Page:Probate and Legacy Duties Act 1808 (ukpga 18080149 en).pdf/8

1464 Time after the Payment thereof; or if any Person or Persons paying or causing to be paid, any such Note, Bill, Draft, or Order as aforesaid, shall refuse or neglect to cancel the same, according to the Directions of this Act; then and in either of those Cases the Person or Persons so offending shall, for every such Offence, forfeit the Sum of Fifty Pounds; and in case of any such Note, Bill, Draft, or Order being re-issued, contrary to the Intent and Meaning of this Act, the Person or Persons re-issuing the same, or causing or permitting the same to be re-issued, shall also be answerable and accountable to His Majesty, His Heirs and Successors, for a further Duty, in respect of every such Note, Bill, Draft, or Order, of such and the same Amount as would have been chargeable thereon, in case the same had been then issued for the first Time, and so from Time to Time as often as the same shall be so reissued ; which further Duty shall and may be sued for and recovered accordingly as a Debt to His Majesty, His Heirs Penalty on and Successors; and if any Person or Persons shall receive or take any such taking Notes Note, Bill, Draft, or Order, in Payment of or as a Security for the Sum re-issued therein expressed, knowing the same to be re-issued contrary to the Intent and Meaning of this Act, he, she, or they shall for every such Offence forfeit the Sum of Twenty Pounds.

XXVI Provided always, and be it further enacted, That all Promissory Notes and Bills whatsoever, which shall be issued by the Governor and Company of the Bank of England, from and after the said Tenth Day of October One thousand eight hundred and eight, shall be freed and exempted from all the Duties hereby granted ; and that the said Governor and Company shall, in lieu of and as a Compensation for the Duties, which would otherwise have been payable for such their Notes and Bills, pay into the Hands of the Receiver General of the Stamp Duties for the Time being the yearly Sum of Forty-two thousand Pounds, by Two equal Half-yearly Payments, to be made on or before the Fifth Day of April and the Tenth Day of October in every Year, and the first Payment thereof to be made on or before the Fifth Day of April One thousand eight hundred and nine; and it shall be lawful for the said Governor and Company to re-issue any of their Notes after Payment thereof, as often as they shall think fit : Provided always, that the said yearly Compensation shall be reduced by the Sum of Four thousand Pounds, when the said Governor and Company shall cease to issue Promissory Notes for less than Two Pounds, agreeably to the Provision of the Act of the Thirty-ninth Year of His Majesty's Reign, for granting to His Majesty certain Stamp Duties on Bills of Exchange and Promissory Notes for small Sums of Money.

XVI. Provided also, and be it further enacted, That from and after the Tenth Day of October One thousand eight hundred and eight it shall be lawful for the Governor and Company of the Bank of Scotland, and the Royal Bank of Scotland, and the British Linen Company in Scotland, respectively, to issue their Promissory Notes for the Sums of One Pound, One Guinea, Two Pounds, and Two Guineas, payable to the Bearer on Demand, on unstamped Paper, in the Manner hitherto practised with regard to Notes of One Pound and One Guinea by the said Bank of Scotland and Royal Bank of Scotland, under the Authority of the said Act, passed in the Thirty-ninth Year of His Majesty's Reign, for granting to His Majesty }} tain