Page:Ruffhead - The Statutes at Large - vol 6.djvu/297

 A. D. 1736. Anno 110110 Georgii II. C. 34. 235 XIV. And to the End, Intent and Purpofe that all truft Eftates and Intercfts in (he faic! Capital Stock R' vidcr !^ <* of Annuities of the South-Sea Company may be preferved and improved for the Benefit of the Per- J™"*] fons concerned therein, with the leaft Expence and Inconvenience to them ; Be it enacted by the Au- as Dividend thority aforefaid, That in all and every Cafe and Cafes where, in purfuance of this Act, any Payments P r ° fit - or Dividends (hall be made of the Capital of any fuch Annuity Stock, as ihall be vefted in any Perfon or Perfons in Truft for other Perfons, who have or claim diftinct or different Intu'efts therein, or for any other Ends or Purpofes, for which the Capital Sum or Annuity ought to be preferved intire, fuch Payments or Dividends of the Capital Stock or Annuities lhall not be paid or applied as Dividends of Profit Annuity or Intereft, but (hall remain in the Hands of fuch Truftees refpectively, till otherwife difpofed of at Intereft ; and for that Purpofe it (hall and may be lawful to and for the Truftee or Truftees, who (hall receive the fame, at his or their Difcretion, to lay out or difpofe of the fame or any Part thereof, in the Purchafe of fo much other Capital Stock of the fame Kind, as at the current Market Price of fuch Annuity Stock the Monies received for fuch Dividends (hall, as near as conve- niently may be, extend to purchafe ; which new purchafed Stock of Annuities ihall be transferred to fuch Truftee or Truftees, and a Receipt or Receipts (hall be given and figned by the Perfon or Perfons transferring the fame, for the Monies paid for the fame ; and in cafe fuch Truftees refpeclrvelv, by Writing indorfed on or annexed to fuch Receipts, and figned and acknowledged before one of the Mailers of the High Court of Chancery, (hall declare that the Money in the faid Receipts were the Produce of the faid Dividends of the faid Capital Stock of Annuities, (which Signing or Acknowledg- ment fuch Mafters in Chancery are hereby required to accept or take, and each and every fuch Mafter before whom the fame (hall be done, (hall at the fame time certify the fame, by fubferibing his Name thereto, for doing whereof fuch Mafter (hall be paid for each Certificate one Shilling and no more) then and in every fuch Cafe, the Annuity Stock mentioned in fuch Receipts to be transferred, (hall re- fpectively go and be deemed fubjecl: and liable to the fame Trufts, for the Benefit of the fame Perfons, and for the fame Ufes, Ends, Intents and Purpofes, as the reft of the truft Annuity Stock remaining in fuch Truftees reflectively will or ought to be fubject and liable to ; and fuch Truftees refpectively (hall from thenceforth be indemnified from any Lofs, Charges or Damages, on account of their fo doing, at the Expences of the faid truft Eftates. XV. Provided always, That nothing in this Act contained (hall extend or be conftrued to extend to Truft Monies reftrain or prohibit any fuch Truftees from laying out or difpofing of any of the faid truft Monies in P 13 ? be ' 3ld out any other Purchafes or any other Securities, whether publick or private, if they fliall fo think fit, in purdUes!^ the fame Manner and with the fame Freedom and Security to themfelves as they might have done if this Act had not been made. ' XVI. And whereas it may fo happen, that the faid Sum of fix hundred thoufand Pounds, or fome ' chafe of the faid Annuities, on or before the Feaft Day of Saint Michael the Archangel one thoufand ' feven hundred and thirty-fix ; and it may likewife happen, that on the faid Feaft Day of the Birth of f our Lord Chrift one thoufand feven hundred and thirty-fix, there may not be fufficient Money in the ' Exchequer arifen from the faid Surpluffes, Exceffes or Overplus Monies of the Fund commonly called ' the Sinking Fund, to fatisfy and pay the faid intire Sum of one million, and the faid South-Sea Com- ' pany may deiire then to receive the whole Sum in one intire Payment, in order to make one Diftribu- ' tion of the Whole amongft all the Proprietors of their faid capital Stock of Annuities at one Time ; ' Be it further enacted by the Authority aforefaid, That it fliall and may be lawful to and for the faid CIaufe of Loan Commiffioners of his Majefty's Treafury, or any three or more of them now being, or the High 3 ' per Treafurer, or any three or mere of the Commiffioners of the Treafury for the time being, by Warrant under their Hands, either to iffue and apply fuch Sum or Sums of Money as fliall then remain in the Receipt of the Exchequer of the faid Surpluffes, Exceffes or Overplus Monies, commonly called the Sinking Fund, or to permit and fuffer any Perfon or Perfons, Body or Bodies Politick or Corporate, to advance and lend to his Majefty at the faid Receipt of the Exchequer, at any Time after the faid Feaft Day of Saint Michael the Archangel one thoufand feven hundred and thirty-fix, the faid Sum of fix hundred thoufand Pounds, or fo much as fliall be wanting of the faid Contributions to compleat the faid Sum of fix hundred thoufand Pounds as aforefaid ; and upon Application made by the faid South- Sea Company to the faid Commiffioners of the Treafury, or the Lord High Treafurer for the Time being, and giving them Notice of fuch their Defire to have and receive the faid Sum of one million in one intire Payment, ten Days at leaft before the faid Feaft Day of the Birth of our Lord Chrift one thou- fand feven hundred and thirty-fix, it fliall and may be lawful to and for the Commiifioners of the Trea- fury, or any three or more of them now being, or the High Treafurer, or any three or more of the Com- miffioners of the Treafury for the time being, by like Warrant under their Hands to permit and fuffer any Perfon or Perfons, Body or Bodies Politick or Corporate, to advance and lend to his Majefty at the faid Receipt of the Exchequer, fuch further Sum and Sums of Money, as together with the Monies then remaining in the faid Exchequer of the faid Surpluffes, Exceffes or Overplus Monies, fliall be wanting to compleat the faid Sum of one million; which faid feveral and refpeclive Sum and Sums of Money, fo to be advanced or lent in purfuance of this Act for the Purpofes aforefaid, fhall be, and are hereby charged and chargeable upon the growing Produce of the faid Surpluffes, Exceffes or Overplus Monies of the Fund commonly called the Sinking Fund, and fliall be repaid out of the fame, as they fliall quarterly afterwards arife, together with an Intereft for the Forbearance thereof in the mean Time, not ex- ceeding the Rate of three Pounds per Centum per Annum ; any thing herein before contained to the con- trary notwithstanding. H h 2 XVII. Pro-
 * Part thereof, may not be contributed and paid into the Receipt of his Majefty's Exchequer for the Pur-