Page:Ruffhead - The Statutes at Large - vol 5.djvu/688

 650 C. 8. Anno/primo Georgii II. Stat. 2. A<D. 1728. faid Annuity or yearly Sum of feventy thoufand Pounds by this Aft eflablifhed, every or any Part or Par eel, Parts or Parcels thereof, to any Perfon or Perfons, Body or Bodies Politick or Corporate, in fuch Man- ner and Form as the laid Governor and Company fhall think proper ; fubjeft nevertheless to fuch Redemption by Parliament as aforefaid, and" without Power to inlarge their Capital Stock by or out of the fame. Treafury to dif- XVI. And to the End, Intent and Purpofe, that all the prefent Charges and Incumbrances on the faid charge all in- I m p fitions herein before particularly ftated may be regularly difcharged, Be it enafted by the Authority XTlmpofitbns aforefaid, That the CommiiTioners of his Majefty's Treafury now being, or the Lord High Treafurer or byi5*Junei72«. CommLfiioners of the Treafury for the Time being, fhall on or before the twenty-fifth Day of June one nutoftheMonies thoufand feven hundred and twenty-eight, by and out of the Monies to be advanced by the faid Governor advanced by the an j Company of the Bank of England on the Credit of this Act, or by and out of any other Monies granted ? ank ' ■, B to his Majefty for the Service of the Year one thoufand feven hundred and twenty-eight, provide and direct, r°efai"ibfr zGco. that all the faid Debts and Incumbrances be duly and regularly difcharged, by paying to the refpeftive Pio- i. c. 3 . ' prietors thereof the feveral Sums of Money, which after the Application of the Produce of the faid Im- ij Geo. 7.. c.i-j. pofltions and Duties to that Time, according to the Directions of former Acts of Parliament, fhall appear 15 Geo. z. c. 13. t0 bg c j ue f or Principal, Intereft or Annuity, Premium or Rate, or other Purpofes aforementioned, and by I9 C£°' a 'f' 6 ' cancelling all the faid Exchequer-Bills ; and that from and after fuch Payment, or referving in the Exchequer ! brances, all and every the faid former Annuities or Funds, fo charged on the faid Duties and Impofkions for the Purpofes aforefaid, fhall ceafe and determine, and the fame Duties and Impositions fhall for ever after be difcharged therefrom ; any Thing in any former Act of Parliament to the contrary notwithstanding. ' XVII. And whereas the before mentioned Sum of one hundred and three thoufand one hundred and ' forty Pounds, remaining due and to be raifed for compleating the Sum of three hundred and fi.xty thou- ' fand Pounds by the faid Act of the fifth Year of the Reign of his faid late Majefty King George the ' Firft, is by the faid Aft appointed to be raifed only from Time to Time, as the Commiffioners for build- ' ing the faid Churches fhould certify the fame to be w.mting, and the whole thereof need not be iflued for ■The 703,14°'. * fomeTime:' Be it therefore enafted, That for the making the beftUfe thereof in the mean Time for the by 5 Geo. i.e. 9. g ene £ t f i ie Publick, the faid Sum of one hundred and three thoufand one hundred and forty Pounds, or ' 0° th^Money 1 ^° mucn as at Midjummer one thoufand feven hundred and twenty-eight fhall remain unraifed for the Pur- advanced by the pofes aforefaid, fhall then be taken out of the faid Purchafe Money to be advanced by the faid Governor Bank, and added and Company of the Bank of England, or out of the other Monies granted for the Supply of the Year one to the Aggregate thoufand feven hundred and twenty-eight, and fhall be added to the Produce of the Fund commonly called Fund. The Aggregate Fund, for the Quarter ending at Midjummer one thoufand feven hundred and twenty-eight, and fhall be iffued and applied as Part of the faid Produce, in the fame Manner as fuch Produce is or fhall be made applicable by Aft of Parliament, and that fuch Application thereof fliall be deemed and taken as a regular Difcharge thereof within the true Intent and Meaning of this Aft. Treafury to itTue XVIII. And be it enafted by the Authority aforefaid, That in lieu thereof the Commiffioners of the out of the grow- Treafury now or for the Time being, or the Lord High Treafurer for the Time being, fhall and they have ing Intereft of h ere by p OW er from Time to Time to ifTue out of the growing Produce of the faid Aggregate Fund, fuch i uclfaTrnaU be Sum and Sums of Money as fhall from Time to Time be wanting for the Services to which the faid Sura •wanting for that of one hundred and three thoufand one hundred and forty Pounds was applicable, in the fame Manner as Service. they were impowered to raife the fame by the faid Aft of the fifth Year of the Reign of his late Majefty King George the Firft, fo as the whole of the Monies fo to be iffued out of the faid Aggregate Fund, do not exceed the Sum which fhall have been placed to the faid Aggregate Fund purfuant to the Directions aforefaid. .9 Geo. 1. c. 6. "* XIX. And whereas by Virtue of an Aft of Parliament made in the ninth Year of the Reign of his faid '* late Majefty King George the Firft (for reviving and adding two millions to the Capital Stock of the ' millions eight hundred and two thoufand four hundred and eighty-three Pounds fourteen Shillings and one ' Half -penny, was divided into two equal Parts, and one Moiety thereof, therein ftated, to amount to fix- 1 t :en millions nine hundred and one thoufand two hundred and forty-one Pounds feventeen Shillings and £ one Farthing, was to be and remain the Capital Stock of the faid South-Sea Company ; and the other ' Moiety thereof, amounting to the like Sum of fixteen millions nine hundred and one thoufand two hun- ' dred and forty-one Pounds feventeen Shillings and one Farthing, was converted into a Joint Stock, at- ' tended with Annuities after the Rate of five, rounds per Centum per Annum, until the twenty-fourth Day ' of June one thoufand feven hundred and twenty- feven, and from thenceforth with Annuities at four Pounds ' -per Centum per Annum, redeemable by Parliament, and transferable at the South-Sea Company ; and by ' the fame Aft it was provided, That after the Feaft of the Nativity of Saint John Baptiji in the Year cf c our Lord one thoufand feven hundred and twenty-feven, the fame Stocks might be redeemed by any Pay- ' ments, not being lets than five hundred thoufand Pounds at a Time ; and that fuch Payments fhould from ' Time to Time be applied either towards difcharging the Principal Sums which fhould belong to the ' faid South Sea Company in their own Right, or towards difcharging the Principal Sums of the faid South-Sea ' Annuities, or towards difcharging as well the faid principal Sums of the faid Company, as of the faid South' ' Sea Annuities, in fuch Proportions, Manner and Form, as fhould be prefcribed by the refpeftive Aft or ' Acts of Parliament for furnifhing fuch Sums ;' Therefore and to the Intent that the faid Sum of four hundred thirty-four thoufand fix hundred and five Pounds, herein before directed to be paid to the faid South-Sea Company, may be made up to a Sum of five hundred thoufand Pounds, agreeable to the Intentions of the faid Aft of Parliament, and that the Application thereof may be regularly di- ■South-Pea Stock, hundred thirty-four thoufand fix hundred and five Pounds fliall be iffued and paid to the faid South-Sea Com- ,to be diicharg- pany, purfuant to the Directions herein before given for that Purpofe, there fhall alfo be iffued and paid to ed, &c them, by and out of the Monks which fliall then be in the Receipt of Exchequer of the faid Sinking Fund, the
 * ■"' Z ' c ' 4 ' ;Money fufficient for that Purpofe, to be payable on Demand to the Proprietors of the faid Debts and Incum-
 * South-Sea Company) the whole Capital Stock of the faid Company being then computed at thirty-three
 * oa,-oco1. of refted, Be it therefore further enafted by the Authority aforefaid, That at the fame Time as the faid four