Page:Ruffhead - The Statutes at Large - vol 7.djvu/665

A. D. 1756. one Capital or Joint Stock ; and that all Persons and Corporations whatsoever, in Proportion to the Monies by them severally advanced for the Purchase of the said Annuities, after the Rate of three Pounds ten Shillings per Centum per Annum, or to which they shall become intitled by virtue of this Act, shall have and be deemed to have, a proportional Interest and Share in the said Stock, and in the Annuities attending the same, at the Rate aforesaid;

and that the said whole Capital or Joint Stock, or any Share or Interest therein, and the proportional Annuity attending the same, shall be assignable and transferrable as this Act directs, and not otherwise.

And be it further enacted by the Authority aforesaid, That all the Monies to which any Person or Persons shall become intitled by virtue of this Act, in respect of any Sum advanced or contributed towards the said Sum of five hundred thousand Pounds, on which the said Annuities, after the Rate of three Pounds per Centum per Annum, shall be attending, shall be added to the Joint Stock of Annuities transferrable at the Bank of England, into which the several Sums, carrying an Intereft after the Rate of three Pounds per Centum per Annum, were by an Act made in the twenty-fifth Year of the Reign of his present Majesty converted, and shall be deemed Part of the said Joint Stock of Annuities; subject nevertheless to a Redemption by Parliament, in such Manner, and upon such Notice, as is in the said Act directed in respect of the several and respective Annuities redeemable by virtue of the said Act; and that all and every Person and Persons and Corporations whatsoever, in Proportion to the Money to which he, she or they shall become intitled as aforesaid by virtue of this Act, shall have and be deemed to have, a proportional Interest and Share in the said Joint Stock of Annuities at the Rate aforesaid.

XXXIV. And be it further enacted by the Authority aforesaid. That there shall be constantly kept by the Accomptant General for the Time being. Books wherein all Assignments or Transfers of the to be kept Capital or Joint Stock of Annuities, after the Rate of three Pounds ten Shillings per Centum per Annum, and also all Assignments or Transfers of the said Annuities, after the Rate of three Pounds per Centum per Annum, shall at all seasonable Times be entered and registered;

which Entries shall be conceived in proper Words for that Purpose, and shall be signed by the Parties making such Assignments or Transfers; or if such Parties be absent, by their respective Attorney or Attornies thereunto lawfully authorized in Writing under their Hands and Seals, to be attested by two or more credible Witnesses; and that the several Persons, to whom such Transfers shall be made, do respectively underwrite their Acceptance thereof; and that no other Method of assigning and transferring the said several Annuities or any Part thereof, or any Interest, shall be good and available in Law.

XXXV. Provided always. That all Persons possessed of any Share or Interest in either of the said Joint Stocks of Annuities, or any Estate or Interest therein, may devise the same by Will in Writing, attested by two or more credible Witnesses;

but that no Payment shall be made on any such Devise, till so much of the said Will as relates to the said Joint Stocks of Annuities be entered in the said Office; and in Default of such Transfer or Devise, such Share or Interest in the said Joint Stock of Annuities shall go to the Executors or Administrators; {{-}{{right sidenote|Transfer not liable to Stamp Duties.}} and that no Stamp Duties whatsoever shall be charged on the said Transfers, or any of them ; any other Law or Statute to the contrary notwithstanding.

XXXVI. Provided always, and be it enacted by the Authority aforesaid. That out of the Monies arising from the Contributions towards raising the said Sum of two millions, the Commissioners of the Treasury, or any three or more of them now being, or the High Treasurer, or any three or more of the Commissioners of the Treasury for the Time being, shall have Power to discharge all such incident Charges as shall necessarily attend the Execution of this Act, in such Manner as to them shall seem just and reasonable;

and also to settle and appoint such Allowances as they shall think just and reasonable for the Service, Pains and Labour of the said Cashier or Cashiers, for receiving, paying and accounting for the said Contributions; and also shall have Power to make out of the said Sinking Fund such further Allowances as they shall think just and reasonable, for the Service, Pains and Labour of the Cashier or Cashiers of the Governor and Company or the Bank of England, for receiving, paying and accounting for the several and respective Annuities payable by virtue of this Act; and also for the Service, Pains and Labour of the Accomptant General of the said Governor and Company, for performing the Duty and Trust incumbent on him by this Act ;

all which Allowances hereby impowered to be made as aforefaid, in respect to the Service, Pains and Labour of any Officer or Officers of the said Governor and Company, shall be for the Use and Benefit of the said Governor and Company, and at their Disposal only ; any Thing herein contained to the contrary notwithstanding.

XXXVII. And be it hereby enacted by the Authority aforesaid. That no Fee or Gratuity shall be demanded or taken of any of his Majesty's Subjects, for receiving or paying the said Contribution Monies, or any of them, or for any Tallies or Receipts concerning the same, or for issuing the Monies for paying the said several Annuities, or any of them; and that no Fee or Gratuity shall be demanded or taken for any Transfer, great or small, to be made in pursuance of this Act ; upon Pain that the Officer or Person offending, by taking or demanding any such Fee or Gratuity contrary to this Act, shall forfeit the Sum of twenty Pounds to the Party grieved, to be recovered with full Costs of Suit in any of his Majesty's Courts of Record at Westminster.

XXXVIII. Provided also, and it is hereby enacted by the Authority aforesaid. That at any Time after the Expiration of fifteen Years, to be computed from the eleventh Day of February one thousand seven hundred and fifty-six, and not sooner, upon six Months Notice to be printed in the London Gazette, and affixed upon the Royal Exchange in London, by Authority of Parliament, and upon Repayment by Parliament of the whole Principal Sum of one million five hundred thousand Pounds,' for which the said Annuities, after the Rate of three Pounds ten Shillings per centum per Annum are pay- 4 able^