Page:Ruffhead - The Statutes at Large - vol 5.djvu/710

 672 C. 3. Anno fecundo Georgii II. A.D. 1729. the Nativity of Saint John the Baptift which fhall be in the Year of our Lord one thoufand feven hundred and twenty-nine, viz. on the refpective Feaft-Days of Saint Michael the Archangel, of the Nativity of our Lord Chrift, of the Annunciation of the Bleffed Virgin Alary, and of the Nativity of Saint John the Bap- tift, in each Year, or within fix Days after fuch Feaft-Days reflectively, to caufe the Overplus or Surplus Monies of the (aid additional Duties, Rates or Impofitions, to be computed accordingly, and to caufe fuch Surplus or Overplus Monies as (hall appear upon fuch refpective Computations, from time to time, or fo much thereof as fhall be fufflcient, to be fet apart, referved and. applied for and towards the making good the faid yearly Fund or Sum of fifty thoufand Pounds, or the quarterly Proportions thereof, without di- verting or mifapplying any of the Monies, which, by the faid Act of the fixth Year of his faid late Maje- fty's Reign, ought to be referved or applied for or towards fatisfying the faid Annuity or additional Allowance to the faid South-Sea Company. Times of Pay- HI. And be it enacted by the Authority aforefaid, That the Governor and Company of the Bank of mentbv the England fhall, and they are hereby required and enjoined to advance and pay into the Receipt of his Ma- Eankof the jefty's Exchequer, the full and intire Sum of one million two hundred and fifty thoufand Pounds of lawful ,250,0 o. Money of Great Britain, in Manner following ; that is to fay, One Moiety thereof on or before the fecond Day of April which fhall be in the Year of our Lord one thoufand feven hundred and twenty-nine, and the other Moiety on or before the fixth Day of Oclober. which fhall be in the faid Year of our Lord one thou- fand feven hundred and twenty-nine ; and that in cafe the faid Governor and Company of the Bank of Eng- Name, for the Ufes and Purpofes of this Aft, by Action of Debt or upon the Cafe, Bill, Suit or Informa- tion, in any of his Majefty's Courts of Record at Wejlminfter, wherein no Eflbin, Protection, Wager of Law, or more than one Imparlance fhall be granted or allowed ; in which Action, Bill, Suit or Informa- tion, it fhall be lawful to declare, that the faid Governor and Company of the Bank of England are in- debted to his Majefty the Monies whereof they fhall have made Default in Payment, according to the Form cf this Statute, and have not paid the fame, which fhall be fufneient; and in or upon fuch Action, Suit, Bill or Information, there fhall be further recovered to his Majefty's Ufe, againft the faid Governor and Company of the Bank of England, Damages after the Rate of eight Pounds per Centum per Annum for the Monies fo unpaid contrary to this Act, befides full Cofts of Suit, and the faid Governor and Company of the Bank of England, and their Capital Stocks and Funds, fhall be and are hereby made fubject and lia- ble thereto. if theMoney be IV. Provided always, That in cafe the CommifTioners of his Majefty's Treafury now or for the- time be- paid in Advance ing, or any three or more of them, or the Lord High Treafurer for the time being, fhall judge it conve- before the Time n j en t f or his Majefty's Service, that any Part or Parts of the faid Sum of one million two hundred and fifty appomte, ank thoufand Pounds fo as aforefaid appointed to be paid by the faid Governor and Company of the Bank of count of 4 1, per England, fhould be paid in Advance by them on any Day or Days before or fooner than any of the refpec- Cent. tive Days before appointed for Payment of the fame in Moieties, and the fame Governor and Company fhall voluntarily confent to pay the fame in Advance accordingly; that then and in every fuch cafe the faid Commiffioners of the Treafury or Lord High Treafurer may, and have hereby Power to allow to the fame Governor and Company, out of every fuch Payment in Advance, a Rebate or Difcount, after a Rate not exceeding four Pounds per Centum per Annum, upon the Monies fo paid in Advance, from the refpective Day or Days of fuch Payment, to the Day on which the fame is herein before appointed to be paid as aforefaid. OnPavmentof V. And be it enacted by the Authority aforefaid, That on Payment by the faid Governor and Company the Mcney, of the Bank of England, of the faid Sum of one million two hundred and fifty thoufand Pounds, at the Bank intivkd Times and in Manner aforefaid, the faid Governor and Company, and their Succeffors and Afligns, fhall to the Annuity, be intitled to have, receive and enjoy, at the Receipt of his Majefty's Exchequer aforefaid, by and out of the faid yearly Fund by this Act eftablifhed as aforefaid, one Annuity or yearly Sum of fifty thoufand Pounds of lawful Money of Great Britain, to commence from the twenty-fourth Day of June which fhall be in the Year of our Lord one thoufand feven hundred and twenty-nine"; and to be paid and payable to them, their Succeffors and Affigns, by quarterly Payments, at the Feafts of Saint Michael the Archangel, of the Birth of our Lord Chnft, of the Annunciation of the bleffed Virgin Mary, and of the Nativity of Saint John the Baptijl in every Year, by even arid equal Portions for ever, until Redemption thereof by Parliament, according to the P'rovifo or Provifoes herein after for that Purpofe contained, and that the faid Annuity or yearly Sum of fifty thoufand Pounds, and every Part thereof, fhall be free from all Manner of Taxes, Impofitions or Charges whatfoever. r VI. And for the better and more regular Payment of the faid Annuity of fifty thoufand Pounds to the Ordersfor Pa?. ^ a '^ Governor and Company of the Bank of England, their Succeffors and Affigns for ever, fubject to Re- ment of the An- demption as aforefaid, an Order or Orders fhall be iigned by the Commiffioners of the Treafury now or for nuity. the Time being, or any three or more of them, or the Lord High Treafurer for the Time being, for the Payment thereof ; and after the figning thereof, the fame fhall be good, valid and effectual in the Law, ac- cording to the Purport and true Meaning thereof, and of this Act, and fhall not be determinable by or up- on the Deaths or Removal of any of the faid Commiffioners of the Treafury, or the Lord High Treafurer,- or by or upon the Determination of the Power, Office or Offices of them or any of them, nor fhall any Commiffioners of the Treafury, or Lord High Treafurer now or-for the Time being, have Power to re- voke, countermand, or make void fuch Order or Orders fo figned as aforefaid. Annuity a Per- VII. And it is hereby enacted, That the faid Annuity of fifty thoufand Pounds, and every Part thereof, frnalEiiate, tec. j^g]] h e adjudged to be a Perfonal and not a Real Eftate, and fhall not be ljable to any foreign Attachment; any Law or Cuftom to the contrary notwithftanding. VIII. And