Page:Ruffhead - The Statutes at Large - vol 6.djvu/512

 446 C. £3. Anno decimo quinto Georgh II. A. D. q$as2, moft Excellent Majefty, by and .with the Advice and Confent of the Lords Spiritual and Temporal, am Bank to advance Commons, in this p relent Parliament alfe;.obled, and by the Authoiity of the fame, That -the faid Gqvernoi i,6o->,ooo!. and Company of the Bank. of England, and their Succeffons, {hall advance and pay into the faid Receipt o for theprefent his Majefty's Exchequer for his Majefty's Ufe, the full Sum of one million fix hundred thoufand Pound:; on or before the twenty-fifth Day of December one thoufand feven hundred and forty-two, a fuch Times Each Payment and in fitch Proportions, as the Commiffioncrs of his Majefty's Treafury, or any three or more of them 01 not to be lefs the High Treafurer for the Time being, fhall think fit to dire£t and appoint, io as the faid Governor anc aUMonti?s ' Company be riot obliged to pay more than four hundred thoufand Pounds at anyone Time, nor without. ha- Notice. ving one Month's Notice before each.refoe&ive Time of Payment. II. Provided always, and it is hereby enacted and declared by the Authority aforefaid, That out of the faid Sum of one million fix hundred thoufand Pounds, the faid Governor and Company {hall have and re- Three per Cent, ceive back by way of Difcount, fo much as the Intereft at the Rate of three Pounds per Centum per Annum to be difcounted, f or each Sum of Money which {hall beaclually advanced and paid, for or upon Account of the faid Sum oi one million fix hundred thoufand Pound/S ifhall amount unto, from the Day of the actual Payment thereof, until the firft Day of Augitft one thoufand feven hundred and forty-three; and in cafe the laid Governor and Company of the Bank of England {hall make -Failure in any of the faid Payments fo by this Act ap- pointed to be made; in to his Majefty's Exchequer, as aforefaid, at or before the refpective Days or Times before limited in that Behalf, the Money whereof fuch Failure in Payment fhall be made, fhall and may be .recovered to his Majefty's Ufe, by Action of Debt, or upon the Cafe, Bill, Suit, or Information, in any of his Majefty's Courts of Record at Wejimhtfier, wherein no Eflbin, Protection, Privilege, or Wager of Law. fhall be allowed, or any more than one Imparlance; in which Action, Bill, Suit, or Information, it fhall be lawful to declare, that the faid Governor and Company of the Bank of England arc indebted to his Ma, jefty the Monies of .which they fhall have made Default jn Payment, accordii g to the Form of this Statute, TheB^nk on an< ^ ^ ave not P 2 ' 1 ^ the ^ ame ' which fhall he fufficient; and in or upon fuch Action, Bill, Suit, or Information Failureot Pay- there fhall be further recovered to his Majefty's Ufe agaitift the faid Governor and Company of the faid ment, to forfeit Bank of England, Damages, after the Rate of twelve Pounds per Centum for the Monies fo unpaid con- 12 1. per Cent, trary to this Act, befides full Cofts of Suit, and the faid Governor and Company of the Bank of fyt- with Cods, and j an J arK i their Succeffors, and their faid Stock and Funds, {hall be, and are hereby made fubiect and liable their Stock, ■" J liable. thereunto. III. And for the Encouragement of the faid Governor and Company of the Bank of England to advance and pay the faid Sum of one million fix hundred thoufand Pounds, with fuch Difcount out of the fame as aforefaid; and to the end the faid Governor and Company, and their Succeffors, may have a competent Re- Provifoesof Re- compence and Coniideration for fo doing; it is hereby declared and enacted by the Authority aforefaid, That demption in the the laid feveral and refpeftive Provifoes contained in the faid recited Acts of the feventh and twelfth Years of A£rs7andiz the Reign of her late Majefty Queen Anne, and each of them, and all other Provifoes contained in any nna;, repeat . Qtner £q. or Acts of Parliament for determining the faid Fund of one hundred thoufand Pounds per Annum, Privileges of a nd the faid Corporation of the Governor and Company of the Bank of England, upon the refpective No- perpetual Sue- tices and Payments in the fame refpective Aits mentioned, fhall be and are hereby repealed and made void; dull e'ba k' "" an( ^ t ' lat the ^'^ Governor and Company of the Bank of England io enlarged as aforefaid, and their Sue- confirmed ° ceffors for ever fhall remain, continue, and be one B.ody Corporate and Politick, by the Name, aforefaid, and fhall forever have, receive, and enjoy the faid entire. yearly Fund of one hundred thoufand Pounds, out of the faid Rates and Duties of Exeife, together with a perpetual Succeffion, and Privilege of exclufive banking, as herein after is. mentioned; and all other Abilities, Capacities, Powers, Authorities, Franchifes, Exemptions, Privileges, Profits, and Advantages whatfoever, whereunto' the Governor and Company of the Bank of England are, or before the making this Act were, intitled by the faid Acts of the feventh and twelfth Years of the Reign of her faid late Majefty Queen Anne, or either of them, or by any other Ait or Acts of Parliament, Grants, or Charters whatfoever now in Force, all which are by this Aft ratified and confirmed to the faid Governor and Company, and their Succeffors, freed and discharged of and from the faid Provifoes and Conditions of Redemption hereby repealed, or intended to be repealed as aforefaid, and all other Provifoes, Powers, Acts, Matters, and Things whatfoever, heretofore had, made, done, or committed, for redeeming, determining, or making void the faid Corporation, or yearly Fund of one hundred thoufand Pounds, and the faid Privilege of exclufive banking, and all other their Abilities, CapaH cities, Powers, Authorities, Franchifes, Exemptions, Privileges, Profits and Advantages, or any of them; fubject neverthelefs to fuch Reftricticns, Rules and Directions, and alio to fuch other Agreements, Mat- ters and Things, as in the faid Acts and Charters, or any of them now in Force are contained or pre- , {bribed, and alfo fubject to the Power and Condition of Redemption, hereafter in this A.ct contained in this S-ejhaif. till Auguft 1, IV. Provided always, and it is hereby further enacted by the Authority aforefaid, That at any Time upon 1 ' 6, r' twelve Months Notice after the firii Day of Auguft, which -fhall be in the Year of our Lord one thoufand feven hundred and fixty-four, and not before, and upon Repayment by Parliament to the faid Governor and Company of the Bank of England, ox their Succeliors, as well of the faid Sum of one million fix hun- dred thoufand Pounds formeily advanced, as of the Sum of one million fix hundred thoufand Pounds before mentioned, now to be advanced, amounting in the Whole to the Sum of three million two hundred thoufand Pounds, without any Deduction, Difcount, or Abatement whatfoever to be made out of the faid Sum of three million two hundred thoufand Pounds, or- any Part thereof; and upon Payment to the faid Governor and Company, and their Succeffors, of all the Arrears of the faid one hun- dred thoufand Pounds per Annum, and all the Principal and Intereft Money which fhall be owing unto them upon all fuch Tallies, Exchequer Orders, Exchequer Bills, or Parliamentary Funds, which the faid Gover- nor and Company, or their Succeffors,. fhall have remaining in their Hands, or be intitled to at the Time . of fuch Notice to be given, as aforefaid; fuch Funds for Redemption whereof other Provifion is made in 8 Geo. 1. c si. and by one Act of Parliament made and palled in the eighth Year of the Reign of his late Majefty King George