Page:Ruffhead - The Statutes at Large - vol 5.djvu/375

 d. D. 1720. Anno feptimo Ge org u Regis. Stat. 1. C. 5. Authority aforefaid, That the faid Corporation of the South-Sea Company {hall pay, and be obliged, by Fo ,nd Virtue of this Act (as well before as alter the making any Alignment or Alignments, in Purfi his A£t, to the faid Governor and Company of the Dank of England, and the laid Eojl-India Comp >r either of them) to pay into the Receipt of his Majefty's Exchequer the faid Sum of "four m undrcd fifty-fix thoufand three hundred and fix Pounds four Shillings and eleven Pence, and the faid Sums twenty-two; one other full and equal fourth Part thereof on or before the Feaft of the Nativity o "hhn Baptijl which fhall be in the Year of our Lord one thoufand (even hundred and twenty-two ; on Pay- full and equal fourth Part thereof on or before the Feaft of Saint Michael th which in the Year of our Lord one thoufand feven hundred and twenty-two ; and the remaining full ai : fourth Part of the faid refpettive Sums fo payable on or before the Feaft of the Birth of our Lord Cl which fhall be in the faid Year of our Lord one thoufand feven hundred and twenty-two ; in full Payment and Satisfaction as well of the faid Sum of four millions one hundred fifty-fix thoufand three hundred and fix Pounds four Shillings and eleven Pence, as of the faid feveral Sums to be paid after the faid Rates of four Years and an Half's Purch ife and one Year's Purchafe reflectively ; and that the faid South-Sea Com- And their Stock panv, and their Stock and Funds (except fuch Parts thereof as fhall be affigned to the faid Governor and andFundsans n 1 /- m » r . 1 ■ a o made liable tg le Payment, by ment whatfoever ; any Thing in the faid former Act contained to the contrary notwithstanding. XXXV. And be it further enacted by the Authority aforefaid, That in cafe Default {hall be made by o' n Default of the faid South-Sea Company in the Payment of all or any Part or Parcel, Parts or Parcels of the faid feveral Payment the Sums of four millions one hundred fifty-fix thoufand three hundred and fix Pounds four Shillings and eleven Exchequer may Pence, and of the faid Sums to be paid after the Rate of four Years and an Half's Purchafe and one p° a p Jneite'&c Year's Purchafe, or any of them, at the refpective Days or Times by this Act limited for the Payment ay thereof; then the Commiffioners of theTreafury, or any three or more of them, or the High Treafurer for with Intereft for the fame, after the Rate of five Pounds per Centum per Annum (fuch intereft to be com* puted upon the Monies whereof fuch Failure in Payment fhall be made, from the refpective Days and Times ion which the fame ought to have been fo paid, until Satisfaction of the Principal) to be ftopt out of the ! Monies which, weekly or otherwife, fhall be payable to the faid Corporation of the South-Sea Company at ' the Exchequer for or upon their Annuities or yearly Funds (except fuch Parts thereof as fhall be affigned or ! transferred to the faid other Corporations, or either of them, as aforefaid) and to caufe the Principal and 1 Intereft fo ftopt to be applied as is herein after directed in that Behalf. XXXVI. And be it further enacted by the Authority aforefaid, That all the Monies to be paid into the HowthelWonie of four millions one hundred fifty-fix thoufand three hundred and fix Pounds four Shillings and eleven the Exchequer Pence, and the faid feveral Sums to be computed after the faid refpective Rates of four Years and an Half's be *?? hQi ' Purchafe and one Year's Purchafe, or for Intereft of the fame, or any Part thereof, and every of them, and every Part thereof, as raft as the fame fhall be paid into the fame Receipt, purfuant to this Act, fhall be applied in Manner following, (that is to (ay) That out of the firft Monies arifing of or for the faid feve- ral Sums fo to be paid or ftopt, every or any of them, fuch publick Debts and Incumbrances, carrying In- tereft or Annuities after the Rate of five Pounds per Centum per Annum, or more, incurred before the twen- ty-fifth Day of December one thoufand feven hundred and fixteen, founded upon any former Act or Acts of Parliament in that Behalf (not being Part of the Capital Stock or Fund of the faid South-Sea Company, or by them to be affigned or transferred, as aforefaid) as were redeemable on the faid twenty-fifth of December one thoufand feven hundred and fixteen, or might be redeemed at any Time or Times, on or before the twenty-fifth of December one thoufand feven hundred twenty-two, fhall be redeemed and paid off in the firft Place: And that after the fame ihall be redeemed and paid off, or Money fufficient fhall be referved in the Exchequer for redeeming and paying off the fame, according to the true Meaning of this Act, then all the Reft, Refidue and Remainder of the faid Sum of four millions one hundred fifty fix thoufand three hun- dred and fix Pounds four Shillings and eleven Pence, and of the faid Sums to be computed after the faid fe- veral Rates of four Years and an Half's Purchafe and one Year's Purchafe, and of the Monies payable for Intereft, as aforefaid, and of every of them, and of every Part thereof, as the fame Refidues and Remain* ders, from Time to Time, {hall grow due from the faid South-Sea Company, and as the fame fnall or ought to be paid into the faid Receipt of Exchequer, fhall from Time to Time be applied (fo far as the fame from Time to Time will extend) towards paying off" and discharging fo much and fuch Parts of the Capital .Stock which fhall then belong to the faid South-Sea Company, and to the faid Governor and Company of •• the Bank of England, and to the faid Eajl-India Company, and every or any of them refpectively, as by the Tenor and true Meaning of this and the faid former Act were to carry Annuities payable at the Exchequer after the Rate of five Pounds per Centum per Annum, till the twenty-fourth Day of June one thoufand f.ven hundred and tvventy-feven, and afterwards at the Rate of four Pounds per Centum per Annum, till R demp- tion by Parliament, and towards paying oft" and redeeming fo much of the fame Annuities which fnall ih a be
 * f
 * the Time being, or the Officers of the Exchequer for the Time being, fhall, and they respectively areherc-
 * by authorized," enjoined and required to caufe the Money whereof fuch Default in Payment fhail be made,
 * Exchequer, as aforefaid, by the faid South-Sea Company, or to be ftopt, as aforefaid, of or for the faid Sum to be paid into