Page:Ruffhead - The Statutes at Large - vol 4.djvu/529

 A. D. lyio* Anno nono A N N ^ Reginae. C. 21.' 477 XXII. And be it further enafted by the Authority aforefaid, That in cafe the faid.Duties arifing or ap- Defidency to fce propriated by this A61 {hall at any Time or Times appear to be fo deficient in the Produce of the fame, "^"Jf 8"°'' •'/ as that within any one Year, to be reckoned from and after the five and twentieth Day of December in the ^"'^'"'"^• Year of our I^ord one thoufand {evtn hundred and fixteen, the faid weekly or other Payments upon the fame Rates or Duties, fliall not amount to fo much as fhall be fufficient to difcharge and fatisfy the faid yearly Sum of five hundred fixty-eight thoufand two hundred feventy-nine Pounds and ten Shilli ngs, orfuch proportionable Part thereof, as aforefaid, by this Aft appointed, or intended to be paid within or for the lanie Year refpeftively, that then, and fo often, and in every fuch Cafe, it is hereby declared and enacted. That every fuch Deficiency and Deficiencies fliall be provided for, anfwered, and made good by or out of the next Aids to be raifed and granted by Parliament, and fhall be appropriated and applied for and towards making good the Deficiency which fhall fo happen of the faid yearly Sum of five hundred fixty-eight thou- fand two hundred feventy-nine Pounds and ten Shillings, or fuch proportionable Part thereof, as aforefaid, and to no other Ufe, Intent, or Purpofe whatfoei'er, XXIII. Provided always, and be it further enabled. That in cafe there fliall be any Surplus or Remain- Surplus to be ap> der of the Monies arifing by the Rates and Duties, and Sums of Money granted or appropriated by this p!"=J towards Act, at the End of any one Year after all the faid Annuities, Charges, and Payments, direcfted or authorized principal"^ by this Adt, fliall be fully fatisfied, paid, and difcharged, or Money fufficient fhall be referved for that Pur- pofe, fuch Surplus or Remainder fhall be applied, from time to time, for and towards paying and dif- charging the principal Money of the faid Capital Stock of the faid intended Company, fo far as the fame will, from time to time, extend ; and that the faid yearly Sum of five hundred fixty-eight thoufand two hundred feventy-nine Pounds and ten Shillings, or fuch proportionable Part thereof, as is intended by this Aft to be provided for, fhall be, from time to time, leflened and abated in Proportion to fuch Part of the faid Principal or Capital Stock of the faid Company, which fhall be fo paid oft"; that is to fay, that out of the yearly Sum of five hundred fixty-eight thoufand two hundred feventy-nine Pounds and ten Shillings, to be annually payable to the faid Company by virtue of this Aft, and according to the true Meaning there- of, there fhall be dedufted fo much Money yearly and every Year, as fhall be after the Rate of fix Pounds per Centum per Ammm for the Principal Sum, which fhall be fo paid off and difcharged, or which the Ca- pital Stock of the faid Company fhall really and bona fide coniA of, for the time being, lefs than the faid Prin- cipal or Capital Stock, or Sum of nine millions four hundred feventy-one thoufand three hundred and twenty- five Pounds ; fuch Deduftion and Deduftions to begin and be made from fuch refpeftive Time and Times as fuch Principal Money fhall be fo paid off and difcharged, or the faid Capital Stock fo leflened, as afore- faid : It being the true Intent and Meaning of this Aft, that the Annuity fo to be paid, by virtue of this Aft, unto the faid intended Company or Corporation to be erefted in Purfuance of this Aft, fhall be af- ter the Rate of fix Pounds per Centum per Annum for every hundred Pounds, which the Principal or Capital Stock of the faid Company or Corporation fhall, for the time being, confift of, and proportionably for a lefler Sum than one hundred Pounds, and not any further or other Sum or Sums in refpeft of the faid Annuity. XXIV. Provided always, and it is hereby declared and enafted. That at any Time, upon one Year's On One Year's Notice, after the five and twentieth Day of December in the Year of our Lord one thoufand feven hundred Notice, after and fixteen, upon Repayment by Parliament of the Principal Sum, of which the Capital Stock of the faid ^5 Dec 1716. intended Company fhall, for the time being, confift, unto the refpeftive Contributors of the fame, or to AnnuitLT'to "'^' fuch Perfon or Perfons as by, from, or under them, fhall be entitled to the faid Annuity or Shares of the i-gafe. faid yearly Fund or Capital Stock, in refpeft of the fame, and of all Arrears of the faid Annuities or Explained by yearly Payments, or upon Payment out of fuch Surplus Money, as aforefaid, of all the faid Principal or loAnnse, c. jo. Capital Stock of the faid intended Company, and all Arrears of the faid Annuity payable to them, as afore- faid ; then and from thenceforth all and every the Impofitions, and additional Impofitions, Duties, Rates, ^and Sums of Money hereby granted, continued, or appropriated, fhall and may be difpofed of by Parlia- iment ; and alfo the faid yearly Fund charged thereupon, and the faid Annuities iifuing out of the fame, fhall abfolutely ceafe and determine ; any thing herein contained to the contrary notwithftanding. ' XXV. And forafmuch as it will be for the great Eafe and Advantage of the Perfons concerned in the ' faid Debts and Deficiencies, that they fhould be made one Society or Company, and that the Payments ' from the Exchequer will be much eafier made to fuch Society, or their Cafhiers, for the Ufe of, and to ' by them diftributed to the refpeftive Perfons interefted in the faid Debts, Deficiencies, and other Mo- ' nies, intended to be hereby charged on the faid Funds, than if the fame were to be paid in the ufual Forms ' of the Exchequer to every Perfon concerned ;' and to the End and Intent that the Trade to the South Seas, and other Parts within the Limits herein after-mentioned, may be carried on for the Honour and In- creafe of the Wealth and Riches of this Realm ; Be it enafted by the Authority aforefaid. That it fliall and p' Majcfty by may be lawful for her Majefty, her Heirs and SuccefTors, by Letters Patents under the Great Seal of Great ^.^Tlnco"mSs Britain, to incorporate all and every the Perfon and Perfons, Natives and Foreigners, Bodies Politick or the' company. Corporate, who are and fhall be interefted in or intitled unto any of the Bills, Tickets, Debentures, or Certificates, or other Publick Debts, Deficiencies, or Sums of Money, intended to be provided for by this Aft, and all and every Perfon and Perfons, Bodies Politick and Corporate, who as Executors, Adminiftra- tors, SuccefTors, or AfKgns, or by any other lawful Title, derived or to be derived from, by, or under the original Proprietors, at any Time or Times hereafter, fhall have and be entitled to any Part, Share, or In- tereft of or in the faid yearly Fund by this Aft fettled, as aforefaid, fo long as they refpeftively fhall , have any fuch Part, Share, or Intereft therein, to be one Body Politick or Corporate, in Deed and in Name, and by fuch Name as her Majefty, her Heirs or Succeflbrs fhall think fit, and by that Name to have per- petual Succeffion, and a common Seal, with Power, from time to time, to choofe their Governors, Di- reftors, and other Officers, in fuch Manner, and under fuch Qualifications, as to the Eleftors and elefted, las fhall be direfted in fuch Letters Patents j the firft Governor and Direftors to be nominated by her Ma- 3 jefty?