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deemable.

fifth part thereof on or before the fourteenth day of July then next enfuing; and the remaining fifth part thereof on or before the twenty fecond day of September then next following: all which annuities, fo to be purchased, fhall be paid and payable at two of the most usual feasts or days of payment in the year; that is to fay, the feasts of the annunciation of the bleffed Virgin Mary, and of Saint Michael the Archangel, by even and equal portions, or within fix days after every of the faid feaft days; the first payment thereof to be due and payable at the feast day of the annunciation of the bleffed Virgin Mary, which shall be in the year of our Lord one thousand seven hundred and forty Annuities re- eight, or within fix days after the faid feast day: nevertheless, the faid annuities thall be redeemable according to the purport and true meaning of a provifo or condition herein after mentioned in that behalf, and not otherwife; and the said cashier or cafhiers of the faid governor and company of the bank of EngCahier of the land for the time being, is and are hereby authorized and rebank to give quired forthwith to give receipts in writing, figned by himself or themselves, to fuch contributor or contributors, for all fums of money by them depofited with, or paid unto fuch cashier or cafhiers before the paffing of this act; as alfo for fuch other fum or fums of money as fhall hereafter be advanced and paid to him or them by any fuch contributors or payers thereof as Receipts to be aforefaid (which receipts fhall be affignable by endorsement thereaffignable. upon made at any time before the twenty fecond day of September, one thousand seven hundred and forty seven, and no longer;) Cahier to give provided the faid cafhier or cafhiers do firft give fecurity to the fecurity. good liking of any three or more of the commiffioners of the treasury now being, or of the high treasurer, or commiffioners of the treafury for the time being, for duly anfwering and paying into the receipt of his Majefty's exchequer, all the monies which he or they have already received, or fhall hereafter receive, from time to time, of or for the faid fum, not exceeding four millions, as faft as he or they shall receive the fame, or any part thereof, and to account for all the monies fo to be advanced and paid to him or them, in his Majesty's court of exchequer, according to the due course thereof.

receipts.

Book to be

kept for en
tering contri-
butors names,

&c.

XLVII. And it is hereby enacted, That in the office of the accomptant general of the governor and company of the bank of England for the time being, there fhall be provided and kept a book or books, in which there fhall be fairly entered the names of all who shall be contributors for fuch annuities, after the rate of four pounds per centum per annum as aforefaid, and of all perfons by whofe hands the faid contributors fhall pay in any of the faid fums upon this act, and alfo the fums fo paid; and the faid accomptant general is hereby alfo authorized and required, upon the full payment of the fum of four millions to the faid cafhier or cashiers by fuch contributors as aforefaid, forthwith to place to the credit of every fuch contributor, in the fame tional capital book or books as are herein before directed to be provided by the faid accomptant general, for entering the names of all fuch

Contributors

to be credited
with an addi-

of 101, for
every 100 l.

con

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1

terest.

contributors, and the fums by them paid for the purchase of the faid annuities, an additional capital of ten pounds, to be added to every sum of one hundred pounds, by them refpectively advanced for the purposes aforefaid, and fo in proportion for a greater or leffer fum; which faid additional capital fhall be attended with annuities after the rate of four pounds per centum per annum, and to carry 41. shall be charged upon, and paid out of the faid rates, and duties per cent. inby this act granted, at the fame feaft days, and in the fame manner, as the annuities herein before made payable, in respect of the faid principal fum of four millions, are to be paid and payable, and fubject alfo to the fame provifo of redemption by parliament herein after contained in that behalf; and it fhail and Contributors may be lawful for the faid respective contributors, their execu- to inspect the tors, adminiftrators, fucceffors, and affigns, from time to time, books gratis. and at all seasonable times, to have refort to, and infpect the faid book or books without any fee or charge; and the faid accomptant general for the time being fhall, on or before the twenty fourth day of June, one thousand feven hundred and Duplicate of forty nine, tranfmit an attefted duplicate, fairly written on the book to be paper, of the faid book or books, into the office of the auditor in the excheof the receipt of his Majefty's exchequer, there to remain for quer.

ever.

XLVIII. And it is hereby enacted by the authority aforefaid, Annuities enThat all and every contributor and contributors upon this act, fured to the duly paying the whole confideration or purchase-money, at the contributors, rate aforefaid, at or before the respective days and times in this act limited in that behalf, for fuch annuity or annuities as aforefaid, or fuch as he, fhe, or they fhall appoint, his, her, or their respective executors, adminiftrators, fucceffors, and affigns, fhall have, receive, and enjoy, and be intitled by virtue of this act, to have, receive, and enjoy, the refpective annuity and annuities so to be purchased, together with the annuity or annuities made payable by this act, in respect of the said additional capital as aforefaid, out of the monies by this act appropriated or appointed for payment thereof as aforefaid, and fhall have good and fure eftates and interefts therein for ever, fubject only to the provifo or condition of redemption in this act afterwards contained concerning the fame; and that all the several and respective annuities, payable in pursuance of this act, after the rate of four pounds per centum per annum, on all and every the principal fums for which the fame are payable, fhall free from be free from all taxes, charges, and impofitions whatsoever.

taxes.

XLIX. And it is hereby provided and enacted by the autho- Monies paid rity aforefaid, That all and every person or perfons who fhall before the become interested in, or intitled to any annuity or annuities, times limited, part of the faid fum of four millions fubfcribed for in purfuance of this act, who fhall, before the paffing of this act, have advanced or paid, or thall hereafter advance and pay to the faid cashier or cashiers, the whole or any part of the remaining purchase-money, payable in respect thereof, before any of the refpective days or times herein limited or appointed for payment

C4

thereof,

to carry 51. per cent. in tereft,

thereof, fuch person or perfons fhall be allowed interest after the rate of five pounds per centum per annum, for all and every fuch fum and fums of money as shall be so advanced and paid to fuch cashier or cashiers, by any fuch contributors as aforefaid, from the respective time or times of their actual payment thereof, to Michaelmas, one thousand feven hundred and forty feven; and the commiffioners of his Majefty's treasury, or any three or more of them now being, or the high treasurer, or any three or more of the commiffioners of the treasury for the time being, are hereby authorized and required to caufe the faid intereft to be paid upon fuch respective fums as fhall be fo advanced acaccordingly, out of the monies to be contributed in pursuance of this act; and in cafe any such person or perfons fhall compleat the payment of the whole purchase-money, payable for any fuch annuities, he, fhe, or they fhall have fuch refpective fums as they shall become interested in, or intitled unto, forthwith placed to the credit of the faid contributors, and made the annuities transferrable in the books of the bank of England, by this act appointed to be kept for that purpose.

On payment

of the whole purchase money,

to be tranf

ferrable. Contributors not paying within the

times limited,

L. Provided, That in cafe any fuch contributors as aforefaid, who have already depofited with the faid cafhier or cashiers, one tenth part of his, her, or their purchase-money, or his, her, or their executors, adminiftrators, fucceffors, or affigns, do not advance and pay to the said cashier or cashiers, one other tenth part of his, her, or their confideration-money, so to be paid for fuch respective annuity or annuities as aforesaid, on or before the seventeenth day of February, one thousand seven hundred and forty fix; and one fifth part thereof, on or before the feventeenth day of March, then next enfuing; and one other fifth part thereof on or before the nineteenth day of May, then next enfuing; and one other fifth part thereof, on or before the fourteenth day of July, then next enfuing; and the remaining fifth part thereof on or before the twenty fecond day of September, to forfeit the then next following; then and in every such case respectively, fo fum advanced. much of the confideration-money as fhall have been actually paid in part thereof only to the faid cafhier or cashiers for fuch refpective annuity, fhall be forfeited for the benefit of the publick; any thing in this act contained to the contrary notwithstanding.

LI. And for the more eafy and fure payment of the feveral annuities by this act authorized to be purchafed as aforesaid, amounting in the whole to the fum of four millions, as alfo of the feveral annuities payable in refpect of the faid additional capital, it is hereby further enacted by the authority aforesaid, That the faid governor and company of the bank of England, and their fucceffors, fhall from time to time, until the faid feveral and respective annuities, after the rate of four pounds per centum per annum, fhall be redeemed according to this act, appoint Chief cashier and employ one or more fufficient perfon or perfons, within their and accomp- office in the city of London, to be their chief cafhier or cashiers, tant general to be appoint- and one other sufficient perfon, within the fame office, to be their accomptant general; and that fo much of the monies, from time

ed.

to

to time arifing into the faid receipt of the exchequer, for the faid rates and duties by this act appropriated for this purpose as shall be fufficient, from time to time, to answer the said several and respective annuities, and other payments directed to be paid or difcharged out of the fame, fhall, by order of the commiffioners of the treasury, or any three or more of them now being, or the high treasurer, or commiffioners of the treasury of his Majesty, his heirs, or fucceffors for the time being, without any further or other warrant to be fued for, had, or obtained in that behalf, from time to time, at the respective half-yearly feast days of payment, in this act before appointed for payment thereof, be iffued and paid at the faid receipt of exchequer, to the faid first Monies for the or chief cashier or cashiers of the said governor and company of annuities to the bank of England, and their fucceffors for the time being, the excheby way of impreft, and upon account, for the payment of the quer, &c. faid feveral and respective annuities to be purchased upon this act, as of the annuities payable in respect of the said additional capital as aforefaid, at fuch time, and in fuch manner and form,

be iffued from

as are by this act prescribed in that behalf; and that all and every Cashiers to such cashier or cashiers, to whom the faid monies fhall from make paytime to time be iffued, fhall, from time to time, without delay, ap- ments. ply and pay the fame accordingly, and render his account thereof according to the due course of the exchequer; any thing herein contained to the contrary notwithstanding.

LII. And it is hereby alfo enacted, That the faid accomp- Accomptanttant general for the time being, fhall from time to time inspect general to inand examine all receipts and payments of the faid cashier or fpect the cacashiers, and the vouchers relating thereunto, in order to prethiers receipts. vent any fraud, negligence, or delay; and that all and every perfon and perfons whatfoever, who fhall be intitled to any of Annuities to the faid feveral and refpective annuities, after the rate of four be a perfonal pounds per centum per annum, and all perfons lawfully claiming eftate, &c. under them, fhall be poffeffed thereof as of a perfonal 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 otherwife; any law, ftatute, or custom to the contrary notwith• ftanding.

LIII. And be it further enacted by the authority aforefaid, The monies That all the monies to be advanced or contributed, or to which contributed to any person or perfons fhall become intitled to upon this act, for be a joint or towards the faid fum, not exceeding four millions, together flock, &c. with the additional capital of ten pounds, herein before directed to be added to every one hundred pounds advanced by fuch contributors, shall be deemed, reputed, and taken to be one capital or joint-stock, on which the said several and respective annuities, after the rate of four pounds per centum per annum, shall be attending; and that all and every person and persons and corporations whatsoever, in proportion to the money by him, her, or them advanced, or to which they shall become intitled, as aforefaid, upon this act, fhall have, and be deemed to have, a proportional interest and share in the said stock, and in the annuity

attending

Book to be kept for transfers.

attending the fame, at the rate aforefaid; and that the faid whole capital or joint stock, or any share or intereft therein, and the proportional annuity attending the fame, shall be affignable and transferrable. transferrable as this act directs, and not otherwife; and that there shall conftantly be kept, at all seasonable times, in the office of the faid accomptant general for the time being, within the city of London, a book or books, wherein all affignments or transfers of the faid whole capital or joint ftock, or any part thereof, and the proportional annuity attending the fame, at the rate aforesaid, fhall be entered and registered; which entries fhall be conceived in proper words for that purpose, and fhall be figned by the parties making fuch affignments or transfers, or if fuch parties be abfent, by his, her, or their attorney or attornies thereunto lawfully authorized, in writing under his, her, or their hands and feals, to be attefted by two or more credible witneffes; and that the perfon or perfons to whom such transfer fhall be made do under-write his, her, or their acceptance thereof; and that no other method of affigning or transferring the faid ftock, and the annuities attending the fame, or any part thereof, or any intereft therein, fhall be good or available in law.

Entries to be figned by the parties tranfferring and accepting.

Annuities de

LIV. Provided always, That any perfon or perfons poffeffed vifeable, &c. of fuch ftock, with the annuity or annuities attending the fame, or any estate or intereft therein, may devife the fame by will in writing, attefted by two or more credible witnesses; but that fuch devifee fhall receive no payment thereupon, till fo much of the said will, as relates to the faid ftock or annuity, be entered in the faid office; and in default of fuch transfer or devife, the said stock, and annuities attending the fame, fhall go to the executors or administrators; and that no ftamp duties whatsoever fhall be charged on the faid transfers or any of them; any other law or statute to the contrary notwithstanding.

In default of devife, &c. to executors.

The bank to continue a

LV. Provided always, and it is hereby enacted by the authority aforesaid, That the faid governor and company of the company till bank of England, and their fucceffors (notwithstanding the reredemption of the annuities. demption of all or any their own funds, in pursuance of the acts for establishing the fame, or any of them) fhall continue a corporation, with all the powers, privileges, and advantages thereunto belonging, for the purposes in this act expressed, till all the annuities to be purchased on this act fhall be redeemed by parliament, according to the provifo herein after contained in that behalf; and the faid governor and company, or any members thereof, fhall not incur any difability, for or by reason of their doing any matter or thing in pursuance of this act.

No fee for payment of

money..

LVI. And it is hereby enacted by the authority aforefaid, That no fee or gratuity whatsoever shall be demanded or taken contribution of any of his Majefty's fubjects for receiving or paying the faid contribution-monies, or any of them, or for any tallies or other receipts concerning the fame, or for iffuing the monies for paying the faid feveral annuities, or any of them; and that no fee or gratuity shall be demanded or taken for any transfer of any

Transfers to be gratis.

fum

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