6 & 7 W. 4. c. 108. X. And whereas, under the said recited Acts of the First and Second and Sixth and Seventh Years of the Reign of King William the Fourth, all Persons, save as therein excepted, to 'whom Advances may be made for the Use of any Person or Persons, Body or Bodies Politic or Corporate, or Company or Companies in Ireland, or for any other Purpose, under the • Provisions of said Acts, are required, besides the Securities in 1&2W.4. c. 33. each Case respectively therein directed to be taken before Advance shall be made in respect of any Loan under the Pro'visions of the said Acts or of either of them, to make and enter into, or cause some sufficient Persons or Person, to the Satis'faction of the said Commissioners, to make and enter into, a 'Bond or Obligation in Writing to the Secretary for the Time being of the said Commissioners, together with a Warrant of Attorney for confessing Judgment thereon, binding the Obligors ⚫ or Obligor therein named, their, his, or her Heirs, Executors, or 'Administrators, in such Penalty as the said Commissioners should direct, conditioned to be void, as in the said Acts mentioned: "And whereas it may be convenient that such Bond and Warrant ' of Attorney should be dispensed with in the Case of Bodies Politic or Corporate, or incorporated Societies or Companies;' be it enacted, That it shall be lawful for the said Commissioners, when they shall think fit, to receive Applications for and make any Loan or Advance, under the Provisions of the said recited Acts |