Page:A Collection of Charters and Statutes relating to the East India Company.pdf/107

Rh Reduced Three Pounds per Centum Annuities, and One million four hundred thousand Pounds Consolidated Bank Annuities, together with the Sinking Fund and Charges herein before provided in respect thereof, and in Payment of which the said United Company shall have made Default.

VII. Provided always, and be it further enacted, That it shall and may be lawful to and for the said United Company, if they shall see fit, at any Time, and from Time to Time, to pay into the Hands of the said Governor and Company of the Bank of England any farther Sum or Sums of Money beyond the said Two several annual Sums of Fifty-five thousand four hundred and ten Pounds and Fifty-five thousand four hundred and ten Pounds, on Account of the Sinking Fund, for the Redemption of the said Two Capital Sums of Three Millions Reduced Three Founds per Centum Annuities and One million four hundred thousand Pounds Consolidated Three Pounds per Centum Annuities.

VIII. And be it further enacted, That the said Sums of Ninety thousand Pounds and Forty-two thousand Pounds herein-before provided to be paid by the said United Company to the said Governor and Company of the Bank of England shall be applied by them in Payment of the said Annuities, in respect of the said principal Sums of Three' millions and One million four hundred thousand Pounds, as the same shall become due, and that the said Two several Sums of Fifty-five thousand four hundred and ten Pounds, and Fifty-five thousand four hundred and ten Pounds, and such other Sum and Sums of Money as shall from Time to Time be paid to the said Governor and Company of the Bank of England, or their Cashier, on Account of the Sinking Fund, for the Re­demption of the said several Capital Sums of Three Millions Reduced Three Pounds per Centum Annuities, and One million four hundred thousand Pounds Consolidated Three Pound per Centum Annuities, shall be by the said Governor and Company of the Bank of England placed to the Account of the Commissioners for the Reduction of the National Debt, instead of the Sums which would have been issued and placed to the Account of the said Commissioners in respect of the said Capital Stock of Three Millions Reduced Annuities, and One million four hundred thousand Pounds Consolidated Annuities, under the Act passed in the Thirty-second Year of His present Majesty's Reign, intituled, "An Act to render more effectual an Act made in the Twenty-sixth Year of His present Majesty's Reign, intituled, 'An Act for vesting certain Sums in Commissioners at the End of every Quarter of a Year, to be by them applied to the Reduction of the National Debt, and to direct the Application of an additional Sum to the Reduction of the said Debt, in case of future Loans;'" and the said Commissioners shall from Time to Time apply; the same and also the Dividend's payable, on any Stock redeemed or purchased therewith, in the Purchase of Capital Stock of the public Annuities of Great Britain bearing an Interest of Three Pounds per Centum, in such Manner as is directed by any Act or Acts now in Force with respect to any other Sums issued to the said Commissioners for the Reduction of the National Debt; and all and every the Powers and Authorities, Regulations and Provisions contained in any such Act or Acts respecting the Application of Monies issued or placed to the Account of the said Commissioners, shall be exercised and applied and be in full Force with respect to the Monies issued or placed to the Account of the said Commissioners by virtue of this Act, in so far as the same are; applicable, and except where the same are herein expressly varied, as fully as if the same were particularly re-enacted herein.

IX. And be it further enacted, That a separate Account shall be kept of the Amount of the Capital Stock of the Public Annuities of Great Britain, bearing an Interest of Three Pounds per Centum, purchased or redeemed by the Operations of the said Two several Sums of Fifty-five thousand four hundred and Ten Pounds and Fifty-five thousand four hundred and Ten Pounds, and such other Sum or Sums of Money as from Time to Time may be paid into the Hands of the said Governor and Company of the Bank of England, or their Cashier, on Account of the Sinking Fund, for the Redemption of the said Two several Capital Sums of Three Millions Reduced Three Pounds per Centum Annuities, and One million four hundred thousand Pounds Consolidated Three Pounds per Centum Annuities, and also of the Dividends payable out of any Stock redeemed or purchased therewith; and whenever and so soon, as the Sum of Four millions four hundred thousand Pounds Capital Stock of the Publick Annuities of Great Britain bearing an Interest of Three Pounds per Centum, being the Amount of the said Two several Sums of Three Millions, Reduced Annuities and One million four hundred thousand Pounds Consolidated Annuities, created by the said Sum of Two millions five hundred thousand Pounds, shall have been purchased or redeemed by the Operation of the said Two several Sums of Fifty-five thousand four hundred and ten Pounds and Fifty-five thousand four hundred and ten Pounds, and such other Sum or Sums of Money as may be paid on Account of the said Sinking Fund as herein-before mentioned, and of the Dividends payable on any Stock redeemed or purchased therewith; then and from thenceforth