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before the respective 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 sum of ten pounds, or divers entire

sums of ten pounds, upon this act; and that every such contributor

or adventurer for every such sum of ten pounds, which he, she.

or they (hall so advance, shall be interested in such lot or share

of and in the said yearly fund established by this act, as is herein

after directed and appointed, and the fame entire sums of ten

pounds each are hereby appointed to be paid unto such receiver

or receivers at such time or times, and in such proportions at a

time, on or before the twenty fourth day of June one thousand

seven hundred and twenty six, as shall be appointed by the lords

commissioners of his Majesty's treasury, or any three or more*

of them, or the lord high treasurer for the time being; and the Allowance for

said commissioners of his Majesty's treasury, or the high trea- pa^

surer for the time being, are hereby impowered to cause such an

allowance out of the sum so to be contributed, or any of them

for prompt payment, to be made as he cr they in his or their

discretion sliall think meet and reasonable. , .

IV. And be it further enacted by the authority aforesaid, Treasury to That such persons as the commissioners of his Majesty's trea- aPP0lnt ma~ sury, or any three or more of them now being, or the high nagers' treasurer, or any three or more of the commissioners of the treasury for the time being, sliall nominate or appoint, shall be managers and directors for preparing and delivering out tickets, and to oversee the drawing of lots, and to order, do and perform such other matters and things as are hereafter in and by this act directed and appointed by such managers and directors to be done and performed; and that such managers and direc- g00^ tors shall meet together from time to time at some publick office three Columns or place, for the execution of the powers and trusts in them re- to be prepared, posed by this act; and that the said ^managers or directors, or * so many of them as shall be present at such meeting, or the major part of them, sliall cause books to be prepared, in which every leaf sliall be divided or distinguished into three columns, and upon the innermost of the said three columns there sliall be printed one hundred thousand tickets, numbred one, two, three, and so onwards in arithmetical progression, where the common v 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 said books shall be printed one hundred thousand tickets, of the fame breadth and form, and numbred in like manner 3 and in the extreme column of the said books there sliall be printed a third rank or series of tickets, of the fame number with those of the.other two columns; which tickets sliall severally be of an oblong figure, and in the (aid books sliall be joined with oblique lines rlourislies or devices, in such manner as the said managers and directors, or the major part of them, sliall think most "safe and convenient; and that every ticket in the third or extreme column of the said books sliall have written or printed threupon (besides the number of such ticket) words to this effect, the

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

Treasury to appoint receivers. Managers to examine the books. Tickets not disposed of to be kept as cash in the exchequer. Middle column tickets to be rolled up, and put into box [A], Innermolt to remain in the books. Other books with two columns. 8000 tickets shall be fortunate, and the managers mail cause to be written upon one of them 20,000k upon two io,oool. upon two 5000I. upon three 3000I. upon five 2,000k upon twenty eight 1000I. upon forty nine 500I. upon three hundred and sixty 1 ool. upon seven thousand five hundred and fifty 20I. which principal sums, together with 500I. to the first drawn ticket, and 1000L to the last drawn ticket, will amount to 310,000k which being added to 690,000k payable on the blanks, do amount together to iooo,oool. No money to be received after 24. June 1726. Method of drawing. Fortunate tickets to be printed. Counterfeiting t'-ckets felony. Treasury to reward the managers. Guardians may contribute for infants, &c. Tickets to be exchanged for certificates. Bank to give credit, Sec. E X P.

Ab x>k to be XIX. And be it further enacted by the authority aforesaid, kept for that That the said accomptant general of the bank of England for purpose. t^ t-me ^eing, to whom the said certificates are to be directed as aforesaid, shall, upon receiving and taking in of the said certificates, or any of them, give credit to the persons named therein, in a book or books to be by him provided and kept for Annuities as- that purpose, for the principal sums contained in every such cersignable. tificate; and the persons to whose credit every the said principal sums (hall be entred in the said book or books, his, her or their executors and administrators, (hall and may have power to assign and transfer the fame, or any part, (hare or proportion thereof, to any other person or persons, bodies politick and corporate whatsoever, in other books to be provided and kept by the said accomptant general for that purpose; and the principal sums so assigned or transferred {hall carry the said annuity of three pounds per centum per annum, and (hall be taken and deemed to be stock transferrable by this act, according to the power and authority herein aftermentioned, until the redemption thereof as aforesaid: and the said accountant general of the bank of England for the time being is hereby authorized and directed to cancel and file the certificates as they (hall from time to time be received and taken in by him, and to give the persons bringing the fame a note under his hand, testifying the principal money for which they have credit in the said book or books, by reason or means of the certificates so received, taken in and cancelled as aforesaid, and of the annuity attending the same. 3I. per cejit. XX. And it is hereby enacted, That every person so to be iiUcreiK named in the said certificates, his, her and their executors, administrators and assigns, shall 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 respective principal sums specified in such certificate, until redemption thereof, according to the proviso herein after contained in that behalf, out of the money of the said yearly fund by this act established and appropriated for that purpose; which annuities shall be payable and paid halfyearly at the feast-days above-mentioned, by even and equal payable halfportions, or within fix days next after every or any such feast- yearly» days, until the said annuities shall be redeemed by paying off the said respective principal sums and all arrearages of the fame' annuities, if any be, according to the proviso 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 six, or within fix days after; and that the said yearly sum of thirty thousand pounds, or so much thereof as shall be sufficient from time to time to answer and satisfy the said annuities after the rate of three pounds per centum per annum-, as the fame shall become due, are and (hall 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 said annuities pay- Tax free, able after the rate of three pounds per centum per annum, and all

and every the principal sums for which the fame are to be payable mall be free from all taxes, charges and impositions whatsoever.

XXII. And be it enacted by the authority aforesaid, That Bank to apthe said governor and company of the bank of England, and point a chief their successors, shall from time to time, until the said annuities cashier and acafter the rate of three pounds per centum per annum shall be re- nerai^1^ deemed according to this act, appoint and employ one sufficient person within their office in the city of London to be their

chief or first cashier, and one other sufficient person within the same office to be their accountant general; and that the said cashier or cashiers, to whom the said monies shall 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 same accordingly, and render his account thereof according to the due course of the exchequer: and the said accountant general for the time being shall from time to time inspect and examine all receipts and payments of the said cashier, and the vouchers relating thereunto, in order to prevent any fraud, negligence or delay; and that all persons and corporations, who shall be entitled to any of the same annuities, so to be payable by the cashier of the bank of England for the time being, pursuant to this act, and all persons Annuities a claiming under them, shall be possessed thereof as a personal e- ftate ^Co~ state, and the fame 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.

XXIII. And be it further enacted by the authority aforesaid, The annuities That all the principal monies for which the said several annui- a joint ilock, ties, after the rate of three pounds per centum per annum, nhall

be payable by the cashier of the bank of England for the time being as aforesaid, shall be deemed and taken to be one capital "y 3 QV dr joint stock on which the same annuities (hall be attending;, and shall be called, the joint sock of three pounds per centum annuities; and that all persons and corporations, in proportion to their respective annuities, shall have a (hare in such stock; and that all such mares shall be assignable, transferrable and deviseable in the same manner as is prescribed by act or acts of parliament made in the hill year of his Majesty's reign, touching the annuities after the rate of five pounds per centum per annum therein mentioned; and that no stamp-duties whatsoever (hall be chargeable on such transfers; and that the said 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 establishing the same, or any of them) (hall continue a corporation to all intents and purposes, relating to the receiving, paying or accounting for the said annuities of three pounds per centum per annum so payable by their camier, till the same shall be redeemed according to this act 3 and that the said governor and company of the bank of England^ or any members thereof, shall not incur any disability for or by reason of their .doing; any matter or thing in pursuance of this act. Noste. XXIV. And it is hereby enacted by the authority aforesaid,

That no fee or gratuity whatsoever shall or may be demanded or taken of any of his Majesty's subjects for paying the said annuities of three pounds per centum per annum, or any of them, by the said cashier for the time being \ and that no fee or gratuity mall be demanded or taken for any transfer of any sum, great or small, to be made in pursuance of this act, upon pain that any officer or person offending, by taking any fee or gratuity contrary to this act, shall forfeit the sum of twenty pounds to the partv grieved, to be recovered with full costs in any of his Majesty's courts of record at Westminster. Crown ma XXV. Provided always, and it is hereby enacted by the au

rede* mTMhe thority aforesaid, That it sliall and may be lawful to and for annuities. the King's majesty, his heirs or successors, at any time, upon fix months notice to be given under his or their sign manual, and affixed upon the Royal Exchange in London^ at any of the feast-days of payment of the said annuities, to redeem the seme annuities, and every of them, by paying to the then proprietors of the fame annuities the consideration or purchase-money which was originally paid for the fame (without deduction of the allowance for prompt payment) and all arrearages of the said annuities which shall be incurred till the time of such payment, to be made at the then next ensuing half-yearly feastday; and that from and after such payment made, or reserving money in the exchequer ready to make such payment on demand, that then and not till then the same annuities and every of them shall from thenceforth cease and determine, and the said revenues shall be discharged of, from and against the , same.

Appropria- XXVI. And for the better ascertaining and securing the paytion of the de- t 0£ tjie annuit;es aforesaid, beat further enacted by the au~ duchonsof 6d. ^' tWitv thority aforesaid, That all such monies as shall arise and come in the pound into the receipt of the exchequer, of and from the deductions t0 .t{?ese an* of fix pence in the pound as aforesaid, shall be applied and appro- nmties# priated, and the fame are hereby accordingly appropriated for and towards paying and discharging the said annuities, till redeemed as aforesaid, and that half-yearly, to wit, on or within twenty days next after the twenty fifth day of December; and the twenty fourth day of June aforesaid, in every year, the commissioners of the treasury, or any three or more of them now being, or the high treasurer, or any three or more of the commissioners of the treasury for the time being, (hall cause an exact account to be made and taken of the monies which shall, on or before every respective half-year of and in each and every respective year, have arisen and been brought into the exchequer in the preceding half-year, for or upon the said deductions; and that the monies so arising and coming into the exchequer in such preceding half-year (hall be immediately, from time to time, paid over to the chief cashier of the bank of England, towards paying and discharging the annuities aforesaid; and in case the said deductions shall at any such half-year appear to be so deficient, that the same (hall not be able to answer and pay so much as (hall 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 such case, and as often as any such deficiencies shall happen, the same shall be provided for, answered and made good by and out of any monies arisen or to arise from all or any the hereditary revenues settled and appointed for the honour and dignity of the crown.

XXVII. Provided always, and be it further enacted, That Deficiency, if it shall be found and appear, that the monies arising and ll0w t0 be coming into the exchequer by the said deductions of six pence ma<^e^°°d» in the pound, in every or any year, shall have proved so low

and deficient, as not to have brought into the exchequer the said full yearly sum of thirty thousand pounds, that then and in every such case, and so often as any such deficiency shall so happen, the arrears .hall be paid and made good out of the first . money that shall arise or be brought into the exchequer for or upon die said deductions, after the end ot such a year wherein such deficiency happened; and any sum or sums of money paid out of his Majesty's said hereditary revenue shall be also replaced and paid out of the lame; any thing herein contained to the contrary notwithstanding.

XXVIII. Provided always, and be it enacted by the autho- Surplus to rerity aforesaid, That in case at the end of any one year the monies main in the arising into the exchequer by and out of the said deductions of exchequer, fix pence in the pound shall be more than sufficient to answer

and pay the said thirty thousand pounds per annum ^ and to replace what may have been in the fame year issued out of the said hereditary revenues, towards making good the fame, such surplus shall from time to time be reserved in the exche-?

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