Page:Ruffhead - The Statutes at Large - vol 5.djvu/442

 396 C. 20. Anno o&avo Georgii Regis. A. D. 172 1. .Undertakers to demanded at the faid publick Office, during, the Time or refpective Times of fuch Contract or Contracts, na,PrinnpaUnd ^ paying in ready Money, at their own Cofts and Charges, upon every fuch Demand, or within twen- n'uemand.' "' ty-four Hours after, all the principal Monies contained in every fuch Bill fo demanded, and the Intereft which fhall then be due thereupon, and fo toties quotics as often as any fuch Bill fhall be demanded, the faid Undertakers, from time to time, upon exchanging every fuch Bill, taking in the Bill fo exchanged for their own Ufe, and being allowed a Rate not exceeding three Pounds per Centum per Annum, as well for paying the faid Intereft at their own Cofts, as alfo in Reward for their Service, upon all the Bills fo undertaken to be circulated, fo long as they fhall exceed one million in Principal, and a Rate not ex- ceeding twenty Shillings per Centum per Annum for the like, upon all the Bills fo undertaken to be circu- lated, from the Time they in the whole fhall be reduced to any Sum, not exceeding one million in Prin- cipal, which faid refpective Rates fhall be paid as is herein after mentioned ; and the faid Contract or Contracts fhall be made in Writing, and regiftred in the Office of the Auditor of the Receipt of his Ma- jefty's Exchequer, and fhall be made to endure for fuch Time and Times refpectively as fhall be agreed by the Contractors. XXVI. And it is hereby enacted, That fuch Contractors or any of them, fhall not for that Caufe only be c'ifabled from being a Member or Members of Parliament, or be adjudged liable to be a Bankrupt or Bankrupts within the Intent or Meaning of all or any of the Statutes made againft or concerning Bankrupts; any Law, Statute or Provifion to the contrary notwithstanding. ' and twenty Shillings per Centum per Annum to be paid to the faid Undertakers as aforefaid, may con- ' ftantly be raifed and paid ;' It is hereby enacted by the Authority aforefaid, That the abovefaid Intereft after the Rate of five Pounds per Centum per Annum, payable by the faid Soutb-Sea Company, for the faid million which was lent to them, fhall be, and the fame is hereby enacted to be a Fund or Security, fo long as fjch Intereft fhall be payable for or towards anfwering the faid Allowance, not exceeding the faid Rate of three Pounds per Centum per Annum to the faid Undertaker or Undertakers ; and that the Monies hereafter to come in upon the faid Sinking Fund, fhall be a Fund or Security for anfwering fo much as (together with the faid Intereft payable by the Soutb-Sea Company) fhall make up the faid Al- lowance after the faid Rate not exceeding three Pounds per Centum per Annum, fo long as the fame fhall be payable, and for anfwering the faid Allowance not exceeding the Rate of twenty Shillings per Centum per Annum, from the Time the fame is to commence during the Continuance thereof, according to tha Treafury to caufe true Intent and Meaning of this Act ; and that the Commiffioners of the Treafury, or any three or more " of them, or the High 1 reafurer for the Time being, fhall caufe the faid refpective Rates to the faid Un- dertakers to be paid and applied out of the fame Funds or Securities accordingly ; any former Law or Statute to the contrary notwithstanding. XX VIII. Provided always, and it is hereby enacted by the Authority aforefaid, That if at any Time or Times hereafter Provifion fhall be made by Authority of Parliament in the lawful Coins of this Realm, placed in the Exchequer, for paying off and difcharging the faid Exchequer-Bills, which are made forth by the faid Act of the fixth Year of his Majefty's Reign (in lieu of old Exchequer-Bills which were cancelled in Pursuance thereof) computed to amount to the faid Sum of nine hundred nineteen thou- fand nine hundred twelve Pounds and ten Shillings or thereabouts, then the faid Bills themfelves fo computed to amount to nine hundred nineteen thoufand nine hundred twelve Pounds and ten Shillings or thereabouts, which fhall be fo paid off, or for which fuch coined Money fhall be referved in the Exche- quer to difcharge the fame, fhall be difcharged and cancelled ; and if before the feventh Day of June v lnt Allowances for Payment and Services. Contracts to be regiftred. Contractors, for that Caufe, not difab'ed to be Members of Par- liament, nor liable to be Bankrupts. Intereft of 5 1. per Centum per Annum, payable by South- Sea Company, &c. and Sinking Fund, to be Se- curities for Al- lowances to Undertakers. Sinking Fund to be applied to cancelling Bills, lit. Payments, &c. If Provifion be made by Parlia • ment of Money for difcharging the Bills made forth by 6 Geo. then the Bills paid off fhall be cancelled. If Monies be not Tune 1721" then one ^oufand feven hundred and twenty-three, coined Money fhall not be raifed and brought into the the Monies'com- Receipt of the Exchequer for difcharging the Bills laft mentioned, then all the Monies which fhall then inginofthe remain or afterwards come into the Exchequer, of or for the faid Surpluffes, ExcefTes and Overpluses, commonly called the Sinking Fund, fhall be applied for or towards paying off, difcharging and cancelling the faid Exchequer-Bills, not exceeding nine hundred nineteen thoufand nine hundred twelve Pounds and ten Shillings or thereabouts, till they fhall all compleatly be paid off and cancelled, in fuch or the like Manner and Form as are by this Act prefcribed for cancelling and difcharging the faid Bills not exceed- ing one million, to be made forth by Virtue of this Act ; this prefent Act or any Thing therein con- tained to the contrary notwithftanding. XXIX. Provided always, and it is hereby enacted by the Authority aforefaid, That all the MonitJs arifen or to arife into the Exchequer by the faid Surpluffes, ExcefTes and Overpluffes, commonly called the Sinking Fund (except fo much as at Lady-day one thoufand feven hundred and twenty-two or after- wards, is to be applied to difcharge the faid Exchequer- Bills not exceeding one million, which were ori- («cept a" B hereiii S' na '.' v created to be lent to the faid Company as aforefaid, and except fo much of the faid Sinking Fund exce,ted) to be as vvill pay off and difcharge the faid Bills, not exceeding nine hundred nineteen thoufand nine hundred appropriated for twelve Pounds and ten Shillings or thereabouts, in fuch Cafe as aforefaid, and except fuch Monies as are difcharging Prin- by this or any other Act of this Seffion of Parliament, or by any other Act or Acts of any former Sef- cipai and intereft f lon f p ar li am ent, fpecially charged upon the faid Sinking Fund, or to be paid out of the fame, or out incumT^efore or " anv Monies compofing the faid Sinking Fund) fhall be appropriated, referved and employed, to and 15 Dec. 1716. f° r difcharging the Principal and Intereft of fuch national Debts and Incumbrances, as were incurred be- fore the twenty-fifth Day of December one thoufand feven hundred and fixteen, and are declared to be fuch national Debts as may be redeemed and are provided for by Act of Parliament, in fuch Manner and Form as fhall be directed and appointed by any future Act or Acts of Parliament, to be difcharged there- with or out of the fame, and to and for none other Ufej Intent or Purpofe whatsoever, 3 XXX. And Monies to arife
 * XXVII. And to the End the faid refpective Rates, not exceeding three Pounds per Centum per Annum,