Page:The Public General Statutes of the United Kingdom 1873 (36 & 37 Victoria).pdf/226

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HEREAS it is expedient that provision should be made for the redemption or commutation of the Dividend on the Capital Stock of the East India Company, and for the transfer of the Security Fund of the India Company to the Secretary of State in Council of India, and for the dissolution of the East India Company:

Be it therefore enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in the present Parliament assembled, and by the authority of the same, as follows:

1. This Act may be cited as "The East India Stock Dividend Redemption Act, 1873."

2. In this Act—

"East India Stock" means the Capital Stock of the East India Company:

The expression "Proprietors of East India Stock" means and includes all persons, bodies politic or corporate, and the executors or administrators of all persons in whose names any portion or Share of East India Stock may be standing in the books kept for or on behalf of the East India Company by the Governor and Company of the Bank of England.

3. The Dividend now payable by law to the East India

Company on East India Stock shall be redeemed or commuted, as herein-after mentioned.

4. The Dividend now payable by law to the East India

Company on East India Stock shall continue payable until the Thirtieth day of April One thousand eight hundred and seventy-four, and no longer.

Provided always, that a proportionate part of the said Dividend, and no more, shall become due for the period from the Sixth day of January One thousand eight hundred and seventy-four, to the Thirtieth day of April in the same year; and the payment of such proportionate part shall be made as near as may be in the manner in which the half-yearly payments of the said Dividend are now made, and all powers of attorney in force at the time of the passing of this Act, or