Usury Laws Repeal Act 1854
The Usury Laws Repeal Act 1854 was an act of the Parliament of the United Kingdom that repealed enactments relating to usury in the United Kingdom. The act relaxed all restrictions on usury.
Provisions
Repealed enactments
Section 1 of the act repealed 20 enactments, listed in the schedule to the act, in addition to "all existing Laws against Usury".Section 2 of the act provided that nothing in the act would affect transactions done before the passing of the act.
Section 3 of the act provided that interest on existing contracts would be recoverable as if the act had not been passed.
Section 4 of the act provided that nothing in the act would affect pawnbrokers.
| Citation | Short title | Long title | Extent of repeal |
| 37 Hen. 8. c. 9 | Usury Act 1545 | An Act passed in the Thirty-seventh Year of the Reign of King Henry the Eighth, intituled “A Bill against Usury.” | The whole act. |
| 13 Eliz. 1. c. | Usury Act 1571 | An Act passed in the Thirteenth Year of the Reign of Queen Elizabeth, intituled An Act against Usury.” | The whole act. |
| 3 Cha. 1. c. 5 | Continuance of Laws, etc. Act 1627 | An Act passed in the Third Year of the Reign of King Charles the First. | As enacts that an Act passed in the Twenty-first Year of King James the First, intituled An Act against Usury,” be made perpetual. |
| 12 Cha. 2. c. 13 | Usury Act 1660 | An Act passed in the Twelfth Year of the Reign of King Charles the Second, intituled An Act for the restraining the taking of excessive Usury.” | The whole act. |
| 13 Cha. 2. St. 1. c. 14 | Confirmation of Acts (No. 3) Act 1661 | An Act passed in the Thirteenth Year of the Reign of King Charles the Second, intituled “An Act for confirming an Act intituled ‘An Act for encouraging and ‘increasing of Shipping and Navigation,’ and several other Acts, both public and private, mentioned therein”. | As confirms the herein-before mentioned Act of the Twelfth Year of the same Reign. |
| 13 Ann. c. 15 | Usury Act 1713 | Aan Act passed in the Twelfth Year of the Reign of Queen Anne, intituled “An Act to reduce the Rate of Interest, without any Prejudice to Parliamentary Securities." | The whole act. |
| 53 Geo. 3. c. 141 | Inrolment of Grants of Annuities Act 1813 | Aan Act passed in the Fifty-third Year of the Reign of King George the Third, intituled "An Act to repeal an Act of the Seventeenth Year of the Reign of His present Majesty, intituled 'An Act for registering the Grants of Life Annuities, and for the better Protection of Infants against such Grants, and to substitute other Provisions in lieu thereof'". | Except so much thereof as repeals the said Act of the Seventeenth Year of King George the Third. |
| 3 Geo. 4. c. 92 | Memorials of Grants of Annuities Act 1822 | An Act passed in the Third Year of the Reign of King George the Fourth, intituled “An Act to explain an Act of the Fifty-third Year of the Reign of His late Majesty, respecting the Enrolment of Memorials of Grants of Annuities." | The whole act. |
| 7 Geo. 4. c. 75 | Memorials of Grants of Annuities Act 1826 | An Act passed in the Seventh Year of King George the Fourth, intituled “An Act to explain an Act of the Fifty-third Year of the Reign of His late Majesty, respecting the Enrolment of Memorials of Grants of Annuities.” | The whole act. |
| 5 & 6 Will. 4. c. 41 | Gaming Act 1835 | An Act passed in the Session of Parliament holden in the Fifth and Sixth Years of the Reign of King William the Fourth, intituled “An Act to amend the Law relating to Securities given for Considerations arising out of gaming, usurious, and other illegal Transactions." | As relates to Securities given for Considerations arising out of usurious Transactions. |
| 13 & 14 Vict. c. 56 | Usury Act 1850 | An Act passed in the Session of Parliament holden in the Thirteenth and Fourteenth Years of the Reign of Her present Majesty, intituled "An Act to continue the Act for exempting certain Bills of Exchange and Promissory Notes from the Operation of the Usury Laws.” | The whole act. |
| Citation | Short title | Long title | Extent of repeal |
| 10 Chas. 1. Sess. 2. c. 22 | Pawnbrokers Act 1634 | An Act of the Tenth Year of King Charles the First, Session Two, Chapter Twenty-two, intituled "An Act against Usury." | The whole act. |
| 2 Anne c. 16 | Pawnbrokers Act 1703 | An Act of the Second Year of Queen Anne, Chapter Sixteen, intituled "An Act for reducing of Interest of Money to Eight per Cent. for the future." | The whole act. |
| 8 Geo. 1. c. 13 | Pawnbrokers Act 1721 | An Act of the Eighth Year of King George the First, Chapter Thirteen, intituled "An Act for reducing the Interest of Money to Seven per Cent.” | The whole act. |
| 5 Geo. 2. c. 7 | Pawnbrokers Act 1731 | An Act of the Fifth Year of King George the Second, Chapter Seven, intituled An Act for reducing the Interest of Money to Six per Cent,” | The whole act. |
Subsequent developments
The broad terms of the repeal of "all existing Laws against Usury" by the act meant that some acts relating to usury were repealed by subsequent statute law revision acts, including theSection four of the act "as far as that section provides that all laws touching and concerning Pawnbrokers shall remain in full force and effect to all intents and purposes whatsoever as if that Act had not been passed." was repealed by section 4 of, and the first schedule to, the Pawnbrokers Act 1872.
Section one of the act to "hereto," and section two of, and the schedule to, the act were repealed by section 1 of, and the schedule to, the Statute Law Revision Act 1875.
In the seventh report on statute law revision published in 1975, the Law Commission and Scottish Law Commission proposed the repeal of the act.
The whole act was repealed by section 1 of, and part VI of schedule 1 to, the Statute Law (Repeals) Act 1976.