Page:Ruffhead - The Statutes at Large - vol 5.djvu/473

 A. D. 1722.' Anno nono Georgii Regis. C. 6. 427 yearly, videlicet, on the Feafl of the Annunciation df the Bleffed Virgin Mary, and the Fcaft of Saint Michael the Archangel in every Year, by even and equal Portions, and at the refpective Rates before- mentioned, until the Redemption thereof by Parliament, according to the Provifocs and Powerv of Re- demption hereafter in this Act contained in that Behalf. VI. Provided always, and it is hereby enacted by the Authority aforefaid, That if at any Time or Deficiencies how Times hereafter, any Deficiency or Deficiencies (hall happen in the Produce of all or any of the feveral maiit E' OJ ' Duties, Revenues and Incomes, charged with the Joint Stock of the faid South-Sea Annuities as aforefaid, and Attendant on the faid remaining Stock, and the faid Allowances for Charges of Management, to be continued to the faid South-Sea Company in their own Right as aforefaid, then and in every fuch Cafe fo happening, the faid Joint Stock of South-Sea Annuities, in refpect of their faid yearly Fund, (hall from Time to Time bear one Moiety or Half-part of every fuch Deficiency, until the fame (hall be provided for and made good by Authority of Parliament, and no more ; any Thing in this Act or any former Law, Statute or Provifton whatfoever to the contrary notwithftanding. VII. Provided alfo, and it is hereby enacted by the Authority aforefaid, That the proportional Share Shares after 24 and Shares, which all and every Perfon and Perfons, Body and Bodies Politick and Corporate, upon fuch June 1713. to, Divifion and Separation as aforefaid, fhall have and be entitled unto of or in the faid Joint Stock of South- be written off ^ Sea Annuities, fhall after the faid twenty-fourth Day of June one thoufand feven hundred and twenty- B^f^dTn-' 5 three, be written off from the prefent Books of the faid Company, into a new Ledger or Ledgers, with tred, n ' t0 new the proportional Annuity and Annuities, which in purfuance of this Act, are to attend the fame Share Lexers, &c. and Shares reflectively, with proper Debits and Credits, fo that the fame Annuities intended to be founded on this Act may be known and ascertained, and the future Transfers, and other legal Difpofiti- ons thereof, or of any Part or Parcel, Parts or Parcels of the fame, may from Time to Time plainly ap- pear and be infpected. VIII. And it is hereby enacted, That as well the faid South-Sea Annuities, intended to be founded on Annuities, &c'. this A£t, and all and every the Principal Sums for which the faid feveral South-Sea Annuities are to be Tax-iree. payable, and whereupon they fhall be computed purfuant to this Act, and every of them, fhall be free from all Taxes, Charges and Impofitions whatfoever, IX. And be it further enacted by the Authority aforefaid, That all and every the Perfons and Corpora- To be Pevfonal tions whatfoever, who fhall be entitled to any of the faid South-Sea Annuities, to be founded on this Act ^f^"",™^" * as aforefaid, and all Perfons and Corporations lawfully claiming under them refpectively, fhall be polfeff- Attachments" ed thereof as a perfonal Eftate, and the fame fhall not be defcendable to the Heir, and ihall not be liable & c. to any foreign Attachment by the Cuftom of London or otherwife ; any Law, Statute or Cuftom to the contrary notwithftanding. X. And be it further enacted by the Authority aforefaid, That all the principal Monies in the faid Joint Principal Monies Stock of the South-Sea Annuities for which the faid feveral and refpective Annuities fhall purfuant to this in Annuities, &c. Act be payable as aforefaid, fhall be deemed, reputed and taken to be one Capital or Joint Stock, on to be deemed Ca- which the fame Annuities fhall be attending; and that all and every Perfon and Perfons, Body and Bo- p |tllor J olnt dies Politick and Corporate, in Proportion to fuch their refpective South-Sea Annuities, fhall have and be ' deemed, reputed and taken to have a Share in fuch Stock; and that the fame Capital or Joint Stock, or any Share or Shares therein, and the proportional Annuity and Annuities attending the fame, fhall be af- fignable and transferrable as this Act directs and not otherwife; and that the faid Company, commonly And afiignable. called the South-Sea Company, fhall caufe to be conftantly kept within fome convenient Place within the City of London, an Office and a Book or Books, in which all Affignments or Transfers of the faid Stock ^- n officet0 be of South-Sea Annuities as aforefaid, and of the proportional Annuities attending the fame or any Part or |F ep t ,a °"f ^f. Parcel, Parts or Parcels thereof, fhall be fairly entred and regiftred ; which Entry fhall be connived in figments, fcc proper Words for that Purpofe, and fhall be figned by the Parties making fuch Affignments or Transfers, or (if the Party be abfent) by his, her or their Attorney thereunto lawfully authorized by Writing under his, her or their Hands and Seals, to be attefted by two or more credible Witneffes ; and that the Perfon or Perfons to whom fuch Transfer fhall be made, do underwrite his, her or their Acceptance thereof ; and that no other Method of affigning or transferring the faid Stock and Annuities to attend the fame or any Part thereof, or any Intereft therein, fhall be good and available in Law: Provided always, That any Perfon or Perfons poifefTed of fuch South-Sea Annuity or Annuities as aforefaid, or any Intereft therein, may be- queath the fame by Will in Writing, attefted by two or more credible Witneffes, but that fuch Legatee fhall receive no Payment thereupon, till fo much of the faid Will as relates to fuch South-Sea Annuity or Annuities, be entrtd in the Office laft mentioned ; and in default of fuch Transfer or Bequeft, the Stock and Annuity or Annuities attending the fame, ihall go to the Executors or Adminiftrators. XI. And it is hereby enacted by the Authority aforefaid, That no Stamp-Duties whatfoever, fhall be No Stamp-Du- chargeable upon any the Transfers or Alignments of the faid Joint Stock of the faid South-Sea Annuity ties on Tranf- or Annuities, to attend the fame or any of them. - » &c# XII. And as for and concerning the other Moiety or Half-part of the faid whole Capital Stock of the South- Sea Com- faid Company, commonly called the South-Sea Company, fo remaining and continued to the faid South- pany, after 24 Sea Company as their Capital Stock, and all Sums fettled and allowed, or to be fettled and allowed for J une i7*s-t° Management as aforefaid, with all the other Benefits, Profits of Trade, Privileges and Advantages what- juVof A^nuttiM foever belonging to the faid Company before the making of this Act; Be it enacted by the Authority afore- &c, at the Ex"* faid, That the faid South-Sea Company fhall, from and after the faid twenty-fourth Day of June one thou- chequer till 24 fand feven hundred and twenty-three, continue to have, receive and enjoy, and be intitled to have, receive June 1727, £.•=. and enjoy, at the Exchequer, in their own Right, the Refidue of the faid Annuities or yearly Funds, computed in the whole to one million fix hundred fifty-one thoufand feven hundred and thirty Pounds I i i s ten