Duchies of Lancaster and Cornwall (Accounts) Act 1838

The Duchies of Lancaster and Cornwall (Accounts) Act 1838 (1 & 2 Vict. c. 101) is an Act of the Parliament of the United Kingdom that regulated the accounting practices of the Duchies of Lancaster and Cornwall. These Duchies are private estates, the former belonging to the reigning monarch (when there is no Duke of Lancaster) and the latter belonging to the heir apparent to the throne (when there is a Duke of Cornwall).

The Act aimed to provide greater transparency and accountability in the financial management of these significant estates. Prior to the Act, the accounting practices were less formally structured, and the Act sought to standardize and improve the record-keeping and reporting procedures.

Specifically, the Act mandated that annual accounts of the revenues and expenditures of both Duchies be prepared and submitted to Parliament. This requirement ensured that the financial dealings of these estates, which generate substantial income, were subject to parliamentary scrutiny. The accounts would detail the sources of revenue, such as rents from land and property, as well as the various expenditures incurred in the management of the Duchies.

By introducing greater transparency, the Act aimed to address concerns about potential misuse of funds and ensure that the Duchies were managed in a responsible and efficient manner. It remains a significant piece of legislation in the constitutional framework concerning the Duchies of Lancaster and Cornwall and their relationship with the Crown and Parliament.