East India Company Act 1788

AN ACT to enable the East India Company to borrow a further Sum of Money upon Bond.

WHEREAS it is expedient, in consideration of the present state of the affairs of the United Company of Merchants of England trading to the East Indies, that the said company should be enabled to issue bonds for the purposes of their trade, and for discharging sundry demands to which they are liable to a larger amount than they are now authorised to do: May it therefore please your Majesty that it may be enacted, and be it enacted by the King's most excellent Majesty, by and with the advice and consent of the lords spiritual and temporal, and commons, in this present Parliament assembled, and by the authority of the same, that it shall and may be lawful to and for the said united company to borrow money upon and issue bonds under their common seal as the affairs of the said united company may require, not exceeding the sum of one million two hundred thousand pounds beyond the sum for which the said united company may now by law issue their bonds.