Page:Ruffhead - The Statutes at Large - vol 5.djvu/438

 392 C. 20. Anno odavo Ge org ii Regis. A.D. 1721, Farther Time ' VI. And as to the Principal Sum of one million, which was borrowed by the faid South-Sea Compa- aliowed for Re- t n y as aforefaid, and for Prepayment whereof they were allowed Time, fo as the fame fhould be difchars-- ^iita'to™ ' t ^' on or before the feventh Day of June one thoufand feven hundred and twenty-two as aforefaid;' It is hereby provided, declared and enacted by the Authority aforefaid, That in cafe that Sum be not repaid into the Exchequer, on or before the feventh Day of June one thoufand feven hundred and twenty-two the faid Company {hall be allowed further Time for repaying into the Exchequer the Sum of one million' paying Intereft. on or before the feventh Day of June which {hall be in the Year of our Lord one thoufand feven hundred at 5! - pe!!P in!' - an d twenty-three; they paying an Intereft for the fame, after the Rate of five Pounds per Centum per An- after25 arc nttm ^ by equal quarterly Payments, from the faid Feaft of the Annunciation of the BleiTed Virgin Mary one thoufand feven hundred and twenty-two, until their paying off the Principal. The million not VII. And it is hereby provided, enacted and declared by the Authority aforefaid, That in cafe the faid repaid on 7 June Sum amounting to one million, (hall not be actually repaid as aforefaid, into the Exchequer, on or be- 1722. (hall be f ore t ^e r^j feye,-,^ j) a y of June one thoufand feven hundred and twenty-two, according to the faid foj-- before the faid feventh Day of Jane one thoufand feven hundred and twenty-three, fhall well and truly repay or caufe to be repaid, into the Exchequer the faid Sum of one million, for the Purpofes in this Act expreffed concerning the faid Principal Sum of one million. Intereft, &c to VIII. And be it further enacted by the Authority aforefaid, That the faid South-Sea Company or be paid quarterly their Succeffors, fhall well and truly pay, or caufe to be paid into the Receipt of Exchequer, fo much as 'fF^f p .yT nt the Intereft of the faid million lent to them fhall amount unto, from the faid Feaft of the Annunciation imcipa . f the BleiTed Virgin M«ry one thoufand feven hundred and twenty-two, after the Rate of five Pounds per Cmtum per Annum, until the actual Repayment of the Principal; the faid Intereft after the Rate of five Pounds per Centum per Annum, to be paid quarterly at the four moft ufual Feafts in the Year, by equal Portions, for fuch Ufes and Purpofes as are herein after appointed touching. or concerning the fame In - In Default of tereft; and in Default of fuch .Repayment of the Principal Sum of one million, of in the Payment of fuch Prinri^and Intereft for the fame as aforefaid, according to this Act, then the Annuity or Annuities belonging to the Intaeft, Annul- South-Sea Company, and payable at the Receipt of the Exchequer, fhall and may be flopped by theCom- tres payable at miffioners of the Treafury, or any three or more of them, or by the High Treafurer for the Time bein? Exchequer, to be or by the Officers of the Exchequer for the Time being, and the Money fo flopped fhall and may be ap- &a ^' plied in fuch Manner, as hereafter in and by this Act is directed in that Behalf. In r,ne .Year after IX. And to the end' a certain Sum of Money, not exceeding one million of Pounds Sterling, may ef- 25 March 1722. fectually be rasfed towards anfwering the Supply granted to his Majefty in this Seffion of Parliament- Be new Exchequer it further enacted by the Authority aforefaid, That it fhall and may be lawful to and for the" Commif- sc^^bemade uoners °f l ^ e Treafury or any three or more of them, or the High Treafurer for the Time being, and m t t v they refpectively are hereby authorized and impowered, at any Time or Times within one Year, to be rec- koned from the faid Feaft of the Annunciation of the BleiTed Virgin Mary one thoufand feven hundred and twenty-two, by fuch Proportions at a Time, as they refpeciively fhall find to be moft for the Advantage ,of the Publick, to prepare and make, or caufe to be prepared and made, at the faid Receipt of the Exche- quer, in fuch Method and Form as they fhall think moft convenient, any Number of new Exchequer Bills, fo as all the Principal Sums to be contained in the Bills fo to be made by Virtue of this Act, do not in the whole exceed one million of Pounds (over and above the Exchequer-Bills made forth by former Jntereft at 2d. Acts, which fhall remain undifcharged;) and that the faid new Bills fo to be prepared and made in Pur- per Centum per f uance f this Act, fhall bear an Intereft not exceeding the Rate of two Pence per Gentian per Diem, and proportionally for any greater or leffer Sum to be contained therein and to be payable to the Bearers Upon what Bills thereof refpectively; neverthelefs the faid Intereft fhall be abated and faved upon fuch of the faid Bills to Intereft mall be De mac Je forth by this Act, as fhall at any Time or Times be in the Receipt of the Exchequer, or in the Hands or Power of any Receivers or Collectors of any Taxes, Aids or Revenues whatfoever payable to his Majefty, his Heirs or Succeffors^ during fuch Time and Times refpectively, as fuch Bills fhall be or remain in the faid Receipt, or in fuch Hands or Power as aforefaid; and the faid Commiffioners of the Treafury to caufe Treafury, or any three or more of them, and the faid High Treafurer for the Time being, are hereby re- te'pUcedVsCafh 1 P £< ^i ve ly authorized and impowered to caufe fuch new Bills as fhall be prepared by Virtue of this Act, in ihj Office of to be placed as fo much Cafh in the refpective Offices of the Tellers at the faid Receipt of Exchequer, the Teller, &c. each and every of which Tellers fhall be feve.rally charged with the Proportions of the faid Bills which fhall be fo placed in his Office refpectively. Sinking Fund :o x. And to the end the faid Bills, which fhall be made forth by Virtue of this Act, and the Bills made f C a fh^ "' 'm fGr f° rtn by the faid former Acts, which fnall from Time to Time remain undifcharged, may the better ob- nlesforexchang- tam a Currency for fuch refpective Time and Times, as they are intended to be current according to this jng and cirruia Act; Be it further enacted by the Authority aforefaid, That the Monies, which fhall from Time to ua$ Bills, &c. Time arife of or for the faid Surpluffes, Exceffes and Overpluffes, commonly called the finking Fund, fhall be and are hereby declared and enacted to be a Fund or Security (over and above the Intereft Mo- nies, afcer the Rate of five Pounds per Centum per Annum, to be anfwered by the South-Sea Company, as is herein after mentioned) for furnifhing fuch Monies as fhall be neceffary to be furnifhed at fuch certain Rates, as are herein after expreffed or otherwife, for or towards exchanging and circulating the fame or .any of them, according to the Purport and true Meaning of this Act 3 any former Law or Statute to the contrary notwithstanding. 2 XL And
 * —", 0l1 7 J une mer Act, then the faid South-Sea Company, and their Succeffors, at their own Coils and Charges, on or