The Trade with Africa Act 1697 (9 Will. 3. c. 26), also known as An Act to settle the Trade to Africa was a law passed by the Parliament of England to officially revoke the monopoly enjoyed by the Royal African Company (RAC) on English trade with Africa, with included the Atlantic slave trade. Instead the act introduced taxation on those involved in the "triangular trade" whereby merchants would be liable to pay ten per cent tax for the maintenance of the forts and castles between Cape Mount and the Cape of Good Hope which belonged to the RAC. The new regulations came into effect on 24 June 1698.
The act begins with the following:
Among other provisions, the act opened the African trade to all English merchants who paid a ten per cent levy to the Royal African Company on all goods exported from Africa.
The company was unable to withstand competition on the terms imposed by the act and in 1708 became insolvent, surviving until 1750 in a state of much reduced activity.
Section 19 of the act was continued until the end of the next session of parliament after 14 years from the expiration of that enactments by section 4 of the Poor Act 1712 (12 Ann. c. 18).
Section 19 of the act "for allowing a drawback of the duties upon the exportation of copper bars imported" was continued until the end of the next session of parliament after 14 years from the expiration of that enactment by section 1 of the Continuance of Laws, etc. Act 1726 (13 Geo. 1. c. 27).
Section 19 of the act "for allowing a drawback of the duties upon the exportation of copper bars imported" was continued until the end of the next session of parliament after 14 years from the expiration of that enactment by section 4 of the Making of Sail Cloth, etc. Act 1741 (15 Geo. 2. c. 35).
Section 19 of the act "for allowing during a limited time a drawback of the duties upon the exportation of copper bars imported" was continued until the end of the next session of parliament after 24 June 1758 by section 2 of the Continuance of Laws, etc. Act 1753 (26 Geo. 2. c. 32).
Section 19 of the act "for allowing during a limited time a drawback of the duties upon the exportation of copper bars imported" was continued until the end of the next session of parliament after 24 June 1766 by section 1 of the Continuance of Laws Act 1758 (32 Geo. 2. c. 23).
Section 19 of the act "for allowing during a limited time a drawback of the duties upon the exportation of copper bars imported" was continued until the end of the next session of parliament after 24 June 1774 by section 1 of the Continuance of Laws Act 1766 (6 Geo. 3. c. 44).
Section 19 of the act "for allowing during a limited time a drawback of the duties upon the exportation of copper bars imported" was continued until the end of the next session of parliament after 24 June 1781 by section 1 of the Continuance of Laws, etc. Act 1774 (14 Geo. 3. c. 86).
The whole act was repealed by section 1 of, and the schedule to, the Statute Law Revision Act 1867 (30 & 31 Vict. c. 59).