Page:Ruffhead - The Statutes at Large - vol 5.djvu/319

 A. D. 1719. Anno fexto Georgii Regis. C. 4. 279 XCIII. Provided always, and it is hereby enacted, That as often as any Intereft upon the Exchequer- No In-tereft to a bills to be' made forth, by virtue of this or any other or further Act or Acts, as aforefaid, flmll be demand- kffc( Sum than cd to be paid by the faid Truftces for the Time being, they {hall not be obliged to pay for fuch Intereft to a P "W- any Ieifer Sum than one Penny upon fuch Bill, in cafe a fingle Bill be produced for Payment, •or for the Total of the Intereft of fuch Bills, where two or more fha)l be offered at one Time by the fame Pcrfon ; any Thing herein contained to the contrary notwithltanding. XCIV. Provided alfo, and it is hereby declared and enacted by the Authority aforefaid, That if at any If Provifion be Time or Times hereafter Provifion ihall be made by Authority of Parliament of fo much Money, in the made ^ £ r arlia " lawful Coins of this Kingdom, as lhall be fuflicient to pay off and discharge all the Principal and Intereft ™m£™°"Z which mall be due upon the faid Exchequer-bills to be made forth by virtue of this Act, as aforefaid, or Bills, 1 any Proportion thereof at a Time ; and if by like Authority the fame coined Monies (hall be actually Part thcrect", the brought and paid into the Receipt of Exchequer for that Purpofe, then the fame fhall be applied for or feme to be appii, towards the paying off and difcharging the fame Bills, or fuch Proportion thereof, fo far as fuch Money ed thcrew - will extend, by paying to the refpective Bearer or Bearers of the fame Bill or Bills then Handing out, the Principal and Intereft 'which fhall be due thereupon-, and by placing the fame coined Money, or any Part thereof, in lieu of any the faid Exchequer-bills to be made forth by virtue of this Adt, which lhall then be in the Office or Offices of any Teller or Tellers of the Exchequer to anfwer fuch Payments, whereunto the fame Bills fo remaining in fuch Office or Offices (hall then be legally fubject or liable ; which Payments ihall be anfwered with the faid Money in Specie, under fuch Penalties^ Forfeitures and Disabilities as are in the Ex- to the Bear- id Teller or s themfelves which fhall be fo paid off,' or for which coined Money ihall be fo placed,_ ihall be cancelled ; and the faid Governor and Company of Merchants of Great Britain, and their SucceiTors fhall repay to the refpective Tellers fo much Intereft as remained due upon the fame Bills reflectively, at the Time or Times when they were laft paid into the Exchequer before the cancelling thereof; any Thing in this or any former Act or Acts of Parliament to the contrary ■notwithltanding. XCV And be it enacted by the Authority aforefaid, That if before the faid twenty-fourth Day of June If <*« Bill's be one thoufand feven hundred and twenty-feven, coined Money fhall not be raifed and brought into the Ex- " ot d 'fe har g<=d chequer, fuflicient to pay off and difcharge all the faid Exchequer Bills which fhall be made forth by virtue r L** thwffiall of this Aft, that then and in fuch Cofe, from and after the faid twenty-fourth Day of June one thoufand be difcharged by feven hundred and twenty-feven, the faid Exchequer-bills to be made forth by virtue of this Act, or fo theSinlcing many of them as fhall not have been paid off" and difcharged by fuch coined Money, as aforefaid, ihall be Fund - ' and are hereby charged upon and made payable by and out of the firft Money which ihall, after the faid twenty-fourth Day of June one thoufand feven hundred and twenty-feven, arife into the Exchequer for or' by the aforefaid Surpluffes, Exceffes, and overplus Monies herein before denominated the Sinking Fund, or by or out of Monies to be raifed thereon by way of Loan, after the faid twenty-fourth Day of June one thoufand feven hundred and twenty-feven, and the fame Bills, or fuch of them as ihall fo remain unfatis- fied, ihall be cancelled and difcharged in fuch manner as the Commiffioners of the Treafury, or three or more of them, or the High Treafurer for the Time being fhall direct ; any former Law or Statute to the contrary notwithftanding. XCVI. Provided always, and be it enacted, That the Court of Directors of the faid Governor and Directors with Company of Merchants of Great Britain, for the Time being, (with the Confent and Approbation Q f the-^° nf ' ntofthe Commiffioners of the Treafury, or any three or more of them, or the High Treafurer for the Time bfiag, a fterrfi?SeffioIi and not otherwife) may at any Time or Times after the End of the Seffion of Parliament which fhall next f Parliament " happen after the twenty-fourth Day of June one thoufand feven hundred and twenty-one, by Writing to which mall be befio-ned by the Secretary of the fame Court, and to be affixed upon the Exchange of London, and by after 2 4 J llne Publication in the London Gazette, declare and direct, if they ihall fo fee Caufe, and think fit, the faid. 1721 ' Bills to be made forth by virtue of this Act, or any Number or Part of them, to carry a higher In- d ^' "^J *-*{; tereft than the faid Rate of two Pence -per Centum per Dilw, for fuch Time or Times as fhall be men- niaL/forftoby tioned in fuch Writing or Writings and Publication, as aforefaid, fo as the whole Intereft on fuch Bills do. this ASt, mail not exceed the Rate of three Pence per Centum per Diem : And for the greater Accommodation and Eafe carry, a higher of paying the Bills to be made forth by virtue of this Act, or any of them, to the Receivers and Collectors R-^te of intereft.. of the publick Revenues, and into the Receipt of Exchequer, the faid Commiffioners of the Treafury, or Treaty at the any three or more of them, or the High Treafurer for the Time being, have hereby Power, at the Re- ^ e ? ueft or ' th ? queft of the faid Court of Directors of the Governor and Company of Merchants of Great hritain for the hS : fert™lills Time being, to make forth, or caufe to be made forth, any of the faid Exchequer-bills to be made forth without bearing by virtue of this Ait, without bearing any Intereft ; yet neverthelefs thofe Bills fo made forth without Intereft". hearing any Intereft, may from Time to Time, be made to carry fuch Intereft not exceeding the faid Rate of three Pence per Centum per Diem, as the. Court of Directors of the fame Company fhall by Writing ' figned by the faid Secretary, and to be affixed upon the Exchange of London,, and publifhed in the London' Gazette, fignify and declare in that Behalf. XCVII. Provided always, and be it enacted by the Authority aforefaid, That if at any Time or Times If before 2-4 before the faid twenty-fourth Day of June one thoufand feven hundred and twenty-feven,, any Exchequer- J un f * ?z . 7 ' 3rr J- bills, or Bills in the Nature of Exchequer-bills, fhall be made forth or be current in the publick Revenues ^^"beT ox