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fifth part thereof on or before the fourteenth day of July then next ensuing; and the remaining fifth part thereof on or before the twenty second day of September then next following: all which annuities, so to be purchased, shall 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 blessed Virgin Mary, and of Saint Michael the Archangel, by even and equal portions, or within six days after every of the .said feast days; the first payment thereof to be due and payable at the feast day of the annunciation of the blessed Virgin Mary, which (hall be in the year of our Lord one thousand seven hundred and forty Annuities re- eight, or within six days after the said feast day: nevertheless, dcemable. the said annuities (hall be redeemable according to the purport and true meaning of a proviso or condition hereinafter mentioned in that behalf, and not otherwise; and the said cashier or cashiers of the said governor and company of the bank of Eng

CaOiier of the ^an^ ^or ,'ie t'me ^e'nS' 'S an<^ are hereby authorized and reb.mk to give quired forthwith to give receipts in writing, signed by himself receipts. or themselves, to such contributor or contributors, for all sums of money by them deposited with, or paid unto such cashier or cashiers before the passing of this act; as also for such other sum or sums of money as stiall hereafter be advanced and paid to him or them by any such contributors or payers thereof as RfcMpts to be aforesaid (which receipts (hall be assignable by endorsement there-asligiubie. upon made at any time before the twenty second day of September, one thousand seven hundred and forty seven, and no longer;) O liiertogive provided the said cashier or cashiers do first give security to the security. good liking of any three or more of the commissioners of the treasury now being, or of the high treasurer, or commissioners of the treasury for the time being, for duly answering and paying into the receipt of his Majesty's exchequer, all the monies which he or they have already received, or (hall hereafter receive, from time to time, of or for the said sum, not exceeding four millions, as fast as he or they (hall receive the fame, or any part thereof, and to account for all the monies so to be advanced and paid to him or them, in his Majesty's court of exchequer, according to the due course thereof. Book to be XLVII. And it is hereby enacted, That in the office of the kept for <rn- accomptant general of the governor and company of the bank of tering contri- Englan<l sor the time being, there (hall be provided and kept a butors names, book Qr boolcSj in which there ^\\ be fairly entered the names of all who (hall be contributors for such annuities, after the rate of four pounds per centum per annum as aforesaid, and of all persons by whose hands the said contributors (hall pay in any of the said sums upon this act, and also the sums so paid; and the said accomptant general is hereby also authorized and required, upon the full payment of the sum of four millions to the said Contributor* calhicr or cashiers by such contributors as aforesaid, forthwith

with'an^ddU t0 p'ace t0 the cre°'t °^ cvei7 sucn contributor, in the same

tiona capital hook or books as are herein before directed to be provided by

of 10 i, for the said accomptant general, for entering the names of all such

every 1001. "COn.

contributors, and the sums by them paid for the purchase of the said annuities, an additional capital of ten pounds, to be added to every sum of one hundred pounds, by them respectively advanced for the purposes aforesaid, and so in proportion fora greater or lesser sum; which said additional capital (hall be attended with annuities after the rate of four pounds per centum per annum, and to carry 4.1, shall be charged upon, and paid out of the said rates, and duties Per cenkinby this act granted, at the fame feast days, and in the fame man-tereltner, as the annuities herein before made payable, in respect of the said principal sum of four millions, are to be paid and payable, and subject also to the same proviso of redemption by parliament herein after contained in that behalf; and it mail and Contributors may be lawful for the said respective contributors, their execu- to inspect the tors, administrators, successors, and assigns, from time to time, books Sratls« and at all seasonable times, to have resort to, and inspect the said book or books without any fee or charge; and the said accomptant general for the time being shall, on or before the twenty fourth day of June, one thousand seven hundred and Duplicate of forty nine, transmit an attested duplicate, fairly written on she book to be paper, of the said book or books, into the office of the auditor111 tlie exch*of the receipt of his Majesty's exchequer, there to remain for<,aer' ever.

XLVIII. And it is hereby enacted by the authority aforesaid, Annuities enThat all and every contributor and contributors upon this act, sured to the duly paying the whole consideration or purchase-money, at the contributors, rate aforesaid, at or before the respective days and times in this, act limited in that behalf, for such annuity or annuities as aforesaid, or such as he, (he, or they shall appoint, his, her, or their respective executors, administrators, successors, and assigns, shall have, receive, and enjoy, and be intitled by virtue of this act, to have, receive, and enjoy, the respective 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 aforesaid, out of the monies by this act appropriated or appointed for payment thereof as aforesaid, and (hall have good and sure estates and interests therein for ever, subject only to the proviso 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 sums for which the fame are payable, shall free from be free from all taxes, charges, and impositions whatsoever. tax£S

XLIX. And it is hereby provided and enacted by the autho- Monies paid rity aforesaid, That all and every person or persons who shall before the become interested in, or intitled to any annuity or annuities, times limited, part of the said sum of four millions subscribed for in pursuance of this act, who shall, before the passing of this act, have advanced or paid, or (hall hereafter advance and pay to the 1 said cashier or cashiers, the whole or any part of the remaining purchase-money, payable in respect thereof, before any of the respective days or times herein limited or appointed for payment

to carry 5I. per cent, interest.

On payment of the whole purchase money,

the annuities to be transferable.

Contributors not paying within the times limited,

to forfeit the sum advanced

Chief cashier and accomptant general to be appoint ed.

thereof, such person or persons shall be allowed interest after the rate of five pounds per centum per annum, for all and every such sum and sums of money as shall be so advanced and paid to such cashier or cashiers, by any such contributors as aforesaid, from the respective time or times of their actual payment thereof, to Michaelmas, one thousand seven hundred and forty seven; and the commissioners of his Majesty's 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, are hereby authorized and required to cause the said interest to be paid upon such respective sums as shall be so advanced acaccordingly, out of the monies to be contributed in pursuance of this act; and in cafe any such person or persons shall compleat the payment of the whole purchase-money, payable for any such annuities, he, she, or they shall have such respective sums as they shall become interested in, or intitied unto, forthwith placed to the credit of the said contributors, and made transferrable in the books of the bank of England, by this act appointed to be kept for that purpose.

L. Provided, That in case any such contributors as* afore-r said, who have already deposited with the said cashier or cashiers, one tenth part of his, her, or their purchase-money, or his, her, or their executors, administrators, successors, or assigns, do not advance and pay to the said castiier or cashiers, one other tenth part of his, her, or their consideration-money, so to be paid for such respective annuity or annuities as aforesaid, on or before the seventeenth day of February, one thousand seven hundred and forty six; and one fifth part thereof, on or before the seventeenth day of March, then next ensuing; and one other fifth part thereof on or before the nineteenth day of May, then next ensuing; and one other fifth part thereof, on or before the fourteenth day of July, then next ensuing; and the remaining fifth part thereof on or before the twenty second day of September, then next following; then and in every such case respectively, so ■ much of the consideration-money as (hall have been actually paid in part thereof only to the said cashier or cashiers for such respective annuity, shall be forfeited for the benefit of the publick; anything in this act contained to the contrary notwithstanding.

LI. And for the more easy and sure payment of the several annuities by this act authorized to be purchased as aforesaid, amounting in the whole to the sum of four millions, as also of the several annuities payable in respect of the said additional capital, it is,hereby further enacted by the authority aforesaid, That the said governor and company of the bank of England, and their successors, shall from time to time, until the said several and respective annuities, after the rate of four pounds per tentumper annum, shall be redeemed according to this act, appoint and employ one or more sufficient person or persons, within their office in the city of London, to be their chief cashier or cashiers, . and one other sufficient person, within the same office, to be their accomptant general j and that so "much of the monies, from time

Jo

to time arising into the said receipt of the exchequer, for the said

rates and duties by this act appropriated for this purpose as shall

be sufficient, from time to time, to answer the said several and

respective annuities, and other payments directed to be paid or

discharged out of the same, shall, by order of the commissioners

of the treasury, or any three or more of them now being, or the

high treasurer, or commissioners of the treasury of his Majesty,

his heirs, or successors for the time being, without any further

or other warrant to be sued 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

issued and paid at the said receipt of exchequer, to the said first Monjesfbrthe

or chief cashier or cashiers of the said governor and company of ?" ur11'?!0

the bank of England, and their successors for the time being, tjfe exche-s0ni

by way of imprest, and upon account, for the payment of thequer, &c.

said several and respective annuities to be purchased upon this

act, as of the annuities payable in respect of the said additional

capital as aforesaid, at such time, and in such manner and form,

as are by this act prescribed in that behalf; and that all and every Cashiers to

such caihier or cashiers, to whom the said monies shall from make pay

time to time be issued, shall, 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 also enacted, That the said accomp- Accom tant general for the time being, shall from time to time inspect general to inand examine all receipts and payments of the said cashier or (pest the cacashiers, and the vouchers relating thereunto, in order to pre- slliers receipt*, vent any fraud, negligence, or delay; and that all and every person and persons whatsoever, who shall be intitled to any of Annuities to the said several and respective annuities, after the rate of four be a personal pounds per centum per annum, and all persons lawfully claiming estate, &c. under them, mall be possessed thereof as of 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.

LIII. And be it further enacted by the authority aforesaid, xhe monies That all the monies to be advanced or contributed, or to which contributed tb any person or persons shall become intitled to upon this act, for he a i0'"t or towards the said sum, not exceeding four millions, together ^ock>&Cl with the additional capital of ten pounds, herein before directed to be added to every one hundred pounds advanced by such contributors, (hall 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 aforelaid, upon this act, shall bave, and be deemed to have, a proportional interest and share in the said stock, and in the annuity

attending

transferable.

Book to be kept for transfers.

Entries to be signed by the parties transferring and accepting.

Annuities deviseable, &c.

In default ot devise, &c. to executors.

The bank to continue a company till •redemption of the annuities.

No fee for payment of contributionmoney.

Transfers to be gratis.

attending the fame, at the rate aforesaid; and that the said who!; capital or joint stock, or any share or interest therein, and the proportional annuity attending the same, shall be assignable and transferrable as this act directs, and not otherwise; and that there shall constantly be kept, at all seasonable times, in the office of the said accomptant general for the time being, within the city of London, a book or books, wherein all assignments or transfers of the said whole capital or joint stock, or any part thereof, and the proportional annuity attending the same, at the rate aforesaid, (hall be entered and registered; which entries shall be conceived in proper words for that purpose, and shall be signed by the parties making such assignments or transfers, or if such parties be absent, by his, her,- or their attorney or attornies thereunto lawfully authorized, in writing under his, her, or their hands and seals, to be attested by two or more credible witnesses j and that the person or persons to whom such transfer shall be made do under-write his, her, or their acceptance thereof; and that no other method of assigning or transferring the said stock, and the annuities attending the fame, or any part thereof, or any interest therein, (hall be good or available in law.

LTV. Provided always, That any person or persons possessed of such stock, with the annuity or annuities attending the same, or any estate or interest therein, may devise the same by will in writing, attested by two or more credible witnesses; but that such devisee shall receive no payment thereupon, till so much of the said will, as relates to the said stock or annuity, be entered in the said office; and in default of such transfer or devise, the said stock, and annuities attending the fame, shall go to the executors or administrators; and that no stamp duties whatsoever shall be charged on the said transfers or any of them j any other law or statute to the contrary notwithstanding.

LV. Provided always, and it is hereby enacted by the authority aforesaid, That the said governor and company of the bank of England, and their successors (notwithstanding the redemption of all or any their own funds, in pursuance of the acts for establishing the same, or any of them) shall 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 shall be redeemed by parliament, according to the proviso herein after contained in that behalf; and the said governor and company, or any members thereof, (hall not incur any disability, for or by reason of their doing any matter or thing in pursuance of this act.

LVI. And it is hereby enacted by the authority aforesaid, That no fee or gratuity whatsoever shall be demanded or taken of any of his Majesty's subjects for receiving or paying the said contribution-monies, or any of them, or for any tallies or other receipts concerning the fame, or for issuing the monies for paying the said several annuities, or any of them; and that no fee or gratuity sliall be demanded or taken for any transfer of any

sum

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