year on or before the second day of April which fhall be in the vance before per cent. IV. Provided always, That in case the commiffioners of his If the money Majesty's treasury now or for the time being, or any three or be paid in admore of them, or the lord high treasurer for the time being, fhall the time apjudge it convenient for his Majesty's fervice, that any part or pointed, bank parts of the said sum of one million two hundred and fifty thou- to have a dif count of 4 1. fand pounds fo as aforefaid appointed to be paid by the said governor and company of the bank of England, fhould be paid in advance by them on any day or days before or fooner than any of the respective days before appointed for payment of the fame in moieties, and the fame governor and company shall voluntarily consent to pay the fame in advance accordingly; that then and in every such case the said commiffioners of the treasury or lord high treasurer may, and have hereby power to allow to the fame governor and company, out of every fuch payment in advance, a rebate or difcount, after a rate not exceeding four pounds per centum per annum, upon the monies fo paid in advance, from the respective day or days of fuch payment, to the day on which the fame is herein before appointed to be paid as aforefaid. V. And be it enacted by the authority aforefaid, That on On payment payment by the faid governor and company of the bank of Eng- of the money, land, of the faid fum of one million two hundred and fifty bank intitled to the annuity. thousand pounds, at the times and in manner aforefaid, the faid governor and company, and their fucceffors and affigns, fhall be intitled to have, receive and enjoy, at the receipt of his Ma B 4 jesty's jesty's exchequer aforefaid, by and out of the faid yearly fund by this act established as aforefaid, one annuity or yearly sum of fifty thousand pounds of lawful money of Great Britain, to commence from the twenty fourth day of June which shall be in the year of our Lord one thousand seven hundred and twenty nine, and to be paid and payable to them, their fucceffors and affigns, by quarterly payments, at the feafts of Saint Michael the Archangel, of the birth of our Lord Christ, of the annunciation of the blessed Virgin Mary, and of the nativity of Saint John the Baptift in every year, by even and equal portions for ever, until redemption thereof by parliament, according to the provifo or provifoes herein after for that purpose contained, and that the faid annuity or yearly fum of fifty thousand pounds, and every part thereof, fhall be free from all manner of taxes, impofitions or charges whatsoever, Treasury to VI. And for the better and more regular payment of the said fign orders annuity of fifty thousand pounds to the faid governor and comfor payment of the annuity. pany of the bank of England, their fucceffors and affigns for ever, fubject to redemption as aforefaid, an order or orders fhall be figned by the commiffioners of the treafury now or for the time being, or any three or more of them, or the lord high. treasurer for the time being, for the payment thereof; and after the figning thereof, the fame fhall be good, valid and effectual in the law, according to the purport and true meaning thereof, and of this act, and shall not be determinable by or upon the deaths or removal of any of the said commiffioners of the treafury, or the lord high treasurer, or by or upon the determination of the power, office or offices of them or any of them, nor fhall any commiffioners of the treasury, or lord high treasurer now or for the time being, have power to revoke, countermand, or make void fuch order or orders fo figned as aforefaid. Annuity a perfonal eftate, &c. How deficien cy shall be made good. VII. And it is hereby enacted, That the said annuity of fifty thousand pounds, and every part thereof, fhall be adjudged to be a perfonal and not a real estate, and fhall not be liable to any foreign attachment; any law or custom to the contrary notwithstanding. VIII. And it is hereby enacted by the authority aforefaid, That if at any time or times after the twenty fourth day of June one thousand feven hundred and twenty nine, the overplus or furplus monies of the faid additional duties, rates or impofitions, fhall be fo low or deficient, as that the monies arisen therefrom into the exchequer, at the end of any the faid quarterly feafts, shall not be fufficient to pay and discharge the quarter's annuity then due and payable, according to the tenor and true meaning of this act, then and fo often and in every such case, the deficiency of any fuch quarter fhall and may be supplied out of the overplus monies of the said additional rates, duties and impofitions, arifing in any fubfequent quarter; and in case at any time or times after the twenty fifth day of December one thousand seven hundred and twenty-nine, fuch produce shall be so low or deficient at the end of any one year (computing the fame to to end at Christmas day yearly) as that the fame fhall not be fufficient to pay and discharge the whole year's annuity then grown due, then every fuch yearly deficiency fhall, from time to time, be answered and made good by and out of the firft fupplies, which shall be granted in parliament next after fuch deficiency fhall appear; and in cafe no fuch fupplies fhall be granted within fix months next after fuch deficiency fhall happen, then the same shall be made good out of any of the monies which at any time or times shall be or remain in the receipt of the exchequer, of the furpluffes, exceffes or overplus monies commonly called The finking fund (except fuch monies of the same sinking fund, as are appropriated to any particular ufe or ufes by any former act or acts of parliament in that behalf) and such monies of the faid finking fund fhall and may be, from time to time, issued and applied accordingly. IX. Provided always, and be it enacted by the authority a- Monies iffued forefaid, That whatever monies fhall be fo iffued out of the out of the finksaid sinking fund, shall from time to time be replaced thereto by ing fund, to and out of the first supplies to be then after granted in parliament. be replaced. X. Provided always, and be it enacted by the authority aforefaid, That in cafe there fhall be any furplus or remainder of the Surplus to be monies arifing by the faid additional duties or impofitions, at difpofed of by the end of any one year (computing the fame to end at parliament, Christmas day yearly) after the faid annuity of fifty thousand pounds and all arrears thereof are fatisfied, or money fufficient fhall be referved for that purpose, fuch furplus or remainder shall from time to time be referved for the difpofition of parliament, and shall not be iffued but by authority of parliament, and as shall be directed by future act or acts of parliament, any thing in any former or other act or acts of parliament to the contrary notwithstanding. cease. XI. Provided always, and be it enacted by the authority a- On repayment forefaid, That upon repayment by parliament to the faid gover- of the money nor and company of the bank of England, and their fucceffors to the bank, or affigns, of the faid fum of one million two hundred and fifty annuity to thousand pounds, without any deduction, difcount or abatement whatsoever to be made out of the fame or any part thereof, and of all arrears of the faid annuity or yearly fum of fifty thoufand pounds, then and not till then, the faid annuity or yearly fum fhall from thenceforth ceafe and be understood to be redeemed; and from and after fuch redemption, the monies arifing by the faid furplus or overplus monies of the said additional duties, rates or impofitions, fhall not be iffued or applied to any ufe or purpose, but as fhall be directed by future act or acts of parliament; any thing in this or in any former act or acts of parliament to the contrary notwithstanding. XII. And in regard it is intended that the faid annuity or yearly fum of feventy thousand pounds, may be redeemed by any payments not lefs than five hundred thousand pounds at a time, and that as the faid principal money fhall be paid off, the faid annuity fhall proportionably fink and be abated, be it therefore provided and enacted by 2 ment of a fum the authority aforefaid, That if at any time or times after the After 24 June twenty fourth day of June which shall be in the year of our 1730. on pay- Lord one thousand feven hundred and thirty, payment be made to the faid governor and company of the bank of England of any fum or fums of money (not being less than five hundred thouproportional fand pounds at a time) in part of the said principal fum at which part of the an- the faid annuity is redeemable, and alfo if payment be then also uity to cease. made of all arrears of the said annuity, then from and after eve not less than 500,000l. a Bank to con tinue a corpo. ration till redemption of the whole fum. Bank may transfer the annuity. * Ann. c. 7. ry such payment fo made, fo much of the said annuity, as shall bear proportion to the monies fo paid in part of the faid whole principal fum, fhall ceafe, determine, and be understood to be redeemed; any thing in this or in any former act or acts of parliament to the contrary notwithstanding. XIII. And be it further enacted by the authority aforesaid, That the faid governor and company of the bank of England, and their fucceffors, fhall continue and be a corporation, and fhall enjoy all the capacities, powers, privileges and advantages to them as a corporation belonging, until the compleat redemption of the whole of the faid annuity or yearly fum of fifty thoufand pounds, according to the before mentioned provifoes for that purpose; any former or other statute to the contrary note withstanding. XIV. And for the better enabling the faid governor and company of the bank of England at all times hereafter to support their own and the publick credit, be it enacted by the authority aforefaid, That the faid governor and company thall or may, and they are hereby impowered, at any time or times hereafter, to affign, transfer, or otherwife to difpofe of the said annuity or yearly fum of fifty thousand pounds by this act established, every or any part or parcel, parts or parcels thereof, to any person or perfons, body or bodies politick or corporate, in fuch manner and form as the faid governor and company shall think proper; fubject nevertheless to such redemption by parliament as aforefaid, and without power to enlarge their capital ftock by or out of the fame. XV. And whereas in pursuance of a certain act of parliament made in the feventh year of the reign of her late Majesty Queen Anne, intituled, An act for enlarging the capital ftock of the bank of England, and for raising a further fupply to her Majefty for the fervice of the year one thousand seven hundred and nine, the faid governor and company of the bank of England did become intitled to q certain annuity or yearly fum of one hundred and fix thousand five hundred and one pounds thirteen fhillings and five pence, being after the rate of fix pounds per centum per annum, for or in respect of the fum of one million Seven hundred feventy five thousand and twenty Seven pounds feventeen Shillings and ten pence halfpenny, being the amount of certain exchequer-bills by the faid act directed to be delivered up by the faid governor and company to be cancelled, which annuity was thereby charged on certain duties on houfes therein mentioned, and was made redeemable by parliament on repayment to the fame governor and company of the faid fum of one million feven hundred feventy five thousand and twenty feven pounds feventeen fhillings and ten pence halfpenny and whereas by an act of parliament made in the third year of the reign of his faid late majesty King George the First, 3 Geo.1. c.8. intituled, An act for redeeming feveral funds of the governor and company of the bank of England, pursuant to former provifoes of redemption, and for fecuring to them feveral new funds and allowances redeemable by parliament, and for obliging them to advance further fums not exceeding two millions five hundred thousand pounds, at five pounds per centum, as fhall be found necessary to be imployed in leffening the national debts and incumbrances, and for continuing certain provifions made for the expence of his Majefty's civil government, and for payment of annuities formerly purchased at the rate of five pounds per centum, and for other purposes in this act mentioned, the faid duty on houses, on which the faid laft mentioned annuity was charged, was added to and made part of the aggregate fund established by the faid act; and the faid annuity of one hundred and fix thousand five hundred and one pounds thirteen fillings and five pence, was thereby reduced to an annuity of eighty eight thousand seven hundred fifty one pounds seven shillings and ten pence halfpenny, redeemable by parliament, being after the rate of five pounds per centum per annum, for or in refpect of the faid fum of one million feven hundred feventy five thousand and twenty feven pounds feventeen fillings and ten pence halfpenny; and by or in pursuance of the faid last mentioned act, the faid governor and company of the bank of England became intitled to one other annuity or yearly fum of one hundred thousand pounds, being after the rate of five pounds per centum per annum, for or in respect of the fum of two millions, being the amount of certain other exchequer bills by the fame act directed to be delivered up by the fame governor and company to be cancelled, which last mentioned annuity was thereby charged on the faid aggregate fund, and was made redeemable by parliament on repayment, to the fame governor and company, of the faid fum of two millions: and whereas by a fubfequent act of parliament, made in the eleventh year of the reign of his faid late majesty King George the First, intituled, An act for continuing 11Geo.1. c.9. the several annuities of eighty eight thousand seven hundred fifty one pounds feven fhillings and ten pence halfpenny, and one hundred thousand pounds, to the bank of England, until Midfummer one thousand seven hundred and twenty feven; and from thence for reducing the fame to feventy one thousand and one pounds two fhillings and three pence three farthings, and eighty thousand pounds, redeemable by parliament, and for preventing the uttering of forged, counterfeited or erafed bank bills or notes, it was amongst other things enacted, That the faid tvo laft mentioned Several annuities fhould be reduced accordingly; and it was also thereby provided and enacted, That if at any time or times thereafter payment should be made to the faid governor and company of the bank of England, of any fum or fums of money (not being less than five hun dred thousand pounds at a time) in part of the faid feveral principal Jums of one million feven hundred feventy five thousand and twenty Leven pounds seventeen Shillings and ten pence halfpenny, and two mil } |