Page:The Statutes of the United Kingdom of Great Britain and Ireland 1833 (3 & 4 William IV).pdf/839

A.D. 1833. ment to be made on the Sixth Day of July One thousand eight hundred and thirty-four.

XII. Provided always, and be it enacted, That the said Dividend shall be subject to Redemption by Parliament upon and at any Time after the Thirtieth Day of April One thousand eight hundred and seventy-four, on Payment to the Company of Two hundred Pounds Sterling for every One hundred Pounds of the said Capital Stock, together with a proportionate Part of the same Dividend, if the Redemption shall take place on any other Day than one of the said half-yearly Days of Payment: Provided also, that Twelve Months Notice in Writing, signified by the Speaker of the House of Commons by the Order of the House, shall be given to the said Company of the Intention of Parliament to redeem the said Dividend.

XIII. Provided always, and be it enacted, That if on or at any Time after the said Thirtieth Day of April One thousand eight hundred and fifty-four the said Company shall, by the Expiration of the Term hereby granted, cease to retain, or shall by the Authority of Parliament be deprived of the Possession and Government of the said Territories, it shall be lawful for the said Company within One Year thereafter to demand the Redemption of the said Dividend, and Provision shall be made for redeeming the said Dividend, after the Rate aforesaid, within Three Years after such Demand.

XIV. And be it enacted, That there shall be paid by the said Company into the Bank of England, to the Account of the Commissioners for the Reduction of the National Debt, such Sums of Money as shall in the whole amount to the Sum of Two Millions Sterling, with Compound Interest after the Rate of Three Pounds Ten Shillings per Centum per Annum, computed half-yearly from the said Twenty-second Day of April One thousand eight hundred and thirty-four, on so much of the said Sums as shall from Time to Time remain unpaid; and the Cashiers of the said Bank shall receive all such Sums of Money, and place the same to a separate Account with the said Commissioners, to be intituled “The Account of the Security Fund of the India Company;” and that as well the Monies so paid into the said Bank as the Dividends or Interest which shall arise therefrom shall from Time to Time be laid out, under the Direction of the said Commissioners, in the Purchase of Capital Stock in any of the redeemable Public Annuities transferable at the Bank of England; which Capital Stock so purchased shall be invested in the Names of the said Commissioners on account the said Security Fund, and the Dividends payable thereon shall be received by the said Cashiers and placed to the said Account, until the whole of the Sums so received on such Account shall have amounted to the Sum of Twelve Millions Sterling; and the said Monies, Stock, and Dividends, or Interest, shall be a Security Fund for better securing to the said Company the Redemption of their said Dividend after the Rate herein-before appointed for such Redemption.

XV. Provided always, and be it enacted, That it shall be lawful for the said Commissioners for the Reduction of the National Debt from Time to Time, and they are hereby required, upon Requisition made for that Purpose by the Court of Directors of the said Com-