And be it Enacted, by the Authority aforesaid, That when the aforesaid Bills are stamped and signed, the Commissioners aforesaid shall, within Twelve Months, exchange the Bills now Current, after the Rate of One Shilling, for Seven Shillings, and Six Pence, of those which are at present Current; which Difference of Seven Shillings and Six Pence, for One Shilling, Proclamation, hath continued for divers Years past, and is at present the true Difference; and that after the Expiration of the Twelve Months aforesaid, the present Bills of Credit shall not be exchanged, nor shall be a Tender or Taken in any Payment whatsoever.

[From here, Chapter X, Section X.] (http://docsouth.unc.edu/csr/index.html/document/csr23-0019) Bold mine. I think this section says "We'll pay seven shillings, six pence for every shilling worth of Bills. These bills are a legal tender now, but expire in 12 months and then they can be exchanged or used for tax purposes, etc." Is that an adequate summary?