Exchequer 3,000,000l. of Majesty's most faithful Commons, do therefore most humbly beseech Your Majesty that it may be enacted; and be it enacted by the King's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, That the several Persons, their Executors, Administrators, The Persons and Assigns, who on the Eighth Day of May One thousand eight who subscribed hundred and twenty-nine caused their Names to be inscribed in a for funding Book opened at the Bank of England for the Purpose of funding Exchequer Bills, and who deposited Twenty Pounds per Centum on the Amount of Three Millions of Exchequer Bills which they subscribed, shall, upon the Completion of the Amount subscribed by them respectively, in Manner and at the Times required by this Act, be entitled, for every One hundred Pounds Principal 4 per Cents. Money contained in the Exchequer Bills so subscribed, to One for every 100%. hundred and one Pounds Ten Shillings Capital Stock in Annuities, subscribed, on at the Rate of Four Pounds per Centum per Annum, to commence completing their Subscripfrom the Fifth Day of April One thousand eight hundred and twenty-nine; which said Annuities shall be paid and payable at the Bank of England at the Times and in the Manner herein mentioned. Bills, and deposited 20 per Cent., shall be entitled to ent 1011. 10s. tions. II. And be it further enacted, That all the Monies converted Annuities to be into Annuities after the Rate of Four Pounds per per Centum deemed Joint ties. Annum by virtue of this Act, or intended so to be, shall be deemed, Stock Annuireputed, and taken to be one Capital or Joint Stock, and shall be added to and made Part of the Joint Stock of Annuities with and shall be redeemable at the same Time and in like Manner as the Annuities carrying an Interest after the Rate of Four Pounds per Centum per Annum, established by an Act of the Seventh Year of the Reign of His present Majesty, for funding Eight Millions of Exchequer Bills; and all and every Person or Persons and Corporations whatsoever, in Proportion to the Money which he, she, or they shall become entitled as aforesaid by virtue of this Act, shall have or be deemed to have a proportional Interest and Share in the said Stock of Annuities, at the Rate aforesaid. ments to be made in Man ner herein mentioned. III. And be it further enacted, That the said several Subscrib- Future Instalers shall deposit the future Instalments of Exchequer Bills with the Governor and Company of the Bank of England on or before the Days or Times hereinafter mentioned; that is to say, Twenty Pounds per Centum on or before the Nineteenth Day of June next, Twenty Pounds per Centum on or before the Thirty-first Day of July next, Twenty Pounds per Centum on or before the Eleventh Day of September next, and Twenty Pounds per Centum on or before the Twenty-third Day of October next; and that no Exchequer Bills shall be deposited under this Act which have been advertised to be paid off, and the Interest thereof shall have previously ceased. Infants. IV. And be it further enacted, That it shall and may be lawful Guardians may for any Guardian or Trustee, having the Disposition of any Ex- subscribe for chequer Bills of any Infant, to subscribe for or towards advancing the said Sum of Three Millions as aforesaid; and such Infant, upon the Deposit of the Amount subscribed by such Guardian or Trustee, shall become a Subscriber within the Meaning of this Act, N 2 Subscribers to be allowed In terest on the Exchequer Bills deposited. Interest to be ments made in advance. Act, and be entitled to have and receive the Annuities, Advantages, and Payments in respect thereof in such and the like Manner as any other Subscriber; and the said Guardian and Trustee, as to the said Sum or Sums so subscribed, is hereby discharged, so as the Name of such Infant be expressed in the Receipt or Receipts for such Exchequer Bills. V. And be it further enacted, That every such Subscriber shall be entitled to receive, at the Office of the Paymasters of Exchequer Bills, Interest on the Amount of the Exchequer Bills deposited by them respectively at the Bank of England in pursuance of this Act, in Manner following; (that is to say,) upon the Amount of the Exchequer Bills deposited for the first Instalment, every such Subscriber shall be allowed Interest from the Day of the Date of such Bills so deposited up to the Eighth Day of May One thousand eight hundred and twenty-nine, and for the Amount of such Exchequer Bills which shall be so deposited by any such Subscriber for the second and every subsequent Instalment according to the Directions of this Act, every such Subscriber shall be allowed Interest from the Day of the Date of such Bills so deposited up to the several Days upon which such Instalments respectively become due. VI.. And be it further enacted, That it shall and may be lawful. allowed on Pay for such Subscribers as aforesaid to deposit Exchequer Bills; and in such Case, whenever Exchequer Bills shall be so deposited, such Subscriber shall be entitled to and shall receive, at the Office of Paymasters of Exchequer Bills, the Interest due on such Exchequer Bills from the Day of the Date thereof up to the Day when the several Instalments respectively would have become due if such Deposit had not been made in Advance. Subscribers, on depositing Exchequer Bills, or paying Money in lieu thereof, to be entitled to An nuities payable half-yearly. As soon as Subscriptions are completed, Annuities may be transferred. VII. And be it further enacted, That all and every Person and Persons, Bodies Politic and Corporate, who shall have deposited or shall deposit any such Exchequer Bill or Bills as aforesaid, shall, for every Sum of One hundred Pounds contained in such Exchequer Bills, and so in Proportion for any greater Sum, have and be entitled to the Capital Stock in Annuities herein-before mentioned; and the Annuities thereon shall be payable half-yearly at the Bank of England on the Tenth Day of October and the Fifth Day of April in every Year, the first Payment to become due on the Tenth Day of October One thousand eight hundred and twenty nine; and all Persons and Corporations entitled to any such Annuity or Annuities aforesaid, and his, her, and their Executors, Administrators, Successors, and Assigns respectively, and all Persons and Corporation lawfully claiming under him, her, or them, shall have good, sure, absolute, and indefeasible Estates and Interests in the said Annuities, according to the true Tenor and Meaning of this Act, until the Redemption thereof in the Manner herein directed, and shall be possessed thereof as of a Personal Estate, which shall not be descendible to Heirs, nor liable to any foreign Attachment by the Custom of London or otherwise; any Law, Custom, or Usage to the contrary notwithstanding. VIII. And be it further enacted, That as soon as any Subscribers, their Executors, Administrators, Successors, or Assigns, shall have deposited at the Bank of England Exchequer Bills to the full Amount of the Sums subscribed by them respectively, the Principal Principal Sum or Annuity to which such Subscriber is entitled IX. Provided always, and be it further enacted, That all and every such Subscriber or Subscribers, his, her, or their Executors, Administrators, Successors, and Assigns, who shall have deposited with or paid to the Governor and Company of the Bank of England the Whole of his, her, or their Subscription on or before the Fifth Day of October One thousand eight hundred and twenty nine, shall be entitled to have and receive, on the Tenth Day of October One thousand eight hundred and twenty-nine, at the Bank of England, the Half Year's Annuity that shall become due on the Tenth Day of October One thousand eight hundred and twenty-nine; and that all and every Person or Persons, who shall not have completed the Whole of their said Payments on or before the said Fifth Day of October One thousand eight hundred and twenty-nine, shall, on completing the same within. the Time in this Act prescribed, be entitled to receive, on the Fifth Day of April One thousand eight hundred and thirty, the Year's Annuity on the said Annuities from the Fifth Day of April N 3 One Annuities pay One thousand eight hundred and twenty-nine, according to the true Intent and Meaning of this Act. X. And be it further enacted, That the Annuities aforesaid able and trans- shall be payable and paid and be transferable at the Bank of England, and shall be subject to such Redemption as is hereinafter mentioned. ferable at the Bank. XI. And be it further enacted, That so much Money shall from Time to Time be set apart and issued at the Receipt of the Exchequer in England, out of the Consolidated Fund of the United Kingdom of Great Britain and Ireland, to the said Cashier or Cashiers of the Governor and Company of the Bank of England, as shall be sufficient to satisfy and pay the respective Annuities to be created in respect of the said Sum of Three Millions, together with the Charges attending the same. XII. And be it further enacted, That all the said Annuities, Interest, and Dividends, which shall become payable in respect of the said Sum of Three Millions, shall be charged and chargeable upon, and are hereby charged upon and made payable out of, the Consolidated Fund of the United Kingdom of Great Britain and Ireland. XIII. And for the more easy and sure Payment of the Annuities established by this Act, be it further enacted, That the said Governor and Company of the Bank of England, and their Successors, shall from Time to Time, until all the said Annuities shall be redeemed or shall cease, appoint and employ One or more sufficient Person or Persons within their Office in the City of London to be their Chief or First Cashier or Cashiers, and One other sufficient Person within the same Office to be their Accountant General; and that so much of the Monies by this Act appropriated for the Purpose as shall be sufficient from Time to Time to answer the said Annuities, and other Payments herein directed to be made out of the said Consolidated Fund in respect of the said Sum of Three Millions, shall, by Order of the Commissioners of the Treasury of the United Kingdom of Great Britain and Ireland, or any Three or more of them, or the Lord High Treasurer of the United Kingdom of Great Britain and Ireland for the Time being, without any further Warrant to be sued for, had, or obtained in that Behalf, from Time to Time, at the respective Days of Payment in this Act appointed for Payment thereof, be issued and paid at the Receipt of the Exchequer of Great Britain to the said First or Chief Cashier or Cashiers of the said Governor and Company of the Bank of England, and their Successors for the Time being, by way of Imprest and upon Account, for the Payment of the Annuities in respect of the said Sum of Three Millions payable by virtue of this Act; and such Cashier or Cashiers, to whom the said Money shall from Time to Time be issued, shall from Time to Time, without Delay, pay the same accordingly, and render his or their Accounts thereof according to the due Course of the Exchequer in Great Britain; and the said Accountant General for the Time being shall from Time to Time inspect and examine all Receipts and Payments of the said Cashier or Cashiers, and the Vouchers relating thereto, in order to prevent any Fraud, Negligence, or Delay. XIV. And XIV. And be it further enacted, That the Cashier or Cashiers of the Governor and Company of the Bank of England, who shall have received or shall receive any Part of the said Subscriptions towards the said Sum of Three Millions, shall give a Receipt or Receipts in Writing to every such Subscriber for the Principal Money comprized in the Exchequer Bills deposited by them respectively, and the Receipts so to be given shall be assignable at any Time before the Eleventh Day of September One thousand eight hundred and twenty-nine, and no longer: Provided always, that such Cashier or Cashiers shall give Security to the good Liking of any Three or more of the said Commissioners of the Treasury, or the said Lord High Treasurer for the Time being, for duly answering and delivering over to the Paymaster of Exchequer Bills all the Exchequer Bills which they have already received, and shall hereafter receive from Time to Time, of and for the Whole of the said Sum of Three Millions, and for accounting duly for the same, and for Performance of the Trust hereby in him or them reposed, and shall from Time to Time deliver to the Paymaster of Exchequer Bills all the Exchequer Bills which shall be so deposited, as soon as he or they shall receive the same, or any Part thereof, or within Five Days afterwards at the furthest, and shall account for the same in the said Exchequer, according to the due Course thereof. XV. And be it further enacted, That all the Exchequer Bills so deposited or to be deposited, according to the Directions of this Act, with the Governor and Company of the Bank of England, shall be from Time to Time transmitted by the said Governor' and Company, and delivered over to the Paymasters of Exchequer Bills to be cancelled, and the Receipt for such Exchequer Bills, signed by any Two of the said Paymasters, shall be a sufficient Acquittance to the said Cashier or Cashiers in accounting for the Exchequer Bills to be received by them in pursuance of this Act; and the said Paymasters of Exchequer Bills are hereby authorized and required, upon Receipt of any such Bill, to mark and cancel the same, and to pay the Interest thereupon, according to the Provisions of this Act. Books to be kept at the Subscribers Bank, in which Names shall be entered. XVI. And be it further enacted, that in the Office of the Accountant General of the Governor and Company of the Bank of England for the Time being a Book or Books shall be provided and kept, in which the Names of the Subscribers shall be fairly entered; which Book or Books the said respective Subscribers, their respective Executors, Administrators, Successors, and Assigns, shall and may from Time to Time, and at all seasonable Times, resort to and inspect without any Fee or Charge; and A Duplicate to the said Accountant General shall, on or before the Fifth Day of be delivered to July One thousand eight hundred and thirty, transmit an attested the Auditor of Duplicate, fairly written on Paper, of the said Book or Books, into the Exchequer. the Office of the Auditor of the Receipt of His Majesty's Exchequer of Great Britain, there to remain for ever. scribed and Stock created XVII. And be it further enacted, That the Accountant-General Amount subof the Governor and Company of the Bank of England shall certify to the Commissioners for the Reduction of the National Debt the Amount of all Exchequer Bills subscribed to be funded under the Provisions of this Act, and also the total Amount of the Capital sioners. N 4 Stock to be certified to Commis |