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tending on the other moiety hereby enacted, to remain and be the capital stock of the said South-Sea company as aforesaid, will be the yearly sum of eight hundred and fix thousand six hundred sixty eight pounds nine shillings and a penny farthing; and the said whole annuity or yearly fund, which from and aster the said feast of the nativity of Saint John Baptist one thousand seven hundred and twenty seven, will be payable for both the said moieties of the capital stock so separated as aforesaid, until redemption thereof by parliament, according to the purport and'true meaning of this act, will, as the fame is computed after the rate of tour pounds per centum per annum, amount to the sum of one million three hundred fifty two thousand ninety nine pounds fix millings and eleven pence halfpenny, and is from thenceforth to be divided between the said joint stock of South-Sea annuities, and the said capital stock remaining to the said South-Sea company as aforesaid, in equal moieties, over and besides the said sums settled and allowed, and to be settled and allowed for charges of management as aforesaid, which allowances are to attend the said remaining stock of the said South-Sea company ; now as to, for and concerning the one moiety or half-part of the laid whole capital stock of the said company, commonly called the South-Sea company, so as aforesaid converted into a joint stock of South-Sea annuities: be it an(j jnt0 an. further enacted by the authority aforesaid, That all and every nuities, for the members or proprietors, having any share or interest, on the benefit of the said twenty fourth day of June one thousand seven hundred memberS» and twenty three, of or in the last mentioned moiety or halfpart of the said capital stock, amounting to the said sum of sixteen millions nine hundred and one thousand two hundred forty one pounds seventeen shillings and a farthing, his, her or their executors, administrators, successors and assigns respectively (in lieu and recompence of and for such his and their share or shares therein, and of the proportional annuities or yearly funds, dividends, profits and advantages, which belonged to every such share or stiares, before the making of this act) shall have, receive and enjoy, and be entitled by force and virtue of this act, to have, receive and enjoy,Tme or more certain annuity or annuities, to, be computed after the said rate of five pounds per centum per annum y on the last mentioned sum of sixteen millions nine hundred and one thousand two hundred forty one pounds seventeen (hillings and a farthing, from the said feast of the nativity of Saint John Baptist one thousand seven hundred and twenty three, until and for the said feast of the nativity of Saint John Baptist one thousand seven hundred and twenty seven; and from thenceforth, at the said rate of four pounds per ce?itum per annum, until such redemption by parliament, and proportional annuities for any greater or lesser sums, that such shares in such joint stock of South-Sea annuities shall amount to, until redemption thereof by parliament as aforesaid; and the said company, called the South-Sea company, stiall from and after the said twenty fourth day of June one thousand seven hundred and >

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twenty three, have and receive, and be entitled by virtue of this act, to have and receive at the exchequer, out of the duties revenues and incomes, charged with their whole annuities or yearly funds payable there, the said yearly sum of eight hundred forty five thousand sixty two pounds one (hilling and ten pence farthing, as the annuity, to attend the said moiety or half-part so as aforesaid converted unto the said joint stock of South-Sea annuities, from the said feast of the nativity of Saint John Baptist one thousand seven hundred and twenty three, until and for the said feast of the nativity of Saint John Baptist one thousand seven hundred and twenty seven, and from thenceforth so much yearly, as the interest of the fame moiety shall amount unto, at the said rate of four pounds per centum per annum, until redemption by parliament as aforesaid, by weekly or other payments, as the whole yearly funds or annuities of the fame company are payable to them, before the making such division and separation as aforesaid; nevertheless in trust and for the benefit of the laid proprietors or members, who shall be entitled to the said South-Sea annuities, according to their respective interests therein; and the said company, called the SouthSea company, from time to time^ shall have and be entitled to the like remedies, ways and means, for receiving and recovering the said monies, hereby intended for the payment of the said South-Sea annuities at the respective rates aforesaid, during the continuance thereof, as they might have had or used for receiving or recovering their whole annuities or yearly funds at the exchequer, if no such division and separation were made; nevertheless in trust as aforesaid, and all and every the powers, authorities, privileges, freedoms, immunities, exemptions, and other advantages, and all pains of death, penalties, forfeitures and disabilities, and all restrictions, rules and directions, and all clauses, matters and things, which were enacted or provided by any former act or acts of parliament, laws or statutes, which were in force at or until the time of making this act, for better securing the whole capital stock, and payment of the yearly funds of the said South-Sea company, for the sole use of the said company, or preventing or punishing the forging or counterfeiting transfers or assignments, or dividend warrants, or any powers relating thereto, shall be revived, continued, and be practised and put in execution, for better securing the said joint stock of South-Sea annuities, and the laid yearly funds hereby enacted to attend the fame, in trust, and for the benefit of the said annuitants, and for preventing or punishing the forging or counterfeiting any transfers or assignments of the said South-Sea annuities, or any dividend warrants made for the fame, or any powers relating thereto, as fully and effectually to all intents and purposes whatsoever, as if all and every the said powers, authorities, privileges, freedoms, immunities, exemptions, and other advantages, pains of death, and other penalties, forfeitures and disabilities, restrictions, rules and directions were again repeated, peated, and particularly re-enacted in the body of this present act.

V. And be it further enacted by the authority aforesaid, Quarterly and That the said joint stock of annuities, to be called the South-Sea half-yearly annuities, or by whatsoever other name or names they or any annuities* &c of them shall be called or known, shall become due and payable, 9 and be accounted to be due and payable from the feast of the

nativity of Saint John Baptist, one thousand feven hundred and twenty three, until and for the feast of Saint Michael the archangel then next following, quarterly, and from thenceforth halfyearly videlicet, on the feast of the annunciation of the blessed Virgin Mary, and the feast of Saint Michael the archangel in every year, by even and equal portions, and at the respective rates before-mentioned, until the redemption thereof by parliament, according to the provisoes and powers of redemption hereafter in this act contained in that behalf.

VI. Provided always, and it is hereby enacted by the autho- Deficiencies rity aforesaid, That if at any time or times hereafter, any de- how made

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ficiency or deficiencies mall happen in the produce of all or any S°°d.
of the several duties, revenues, and incomes, charged with the
joint stock of the said South-Sea annuities as aforesaid, and at-
tendant on the said remaining stock, and the said allowances
for charges of management, to be continued to the said South-
Sea company in their own right as aforesaid, then and in every
such case so happening, the said joint stock of South-Sea an-
nuities, in respect of their said yearly fund, shall from time to
time bear one moiety or half-part of every such deficiency, un-
til the same (hall be provided for and made good by authority
of parliament, and no more; any thing in this act, or any for-
mer law, statute or provision whatsoever to the contrary not-
withstanding.

VII. Provided also, and it is hereby enacted by the authority . aforesaid, That the proportional share and shares, which ail and tl^nfij**. every person and persons, body and bodies politick and corpo- to be written* rate, upon such division and separation as aforesaid, shall have olf from comand be entitled unto of or in the said joint stock of South-Sea P?-nYls books, annuities, shall after the said twenty fourth day of June one ^"„ewiedtm"" thousand seven hundred and twenty three, be written off from ers Lt3~ the present books of the said company, into a new ledger or

ledgers, with the proportional annuity and annuities, which in pursuance of this act, are to attend the fame (hare and shares respectively, with proper debits and credits, so that the same annuities intended to be founded on this act may be known and ascertained, and the future transfers, and other legal dispositions thereof, or of any part or parcel, parts or parcels of the fame, may from time to time plainly appear and be inspected.

VIII. And it is hereby enacted, That as well the laid South- Annuities Sea annuities, intended to be founded on this act, and all and &c. tax-tree, every the principal sums for which the said several South-Sea annuities are to be payable, and whereupon they shall be com

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puted pursuant to this act, and every of them, (hall be free from Tobe ersonal a^ taxes' cnarges and impositions whatsoever. estates,and ^* And be it further enabled by the authority aforesaid, not liable to That all and every the persons and corporations whatsoever, foreign at- who (hall be entitled to any of the said South-Sea annuities, to .tachments, ^e founcied on this act as aforesaid, and all persons and corporations lawfully claiming under them respectively, shall be possessed thereof as a personal estate, and the same shall not be descendable to the heir, and shall not be liable to any foreign attachment by the custom of London or otherwise ; any law, statute, or custom to the contrary notwithstanding. Principal X. And be it further enacted by the authority aforesaid,

i^tiesV&cn" ^hat a^ tne principal monies in the said joint stock of the to be deemed South-Sea annuities for which the said several and respective ancapitalor joint nuities (hall pursuant to this act be payable as aforesaid, (hall stock, &c. be deemed, reputed and taken to be one capital or joint stock, on which the same annuities shall be attending; and that all and every person and persons, body and bodies politick and corporate, in proportion to such their respective South-Sea annuities, shall have and be deemed, reputed and taken to have a share in such stock; and that the same capital or joint stock, or any lhare or shares therein, and the proportional annuity and annuities attending the fame, shall be assignable and transferrable as this And assign- act directs, and not otherwise; and that the said company, able. commonly called the South-Sea company, shall cause to be con

stantly kept, within some convenient place within the city of Anofiicetobe ^on^on^ an °^CQ anc^ a book or books, in which all assignments ke^i^Lon-6 or transfers of the said stock of South-Sea annuities as aforesaid, don for entry and of the proportional annuities attending the fame, or any of assign- part or parcel, parts or parcels thereof, shall be fairly entred meats, &c* ancj registred, which entry shall be contrived in proper word$ for that purpose, and shall be signed by the parties making such assignments or transfers, or (if the party be absent) by his, her or their attorney thereunto lawfully authorized by writing under his, her or their hands and seals, to be attested by two or more credible witnesses; and that the person or persons, to whom such transfers sthall be made, do underwrite his, her of their acceptance thereof; and that no ether method of assigning or transferring the said stock and annuities to attend the fame, or any part thereof, or any interest there'n, shall be gooc[ and available in law: provided always, That any person or persons possessed of such South-Sea annuity or annuities as aforesaid, or any interest therein, may bequeath the same by will in writing, attested by two or more credible witnesses, but that such legatee shall receive no payment thereupon, till so much of the (aid will as relates to such South-Sea annuity or annuities, be entred in the office last mentioned -> and in default of such transfer or bequest, the stock and annuity or annuities attending the fame, shall go to the executors or administrators. No stamp- XI. And it is hereby enacted by the authority aforesaid, That dunes on nQ ^a duties whatsoever., shall be chargeable upon any the nansiers,£cc. '" tran$transfers or assignments of the said joint stock of the said SouthSea annuity, or annuities to attend the fame, or any of them.

XII. And as for and concerning the other moiety or half-part of the said whole capital stock of the said company, commonly called the South-Sea company, so remaining and continued to the said South-Sea company as their capital stock, and all sums fettled and allowed, or to be settled and allowed for management as aforesaid, with all the other benefits, profits of trade, privileges and advantages whatsoever belonging to the said company before the making of this act; be it enacted by the authority aforesaid, That the said South-Sea company shall, from and as- South Sea ter the said twenty fourth day of June one thousand seven hun- company,aster dred and twenty three, continue to have, receive and enjoy, and £0 receive the* be entitled to have, receive and enjoy, at the exchequer, in their residae of anown right, the residue of the said annuities or yearly funds, nuities, &c. at computed in the whole to one million six hundred fifty one thou- the exchequer sand seven hundred and thirty pounds ten shillings and ten pence J11* 24ne halfpenny per annum, till the said feast of the nativity of SaintJ7Z7> John Baptijl one thousand seven hundred and twenty seven, and to amount afterwards to one million three hundred fifty two thousand ninety nine pounds six shillings and eleven pence halfpenny per annum 1 till redemption by parliament as aforesaid; which said residue, till the said feast of the nativity of Saint John Baptist one thousand seven hundred and twenty seven, is computed at eight hundred and six thousand six hundred sixty eight pounds nine shillings and a penny farthing, as is before mentioned, and afterwards is to be computed after the rate of four pounds per centum per annum> till redemption as aforesaid, as the annuity or yearly fund to attend the said remaining moiety or half-part of the said capital stock, hereby intended to be continued in the said South-Sea company as aforesaid, till the redemption thereof by parliament as aforesaid; and shall also have, receive and enjoy, and be entitled by virtue of this act to have," receive and enjoy, the said whole sums of eight thousand pounds per annum9 and one thousand three hundred ninety seven pounds nine shillings and six pence per annum ^ already settled for charges of management, and all other sums to be allowed for charges of management as aforesaid, during the continuance thereof; and shall be also entitled to hold, exercise and enjoy all the profits of trade, and other privileges and advantages belonging to the said company, before the making of this act; and that all and every the members and proprietors, having any share or shares on the said twenty fourth day of June one thousand seven hundred and twenty three, in the said remaining moiety or half-part of the said capital stock, to be continued in the said South-Sea company as aforesaid, his, her and their executors, administrators, successors and assigns respectively, shall have and be intitled to proportional shares of and in the said annuities or yearly funds attending the fame, and also all benefits of trade and other benefits, and all dividends, profits and advantages whatsoever, belonging

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