before the refpective times by this act limited in that behalf, to any receiver or receivers to be appointed for that purpose, as is herein after mentioned, the fum of ten pounds, or divers entire fums of ten pounds, upon this act; and that every such contributor or adventurer for every fuch fum of ten pounds, which he, the or they shall so advance, fhall be interested in fuch lot or fhare. of and in the faid yearly fund established by this act, as is herein after directed and appointed, and the fame entire fums of ten pounds each are hereby appointed to be paid unto fuch receiver or receivers at fuch time or times, and in fuch proportions at a time, on or before the twenty fourth day of June one thousand seven hundred and twenty fix, as fhall be appointed by the lords commiffioners of his Majefty's treafury, or any three or more' of them, or the lord high treasurer for the time being; and the Allowance for faid commiffioners of his Majesty's treasury, or the high trea- prompt payfurer for the time being, are hereby impowered to cause such an allowance out of the fum fo to be contributed, or any of them for prompt payment, to be made as he or they in his or their difcretion fhall think meet and reasonable.

ment.

nagers.

Books with

IV. And be it further enacted by the authority aforefaid, Treafury to That such persons as the commiffioners of his Majesty's treaappoint mafury, or any three or more of them now being, or the high treasurer, or any three or more of the commiffioners of the treafury for the time being, fhall nominate or appoint, fhall be managers and directors for preparing and delivering out tickets, and to oversee the drawing of lots, and to order, do and perform fuch other matters and things as are hereafter in and by this act directed and appointed by fuch managers and directors to be done and performed; and that fuch managers and directors fhall meet together from time to time at fome publick office three columns or place, for the execution of the powers and trufts in them re- to be prepared. pofed by this act; and that the faid managers or directors, or fo many of them as fhall be prefent at fuch meeting, or the major part of them, fhall caufe books to be prepared, in which every leaf shall be divided or diftinguished into three columns, and upon the innermoft of the faid three columns there fhall be printed one hundred thoufand tickets, numbred one, two, three, and fo onwards in arithmetical progreffion, where the common excess is to be one, until they rife to and for the number of one hundred thousand; and upon the middle column in every of the faid books fhall be printed one hundred thoufand tickets, of the fame breadth and form, and numbred in like manner; and in the extreme column of the faid books there fhall be printed a third rank or series of tickets, of the fame number with those of the other two columns; which tickets fhall feverally be of an oblong figure, and in the faid books fhall be joined with oblique lines flourishes or devices, in fuch manner as the faid managers and directors, or the major part of them, fhall think moft fafe and convenient; and that every ticket in the third or extreme column of the faid books fhall have written or printed threupon (belides the number of fuch ticket) words to this effect, the

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bearer

A book to be

kept for that purpose.

bearer hereof is entitled to seven pounds ten fillings, part of the joint Stock of one million, attended with annuities after the rate of three pounds per centum per annum, or to a better chance.

Treafury to appoint receivers. Managers to examine the books. Tickets not difpofed of to be kept as cafh in the exchequer. Middle column tickets to be rolled up, and put into box [A]. Innermost to remain in the books. Other books with two columns. 8000 tickets fhall be fortunate, and the managers fhall caufe to be written upon one of them 20,000l. upon two 10,000l. upon two 5000l. upon three 3000l. upon five zoool. upon twenty eight 1oool. upon forty nine 500l. upon three hundred and fixty 100l. upon feven thoufand five hundred and fifty 20l. which principal fums, together with 5ool. to the first drawn ticket, and roool. to the last drawn ticket, will amount to 310,000l. which being added to 690,000l. payable on the blanks, do amount together to 1000,000l. No money to be received after 24 June 1726. Method of drawing. Fortunate tickets to be printed. Counterfeiting tickets felony. Treafury to reward the managers. Guardians may contribute for infants, &c. Tickets to be exchanged for certificates. Bank to give credit, &c. EXP.

XIX. And be it further enacted by the authority aforefaid, That the faid accomptant general of the bank of England for the time being, to whom the faid certificates are to be directed as aforefaid, hall, upon receiving and taking in of the faid certificates, or any of them, give credit to the perfons named therein, in a book or books to be by him provided and kept for Annuities af- that purpose, for the principal fums contained in every fuch cerfignable. tificate; and the perfons to whofe credit every the faid principal fums shall be entred in the said book or books, his, her or their executors and administrators, thall and may have power to affign and transfer the fame, or any part, fhare or proportion thereof, to any other person or perfons, bodies politick and corporate whatsoever, in other books to be provided and kept by the faid accomptant general for that purpofe; and the principal sums fo affigned or transferred fhall carry the faid annuity of three pounds per centum per annum, and shall be taken and deemed to be stock transferrable by this act, according to the power and authority herein aftermentioned, until the redemption thereof as aforefaid and the faid accountant general of the bank of England for the time being is hereby authorized and directed to cancel and file the certificates as they fhall from time to time be received and taken in by him, and to give the perfons bringing the fame a note under his hand, teftifying the principal money for which they have credit in the faid book or books, by reason or means of the certificates fo received, taken in and cancelled as aforefaid, and of the annuity attending the fame.

31. per cent. interest.

XX. And it is hereby enacted, That every person so to be named in the said certificates, his, her and their executors, administrators and affigns, fhall have, receive and enjoy and be entitled, by force and virtue of this act, to have, receive and enjoy an annuity or annuities after the rate of three pounds per centum per annum, for the refpective principal fums specified in fuch certificate, until redemption thereof, according to the provifo herein after contained in that behalf, out of the money of the

2

the faid yearly fund by this act established and appropriated for that purpose; which annuities fhall be payable and paid halfyearly at the feaft-days above-mentioned, by even and equal payable halfportions, or within fix days next after every or any such feast- yearly. days, until the faid annuities fhall be redeemed by paying off the faid refpective principal fums and all arrearages of the fame annuities, if any be, according to the provifo herein after mentioned; the first payment to begin and be made at the feast of the nativity of our Lord Christ one thousand seven hundred and twenty fix, or within fix days after; and that the faid yearly fum of thirty thousand pounds, or fo much thereof as fhall be fufficient from time to time to answer and satisfy the said annuities after the rate of three pounds per centum per annum, as the same shall become due, are and fhall be appropriated and applied thereunto, and shall not be diverted or divertible to any other use, intent or purpose whatsoever.

XXI. And it is hereby enacted, That the faid annuities pay- Tax free. able after the rate of three pounds per centum per annum, and all and every the principal fums for which the fame are to be payable shall be free from all taxes, charges and impofitions whatfoever.

neral.

XXII. And be it enacted by the authority aforefaid, That Bank to ap the faid governor and company of the bank of England, and point a chief their fucceffors, fhall from time to time, until the faid annuities cahier and accountant geafter the rate of three pounds per centum per annum fhall be redeemed according to this act, appoint and employ one fufficient perfon within their office in the city of London to be their chief or firft cashier, and one other fufficient perfon within the fame office to be their accountant general; and that the faid cashier or cashiers, to whom the faid monies fhall from time to time be issued for payment of the said annuities after the rate of three pounds per centum per annum, shall from time to time, without delay, apply and pay the fame accordingly, and render his account thereof according to the due courfe of the exchequer and the faid accountant general for the time being shall from time to time inspect and examine all receipts and payments of the faid cashier, and the vouchers relating thereunto, in order to prevent any fraud, negligence or delay; and that all perfons and corporations, who fhall be entitled to any of the fame annuities, fo to be payable by the cashier of the bank of England for the time being, purfuant to this act, and all perfons Annuities a perfonal eclaiming under them, thall be poffeffed thereof as a perfonal e- ftate, &c. state, 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 otherwife, any law, ftatute or custom to the contrary notwithstanding.

XXIII. And be it further enacted by the authority aforefaid, The annuities That all the principal monies for which the faid feveral annui- a joint stock, ties, after the rate of three pounds per centum per annum, fhall be payable by the cashier of the bank of England for the time being as aforefaid, fhall be deemed and taken to be one capital

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or joint stock on which the fame annuities fhall be attending, and shall be called, the joint stock of three pounds per centum annuities; and that all perfons and corporations, in proportion to their respective annuities, fhall have a fhare in fuch flock; and that all such shares fhall be affignable, transferrable and deviseable in the fame manner as is prescribed by act or acts of parliament made in the first year of his Majefty's reign, touching the annuities after the rate of five pounds per centum per annum therein mentioned; and that no ftamp-duties whatfoever fhall be chargeable on fuch transfers; and that the faid governor and company of the bank of England (notwithstanding the redemption of all or any other funds or annuities, in pursuance of the acts for cftablishing the fame, or any of them) thall continue a corporation to all intents and purposes, relating to the receiving, paying or accounting for the faid annuities of three pounds. per centum per annum fo payable by their cashier, till the fame fhall be redeemed according to this act; and that the faid governor and company of the bank of England, or any members thereof, fhall not incur any difability for or by reafon of their doing any matter or thing in pursuance of this act.

XXIV. And it is hereby enacted by the authority aforefaid, That no fee or gratuity whatsoever fhall or may be demanded or taken of any of his Majesty's subjects for paying the faid annuities of three pounds per centum per annum, or any of them, by the faid cashier for the time being; and that no fee or gratuity shall be demanded or taken for any transfer of any fum, great or small, to be made in pursuance of this act, upon pain that any officer or perfon offending, by taking any fee or gratuity contrary to this act, fhall forfeit the fum of twenty pounds the party grieved, to be recovered with full costs in any of his Majefty's courts of record at Westminster.

to

XXV. Provided always, and it is hereby enacted by the authority aforefaid, That it fhall and may be lawful to and for the King's majesty, his heirs or fucceffors, at any time, upon fix months notice to be given under his or their fign manual, and affixed upon the Royal Exchange in London, at any of the feaft-days of payment of the faid annuities, to redeem the fame. annuities, and every of them, by paying to the then proprietors of the fame annuities the confideration or purchase-money which was originally paid for the fame (without deduction of the allowance for prompt payment) and all arrearages of the faid annuities which fhall be incurred till the time of fuch payment, to be made at the then next enfuing half-yearly feaftday; and that from and after fuch payment made, or referving money in the exchequer ready to make fuch payment on demand, that then and not till then the fame annuities and every of them fhall-from thenceforth ceafe and determine, and the faid revenues fhall be discharged of, from and against the fame.

XXVI. And for the better afcertaining and fecuring the payment of the annuities aforefaid, be it further enacted by the au

6

thority

nuities.

thority aforesaid, That all fuch monies as fhall arife and come in the pound
into the receipt of the exchequer, of and from the deductions to these an-
of fix pence in the pound as aforefaid, fhall be applied and appro-
priated, and the fame are hereby accordingly appropriated for and
towards paying and discharging the faid annuities, till redeemed
as aforefaid, and that half-yearly, to wit, on or within twenty
days next after the twenty fifth day of December, and the twen-
ty fourth day of June aforefaid, in every year, the commiffion-
ers of the treasury, or any three or more of them now being,
or the high treasurer, or any three or more of the commiffion-
ers of the treasury for the time being, fhall cause an exact ac-
count to be made and taken of the monies which fhall, on or
before every respective half-year of and in each and every re-
spective year, have arifen and been brought into the exchequer
in the preceding half-year, for or upon the faid deductions;
and that the monies fo arifing and coming into the exchequer
in such preceding half-year fhall be immediately, from time to
time, paid over to the chief cashier of the bank of England,
towards paying and discharging the annuities aforefaid; and in
cafe the faid deductions fhall at any fuch half-year appear to be
fo deficient, that the fame fhall not be able to answer and
pay so much as fhall then be due for or upon the said annuities
in and by this act appointed and intended to be paid out of the
fame, according to the true meaning of this act, then and in
every fuch cafe, and as often as any fuch deficiencies fhall hap-
pen, the fame fhall be provided for, answered and made good
by and out of any monies arifen or to arife from all or any the
hereditary revenues fettled and appointed for the honour and
dignity of the crown.

XXVII. Provided always, and be it further enacted, That Deficiency,
if it thall be found and appear, that the monies arifing and how to be
made good.
coming into the exchequer by the faid deductions of fix pence
in the pound, in every or any year, fhall have proved fo low
and deficient, as not to have brought into the exchequer the
faid full yearly fum of thirty thoufand pounds, that then and in
every fuch cafe, and fo often as any fuch deficiency thall for
happen, the arrears shall be paid and made good out of the first .
money that shall arife or be brought into the exchequer for or
upon the faid deductions, after the end of fuch a year wherein
fuch deficiency happened; and any fum or fums of money paid
out of his Majesty's faid hereditary revenue fhall be alfo replaced
and paid out of the fame; any thing herein contained to the
contrary notwithstanding.

XXVIII. Provided always, and be it enacted by the autho- Surplus to rerity aforefaid, That in cafe at the end of any one year the monies main in the arifing into the exchequer by and out of the faid deductions of exchequer. fix pence in the pound fhall be more than fufficient to answer and pay the faid thirty thoufand pounds per annum, and to replace what may have been in the fame year iffued out of the faid hereditary revenues, towards making good the fame, fuch furplus fhall from time to time be referved in the exche

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quer,

: