Page:Ruffhead - The Statutes at Large - vol 5.djvu/451

 A.D. 1721. Anno octavo Ge org 1 1 Regis. C. 21. 405 Act, (hall be intitled unto, and the faid Part or Parts of the faid Annuities or yearly Funds of the faid South- Sea Company, which fhall be purchafed as aforefud, and are intended to attend the fame, and the parti- cular Share and Shares of any Member of fuch Body Politick, or Corporate of and in the fame, fhall be, and be deemed and adjudged in Law and Equity, to be a perfonal and not a real Eftatc, and (hall be free from all Taxes, Charges and Impofitions whatfoever; and in cafe any Body or Bodies Politick or Corpo- rate fhall be intitled to the Capital Stock, to be afecrtained purfuant to fuch Agreement or Agreements, and this Aft as aforefaid, then and in a'l and every fuch Cafe and Cafes, the rclpective Members of fuch Body or Bodies Politick or Corporate, who (hall have any Share or Shares therein, fhall or may affign Shares may be and transfer fuch his, her or their Share or Shares or any Part thereof, in the Book or Books of the fan.e transferred 01 Body or Bodies Politick or Corporate refpectively, in fuch or the like Method, Manner and Form, as devifed, 3ecJ are prefcribed in and by any Act or Acts of Parliament, Charter or Charters, now in Force for Align- ments or transfers of original Stock, to be made in the Book or Books of fuch Body or Bodies Politick or Corporate refpectively, or fhall or may difpofe or devife the fame or any Part thereof by Will, in fuch " Manner and Form as any Share in the original Stock of fuch Body or Bodies Politick or Corporate is de- vifeable; and that the Part or Parts of the faid Annuities of the (aid South-Sea Company, which fhall be purchafed as aforefaid, by any Perfon or Perfons (not being a Body Politick or Corporate) or any Part thereof, fhall or may be aflignable and affigned by any Writing or Writings under their Hands and Seals refpectively; and fuch Afiign men ts over may be made toties quoties, fo as fuch Affignments be notified in the Books of the Auditor of the Receipt of the Exchequer for the Time being, and (ball or may be difpofed ior devifed by Will, fo as every fuch Will, within three Months after the Deceafe of every Teftator, be entred in the fame Office. XII. And be it enacted by the Authority aforefaid, That no Perfon who fhall be employed in making Perfons employ- any Agreement for the Sale or Purchafe of any Part or Parts of the faid Annuities of the South-Sea Com- ed ivS making pany, or in the Management of the Capital Stock to be afcertained for the fame, or of the Annuity or Agreements for Annuities fo to be purchafed, or in raifing the Money to pay for the fame or otherwife, in the Execution aifabled to forve of this Act, fhall for that Caufe only, be difabled for ferving as a Member of Parliament, or be liable to in Parliament, any Penalty or Difability for not qualifying himfelf to execute his Truft purfuant to this Act, as if it &c. were an Office or Place of Profit ; and that no Member of any Body or Bodies Politick or Corporate Perfons having which fhall be intitled to Stock, purfuant to fuch Agreement or Agreements, and this Act as aforefaid, Stock, tec. not fhall in refpect of his Share or Shares therein, be liable to be a Bankrupt, within the Meaning of any the liable t0 Bank - Statutes made concerning Bankrupts; and the Stock of fuch Body or Bodies Politick or Corporate af- ™j™ 5 Att°ch-~ certained as aforefaid, fhall not be liable to any foreign Attachment, by the Cuftom of London or ment. otherwife. XIII. And it is hereby declared and enacted by the Authority aforefaid, That fuch Perfon and Perfons, Purchafers to re- Body or Bodies Politick or Corporate, as (hall purchafe any Part or Parts of the faid Annuities of the faid ffj'/S -^ nnul ^ e3 South-Sea Company as aforefaid, his, her and their Executors, Adminiftrators, Succeflbrs and Affigns re- b soudt'sei " fpectively, fhall have, hold, receive and enjoy the fame at the refpective Rates aforefaid, until the faid Company, Part or Parts fo purchafed fhall be redeemed purfuant to this Act ; and any Body or Bodies Politick or Corporate purchafing fuch Part or Parts of the (aid Annuities, or any Part thereof, fhall continue a Cor- poration until fuch Redemption of the Part or Parts of the fame Annuities which fhall have been pur- chafed by them. XIV. Provided always, That at any Time after the Feaft of the Nativity of Saint John Baptiji one After 24 June thoufand (even hundred and twenty-feven, upon Repayment by Parliament, to the Perfon or Perfons, '7 2 7- u p°n Re- Body or Bodies Politick or Corporate who fhall then be intitled to the faid Capital Stock, in refpect of f^"^/^"" the faid Part or Parts of the faid Annuities which fhall haVe been fo purchafed, of the whole Sum whereof pjta i stock, and their Capital Stock in refpect of the Annuities fo purchafed fhall then confift according to this Act, with- uponPaymentof out any Deduction, Defalcation or Abatement whatfoever to be made out of the fame or any Part thereof, Arrears, &c. and upon Payment of all Arrears which fhall be then due at the refpective Rates aforefaid or either of Annuites to them, upon the faid Annuities which fhall be fo purchafed, all which Arrears (if any fuch be) fhall be ceae * computed and paid to the quarterly Feaft-day then next preceding, and from thence fhall be computed and paid by the Day, till the Time of fuch full Payment made of the Capital Stock laft mentioned ; then the faid Part or Parts of the faid Annuities which fhall be purchafed as aforefaid, fhall from thenceforth ceafe and determine. ' XV. And in regard it is intended that at any Time or Times after the faid Feaft of the Nativity of After 24 Tunc 'Saint John Baptiji one thoufand feven hundred and twenty-feven, the Principal or Total Sum of the 1727, on Re- ' Capital Stock, which fhall then belong to any Perfon or Perfons, Body or Bodies Politick or Corpo- payment of Part ' rate, in refpect of any Annuity or Annuities to be purchafed as aforefaid, may be fatisfied by any Pay- ( P /l nc '^' f" 2 ' ' ments, not being lefs than one eighth Part thereof at a Time, and that as the fame Principal fhall be than one^i^hth) ' paid off, the faid Annuities which fhall have been purchafed as aforefaid, fhall from Time to Time pro- a proportional ' portionably fink and be abated :' Be it therefore further provided and enacted by the Authority aforefaid, Part of Annui- That at any Time or Times after the faid Feaft of the Nativity of Saint John Baptiji one thoufand fe- uestoceaie. ven hundred and twenty-feven, upon Repayment by Parliament to the Perfon or Perfons, Body or Bo- dies Politick or Corporate, who (hall then be intitled to the Capital Stock in refpect of the Annuity or Annuities which fhall have been purchafed as aforefaid, of any Sum or Sums of Money (not being lefs than one eighth Part thereof at a Time) in Part of the principal Monies whereof the fame Capital Stock fhall confift, and upon Payment of all Arrears then due at the refpective Rates aforefaid or either of them, for or upon the Annuities fo purchafed, or fo much of thofe Arrears as fhall bear a Proportion to the prin- cipal