Usury Act 1660 Usury Act 1660 The Usury Act 1660 is an Act of the Parliament of England (12 Car. II. c. 13) with the long title "An Act for restraining the taking of Excessive Usury". The purpose of the Act was to reduce the interest rate from 8% to 6%. The legislation had been enacted in 1651 under the Commonwealth, but this Act was passed to confer legality on the measure following the Restoration of Charles II after the English Civil War. It was amended by the Usury Act 1840 (3&4 Vict, c.83), the Usury Act 1841 (4&5 Vict, c.54), the Usury
Tenures Abolition Act 1660 1660 by the Convention Parliament shortly after the English Restoration, the Act replaced various types of military and religious service tenants owed to the Crown with socage, and compensated the monarch with an annual fixed payment of £100,000 to be raised by means of a new tax on alcohol. (Frankalmoin, copyhold, and certain aspects of grand serjeanty were excluded.) It completed a process that had begun in 1610 during the reign of James I with the proposal of the Great Contract. The Statute made constitutional gestures to reduce feudalism and removed the monarch's right to demand participation of certain subjects