Page:Ruffhead - The Statutes at Large - vol 5.djvu/475

 A. D. 1722. Anno nono Gr often r Regis. C. 6. 429 to the faid South-Sea Company in their own Right as aforefaid ; then, and in every fuch Cnfe fo happen- ing, the faid : South-Sea Company, upon Account and'in refpec' of the H mining Slock and the AlJoWi lances to be continued to them in their own Right as afbreTaid, (hall, from Time to Time, bear one Moiety or Half-part of every fitch Deficiency, until the fame {hall be provided, for an I ma.lc good by Authority of Parliament, and no more ; any Thing in this Act, or tiny former Lav,-, Statute or Provifion what- ever to the contrary notwithstanding have taken Place, for or by Reafon of their not having remaining in their own refpedtive Names or Right, fo much Capital Stock of the (aid Company, as they before the making of this Act were/ required, to have for the Qualification of fuch Governor, Sub-Governor, Deputy-Governor or Directors refpe-c- tivcly, fo as fuch Governor, Sub-Governor, Deputy-Governor or Director refpcdlively, frjtt.ll have and continue in his own Name and Plight, io much of the faid Joint Stock of South-Sea Annuities as, together with the South-Sea Stock remaining in his own Name and Right (hall make up the Sum in Stock, which before the making of this Adt was requifite for fuch refpective Qualification, according to the Charter of the faid Company or any By-Laws made in Purfuance thereof. XVI. Provided always, and it is hereby enacted by the Authority aforefaid, That at any Time after Upon Rppay- the faid Feaft of the Nativity of Saint John Baptijl which (hall be in the Year of our Lord, one thoufmd ™^- b J f P t "^ m feven hundred and twenty-feven, upon Repayment by Parliament to the faid Company, commonly called ' ita i Sumof the South-Sea Company, of the faid whole Principal or Capital Sum of thirty-three millions eight hundred 33,802,483.1. two thoufand four hundred eighty-three Pounds fourteen Shillings and one Half-penny, that is to fay, 14 s ' one Half- The Sum of fixtcen millions nine hundred and one thoufand two hundred forty-one Pounds feventeen r cnn >> a,ter 2 4 Shillings one Farthing, being one Moiety or Half-part of the faid whole Principal or Capital Sum, for ^h cJm^aAy the Ufe of fuch Perfon and Perfons, Body and Bodies Politick and Corporate, as (hall then be Proprie- &c _ Annum/s tors of the faid joint Stock of South-Sea Annuities to be founded on this Adt, according to the Shares out of the Ex- and Interefts which they refpedtively fhall then have therein; and the remaining ftxteen millions nine chequer to ceafe, hundred one thoufand two hundred forty-one- Pounds, feventeen Shillings and one Farthing, being the &c> other Money or Half-part thereof, for the Ufe and Account of the faid Capital Stock, remaining and to be continued to the Company in their own Right as aforefaid, and upon Payment of all Arrears which (hall then be due for or upon the faid Annuities or yearly Funds payable at the Exchequer attending the fame refpedtively as aforefaid,. a.nd upon Payment of all Arrears of the faid. yearly Sums, allowed or to be- allowed to the faid Company for their own Ufe, for Charges of Management as aforefaid; (all which Arrears, if any fuch be, (hall be 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) then the faid yearly Annuities or Funds payable at the Exchequer to the faid Company in Truft for the faid South- Sea Annuitants, and in their own Rights refpedtively. as aforefaid, as alio the faid yearly Sums to be al- Ipwed for Charges of Management as aforefaid, and every of them (hall from thenceforth- ceafe and de- termine., f XVII.. And in regard it is intended, that at any Time or Times after the faid Feaft of the Nativity How Anmiiticr, ' of Saint John Baptift in the Year of our Lord one thoufand feven hundred arid twenty-feven, the Prin-'&e. payable at 4 cipal or Sum Total of the faid Capital amounting to thirty- three millions eight hundred two thoufmd the Exchequer, 4 four hundred eighty-three Pounds fourteen Shillings and one Flalf-penny (hall be fatisfied to the faid ^' ™ P 1 ?*^ b *~* 4 Company called the South-Sea Company, by any Payments not being lefs than five hundred thoufand Mppieipald in 4 Pounds at a Time ; and that as the fame Principal Money fhall be fo paid off, fuch leffer Payments fhall, Pa.rt ot Brines, 4 from Time to Time, be applied, either towards difcharging the faid Principal Sums which fhall then pal, flialfceaifo 4 belong to the faid South-Sea Company in. their own Right, or towards difcharging the faid Principal 4 Sums of the faid South-Sea': Annuities, or towards difcharging, as well the faid Principal Sums of the faid 4 Company, as alfo of the faid South-Sea Annuities, in fuch Proportions, Manner and Form as fhall bs 4 prefcribed by the refpedtive Act or Acts of Parliament for furnishing fuch leffer Sums; and that, as the 4 fame Principal Monies fhall be paid off", the refpedtive Annuities or yearly Funds, payable to the (aid 4 South-Sea Company at the Exchequer, in their own Right or in Trull as aforelaid, fhall, from Time 4 to .Time, proportionally fink and be abated ;' Be it therefore further provided and enacted by the Au- thority aforefaid, That at any Time or Times after the faid Feaft of the Nativity of Saint John Baptiji one thoufand feven hundred and twenty-feven, on Repayment by Parliament to the faid South-Sta Company, of any Sum or Sums of Money, not being lefs than five hundred thoufand Pounds at a Time, in Part of the Principal Monies of the faid Capital Stock of thirty-three millions eight hundred two thoufand four hundred eighty-three Pounds fourteen Shillings and one Half-penny, to be applied according to fuch future Adt or Adts of Parliament as aforefaid, and upon Payment of all Arrears, which fhall then be due, for, or upon the fame yearly Annuities or Funds, payable at the Exchequer as aforefaid, or upon any Part thereof, or fo much of the faid Arrears as fhall bear a Proportion to the Principal Sums then remain- ing unfatisfied to the faid Annuitants and the faid Company in. their own Right lefpeclively, and upon Payment of all Arrears then due of the faid yearly Allowances for Management, for the fole Ufe and Ac- count of the faid Company (all which faid Arrears, if any fuch be, fhall be 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 Payment made in Part as aforefaid ) then from and after every fuch Payment lo made, fo