The Usury Act 1660 is an Act

Act of Parliament

An Act of Parliament is a statute enacted as primary legislation by a national or sub-national parliament. In the Republic of Ireland the term Act of the Oireachtas is used, and in the United States the term Act of Congress is used.In Commonwealth countries, the term is used both in a narrow...

 of the Parliament of England

Parliament of England

The Parliament of England was the legislature of the Kingdom of England. In 1066, William of Normandy introduced a feudal system, by which he sought the advice of a council of tenants-in-chief and ecclesiastics before making laws...

 (12 Car. II. c. 13) with the long title

Long title

The long title is the formal title appearing at the head of a statute or other legislative instrument...

 "An Act for restraining the taking of Excessive Usury

Usury

Usury Originally, when the charging of interest was still banned by Christian churches, usury simply meant the charging of interest at any rate . In countries where the charging of interest became acceptable, the term came to be used for interest above the rate allowed by law...

". The purpose of the Act was to reduce the interest rate

Interest rate

An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. For example, a small company borrows capital from a bank to buy new assets for their business, and in return the lender receives interest at a predetermined interest rate for...

 from 8% to 6%. This has been enacted in 1651 under the Commonwealth

Commonwealth of England

The Commonwealth of England was the republic which ruled first England, and then Ireland and Scotland from 1649 to 1660. Between 1653–1659 it was known as the Commonwealth of England, Scotland and Ireland...

, but this Act was passed to confer legality on the measure following the Restoration

English Restoration

The Restoration of the English monarchy began in 1660 when the English, Scottish and Irish monarchies were all restored under Charles II after the Interregnum that followed the Wars of the Three Kingdoms...

 of Charles II

Charles II of England

Charles II was monarch of the three kingdoms of England, Scotland, and Ireland.Charles II's father, King Charles I, was executed at Whitehall on 30 January 1649, at the climax of the English Civil War...

 after the English Civil War

English Civil War

The English Civil War was a series of armed conflicts and political machinations between Parliamentarians and Royalists...

.

It was repealed by section 1 of the Usury Laws Repeal Act 1854 (c.90)