Page:Ruffhead - The Statutes at Large - vol 6.djvu/603

 A. D. 1744.: Anno decimo feptimo Georgii II. C. 17. 537 twenty-jour, for the preventing or remedying any Injury or Damage which might happen to the faid United Company, in refpect of the Diminution that might happen in th~ Produce of the Duti a and Revenues charged with their then Annuity or Fund of one hundred and fixty thoufand Founds per Annum, by the ceafing and determining the therein before mentioned additional Duties on Salt, be- fore or until the faid intended Reduction of their faid then Annuity or yearly Fund fhould take i'lacc, and their reduced Annuity or yearly Fund fhould be charged upon new Duties and Revenues with their Confent, it was enacted, That in cafe at the End of any one Quarter of a Year, to be computed from the Feaft of the Annunciation of the blefTed Virgin Mary. in the Year one thoufand feven hundred and thirty, until fuch intended Reduction fhould take Place, and fuch new Security be provided for the faid reduced Annuity or yearly Fund, the Produce into the Exchequer of the Monies arifing from the faid additional Duties on Salt, and the additional Duties on ftampt Vellum, Parchment and Paper, particularly charged with the then Annuity or Fund of one hundred and fixty thoufand Pounds, pay- able to the faid United Company, fhould not be fufficient, together with the then Provifions by Parlia- ment for making good the Deficiencies thereon, to difcharge the Quarters Annuity that fhould be then due to them ; then and in every fuch Cafe, and as often as the fame fhould happen, fuch quarterly- Deficiencies fhould from time to time be made good out of any Monies, which at the refpective Times of fuch Deficiencies fhould be and remain in the Exchequer, of the Monies arifen or to arife for the faid Duties and Revenues, commonly called The Aggregate Fund, which fhould be more than fuffi- cient to anfwer, pay and fatisfy what would then be due or demandable for any prior Charges or In- cumbrances on the faid Aggregate Fund : And it was alfo enacted, That from and after the twenty- ninth Day of September which fhould be in the Year of our Lord one thoufand feven hundred and thirty, in cafe the faid intended Reduction of the faid Annuity or Fund of one hundred and fixty thoufand Pounds fhould then take Place, then and from thenceforth fuch reduced Annuity or yearly Fund of one hundred and twenty-eight thoufand Pounds, fhould be transferred from the feveral Duties and Re- venues then charged with the faid then Annuity or yearly Fund of one hundred and fixty thoufa:id Pounds, and be charged upon and payable out of the Monies arifen or to arife into the Exchequer from time to time, for the faid feveral Duties and Revenues compofing the Aggregate Fund, to be paid and payable to the faid United Company, or their SuccefTors, by fuch and the like quarterly Payments, as their then Annuity or yearly Fund was then payable ; fubject neverthelefs to fuch Redemption by Parliament, as was or fhould be enacted by any other Act of the then Seffion of Parliament, and fubject to fuch prior Charges and Incumbrances, as were or fhould be made by Parliament on the growing Produce of the faid Aggregate Fund, before the taking Place of fuch Reduction : And whereas the faid United Company of Merchants of England trading to the Eaft Indies are willing and contented to ad- vance and pay into the Receipt of your Majefty's Exchequer, towards the Supply granted to your Ma- jefty for the Service of the Year one thoufand feven hundred and forty-four, the Sum of one million of Pounds Sterling, for the Purchafe of an Annuity of thirty thoufand Pounds well fecured to the faid United Company, and repayable on the fame Terms with the Company's prefent Capital, with an Addition of fourteen Years to their prefent Term, which will, with fuch Addition, extend to Lady- day one thoufand feven hundred and eighty, befides the three Years allowed them after the Expiration of their prefent Term, for bringing Home and difpofing of their Effects, and other Purpofes ; with Power to the faid United Company to iftue out Bonds from time to time for any Part, or the whole Amount of the faid one million of Pounds Sterling, and upon fuch other Terms, Conditions, Grants, Confirmations, Articles and Provifions as are herein after made, granted, provided, declared and enacted ;' Be it therefore enacted by the Authority aforefaid, That the faid United Company of Mer- One million ta chants of England trading to the Eaft India, in purfuance of their before recited Agreement, fhall ad- be P* id 'n t0 the vance and pay into the faid Receipt of his Majefty's Exchequer, for his Majefty's Ufe, the full Sum of Exche l u «- one million on or before the twenty-ninth Day of September which fhall be in the Year of our Lord one thoufand feven hundred and forty-four, at fuch Times, and in fuch Proportions, as the Commiffioners of his Majefty's Treafury, or any three or more of them, or the High Treafurer for the Time being fhall think fit to direct and appoint, fo as the faid United Company be not obliged to pay more than two hundred and fifty thoufand Pounds at any one Time, nor without having one Month's Notice before each refpective Time of Payment, and fo as the faid Company be not obliged to make any fuch Payment before the twenty-fifth Day of May one thoufand feven hundred and forty-four. III. Provided always, and it is hereby enacted by the Authority aforefaid, That out of the faid Sum Three per Cent; of one million, the faid United Company fhall have and receive back by way of Difcount, fo much as Difcount. the Intereft at the Rate of three Pounds per Centum per Annum for each Sum of Money which fhall be actually advanced and paid, for or upon account of the faid Sum of one million, fhall amount unto, from the Day of the actual Payment thereof, until the faid twenty-ninth Day of September one thoufand feven hundred and forty-four ; and in cafe the faid United Company fhall make failure in any of the To be fued in faid Payments fo by this Act appointed to be made into his Majefty's Exchequer as aforefaid, at or be- cafe of Failure fore the refpective Days or Times to be directed and appointed as aforefaid, the Money whereof fuch m the Payments, 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 Weftminjler, wherein no Effoin, Protection, Privilege or Wager of Law fhall be allowed, or any more than one Im- parlance ; in v/hich Action, Bill, Suit or Information, it fhall be lawful to declare, that the faid United Company of Merchants of England trading to the Eaft Indies, are indebted to his Majefty the Monies of which they fhall have made Default in Payment according to the Form of this Statute, and have not paid Xhe fame, which fhall be fufficient; and in or upon fuch Action, Bills, Suit or Information, there fhall yoju VI. % z z be