Enacted shortly after the Glorious Revolution, it restored various valuable privileges of the officers, companies, and corporations of the City of London that had been seized under a writ of quo warranto by Charles II and James II to augment the royal revenue.
Following the Glorious Revolution, an act was enacted to restore various important privileges for the officers, companies, and corporations in the City of London that had been taken away under a writ of quo warranto by Charles II and James II to increase the king's revenue.