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Originally Posted by Elspeth
I forget the thread now, but we were talking about the situation with Princess Elizabeth and where her income came from since she wasn't able to use the Duchy money after she turned 18 and before she became Queen. I'm pretty sure that the money reverted to the government or something in the absence of a Duke, so the money Princess Elizabeth received from the Civil List was wasn't given to her while her father was stashing the Duchy funds too.
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I remember reading this at the time. My thought was that if the income from the Duchy reverted to the government, how could the trustees of the Duchy carry out their functions without an income? ie, reinvesting, rebuilding, buying land, maintenance, upkeep etc. Or does the Duchy in the circumstance where there is no Duke of Cornwall just spend/reinvest all cash flow so there is no profit to be remitted to the government? Or even better, stash the cash in 'contingency reserves' accounts?