Exchequer Bills made chargeable upon the shall then have been voted by the Commons of the United Kingdom of Great Britain and Ireland in this present Session of Parliament. 8. The Principal Sum or Sums of Money to be contained in all such Exchequer Bills to be made forth by virtue of this Act, together with the Interest that may become due thereon, ing Produce of shall be and the same are hereby made chargeable and charged grow the Consoli dated Fund. From 5th upon the growing Produce of the Consolidated Fund of the United Kingdom of Great Britain and Ireland, at any Period not later than the next succeeding Quarter to that in which the said Exchequer Bills have been issued; and it shall be lawful for the said Commissioners of Her Majesty's Treasury for the Time being, and they are hereby authorized, from Time to Time, by Warrant under their Hands, to direct the Comptroller General of the Receipt of the Exchequer at Westminster, in such Manner as they shall think necessary, to grant a Credit on the Exchequer Funds in the Bank of England unto such Person or Persons as shall be named in the said Warrant, for any Sum or Sums of Money not exceeding in the whole a Sum sufficient to discharge and pay off the Principal Sum or Sums of Money contained in such Exchequer Bills then outstanding, and which may have been made out and issued by virtue of this Act, together with all such Interest as may be due thereupon. CAP. III. An Act to make further Provision respecting certain Payments to and from the Bank of England, and to increase the Facilities for the Transfer of Stocks and Annuities, and for other Purposes. [22d March 1861.] WHEREAS it is expedient that the Rates of Allowance granted to the Governor and Company of the Bank of England for their Charges in the Management of the National • Debt should be altered, and that new Regulations should be made for limiting the Balances in the Hands of the said 'Governor and Company of Sums issued for the Payment of 'Dividends: Be it enacted by the Queen'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, as follows: 1. From and after the Fifth Day of April One thousand April 1861 the eight hundred and sixty-one there shall be repealed the following Acts; (that is to say,) c. 4. and 56 G. 3. c. 97. repealed. (1.) An Act passed in the Forty-eighth Year of the Reign of His late Majesty George the Third, intituled An Act to authorize the advancing for the Public Service upon certain Conditions a Proportion of the Balance remaining remaining in the Bank of England for Payment of (2.) An Act passed in the Fifty-sixth Year of the Reign of the Bank for Debt. 2. There shall be paid to the Governor and Company of the As to future Bank of England on some Day between the Sixth Day of Payment to April and the Fifth Day of July One thousand eight hundred Management and sixty-two, out of the Consolidated Fund of the United of the Public Kingdom, or the growing Produce thereof, for their Charges in the Management of the Unredeemed Public Debt for the Year ending on the Fifth Day of April One thousand eight hundred and sixty-two, and in like Manner on some Day between the Fifth Day of April and Fifth Day of July in every succeeding Year for the Management of the Debt during the preceding Year ending with the Fifth Day of April in each Year until the Fifth Day of April One thousand eight hundred and eighty-six, and thenceforth in any and every succeeding Year until Parliament shall otherwise direct, Remuneration at the Rates following; that is to say, 1st. While the whole of such Unredeemed Debt, computed 3d. While the whole of such Unredeemed Debt exceeds Six thereof: A 3 Provided Certain Management to So much of 7 & 8 Vict. c. 32. as re quires the Bank to deduct certain Sums from Charges for Manage ment repealed, and other Pro visions made. Regulation as to Balances on the Dividend Account at the Bank. 24 VICT. Provided always, that in estimating the Amount of Unredeemed Debt for the Purposes of this Act Annuities for Terms of Years shall be taken into account, and shall for the Purpose of making a nominal Capital be valued at Fifteen Years Purchase, if originally granted for a Term exceeding Fifty Years, and at Ten Years Purchase if granted for a Term of Fifty Years or under. 3. After the said Fifth Day of April One thousand eight hundred and sixty-one there shall cease to be paid to the Governor and Company the following Sums; that is to say, (1.) The Sum of Four thousand Pounds, Part of the Annuity of One hundred thousand Pounds payable to the said Governor and Company in pursuance of the Act of the Session of the Fifth and Sixth Years of William and Mary, Chapter Twenty, and subsequent Acts: (2.) The annual Sum of One thousand five hundred and seventy-nine Pounds Eight Shillings and Fourpence payable to the said Governor and Company in respect of the Management of the Portion of the Capital Stock purchased of the South Sea Company, under the Provisions of an Act passed in the Seventh Year of His Majesty King George the First, Chapter Five. 4. So much of the Act of the Session of the Seventh and Eighth Years of Her present Majesty as requires that the Governor and Company of the Bank of England shall deduct certain Sums payable by them from the Sums payable to them for the Charges of Management of the Public Unredeemed Debt is hereby repealed, and it is enacted, that the Sum of Sixty thousand Pounds payable by them under the said Act in consideration of the Exemption from Stamp Duties shall be paid on some Day between the Sixth Day of April and the Fifth Day of July One thousand eight hundred and sixty-two, and within the like Period in every succeeding Year, to the Commissioners of Inland Revenue, and the whole Allowance out of Profits of Issue, being at this Time One hundred and twentyeight thousand and seventy-eight Pounds, constituting the Residue of the Monies payable by them under the said Act, shall be paid within the like Period to the Account of the Comptroller of the Exchequer at the Bank of England, to be carried to and form Part of the Consolidated Fund of the United Kingdom. 5. Whenever the Balances in the Hands of the Governor and Company of the Bank of England of Sums issued for the Payment of Dividends and Terminable Annuities on account of the National Debt due and not demanded are reduced to a less Sum than One hundred thousand Pounds, the said Governor and Company shall certify the Amount of Deficiency to the Commissioners of the Treasury, and the Commissioners shall as often as they may judge expedient direct the Issue out of the Consolidated Consolidated Fund of a Sum not exceeding the Amount required to raise the said Balances to the Sum of One hundred thousand Pounds, and within Thirty Days after the Expiration of every Quarter an Account shall be taken of the lowest Amount of the Balances in the Hands of the said Governor and Company on the same Account; and it shall be lawful for the Commissioners of the Treasury, if they think fit, to require the said Governor and Company of the Bank of England to repay to the Account of the Comptroller of the Exchequer opened in the Books of the said Bank any Sum by which the said Balances may exceed One hundred thousand Pounds. of National Unredeemed 6. The Commissioners for the Reduction of the National Commissioners Debt shall transmit to the Commissioners of the Treasury, as Debt to transsoon after the Fifth Day of April One thousand eight hundred mit to Treasury and sixty-one as conveniently may be, a Statement of the the Amount of total Capital of the Unredeemed Debt as it stands on the said Debt on 5th Fifth Day of April One thousand eight hundred and sixty-one; April 1861. and the Allowance for the Management of the Unredeemed Allowance for Public Debt for the Year ending the Fifth Day of April One be computed on Management to thousand eight hundred and sixty-two shall be computed on the said Capital, and shall be paid to the said Governor and Company out of the Consolidated Fund, or the growing Produce thereof, in One Sum, before the Fifth Day of July One thousand eight hundred and sixty-two, and the Allowance for Management shall be computed and paid in like Manner in every succeeding Year. such Amount. Facilities for 7. And whereas the said Governor and Company have Increase of 'heretofore closed the Books for Transfer of the various the Transfer of Capital Stocks and Annuities created by Parliament transfer- Stocks and "able at the Bank of England, forming Part of the Unredeemed Annuities. Public Debt, for a certain Number of Days prior to the Days 'fixed for the Payment of the half-yearly Dividend thereon respectively, in order to their Convenience in calculating the Dividends due to the several Proprietors thereof, and preparing the Warrants for the same, and during the Period of such closing no Transfers have been permitted, except under Circumstances of special Necessity, and such Transfers have been attended with great Inconvenience, by reason of the Stock so transferred carrying the Right to the current Half Year's Dividend: And whereas it is desirable to increase the Facilities for the Transfer of such Stocks:' Be it enacted, That it shall be lawful for the said Governor and Company to close the Books for the Transfer of the said several Stocks and Annuities respectively on any Day in the Month preceding that in which the Dividends thereon respectively shall by Law be payable; and the Person or Persons who on the Day of the closing of such Books was or were inscribed as the Proprietor or Proprietors of any Share or Shares of and in such Stocks and Annuities respectively shall, as between him, her, or them, and the Transferee or Transferees thereof, be the Person or Persons entitled to the then current Half Year's Dividend thereon; Extending 56 G. 3. c. 60. transfer of unclaimed Dividends Stock. Accounts to be laid before the Bank. 24 VICT. thereon; and the Person or Persons to whom any Transfer shall be made after the Day of the closing of such Books shall not be entitled to the then current Half Year's Dividend on such Stock, but shall take and accept the same exclusive of the Right to the said half-yearly Dividend; provided that the Period for which such Books of Transfer shall be closed shall not exceed Fifteen Days. 6 8. And whereas by an Act passed in the Fifty-sixth Year ' of the Reign of His Majesty King George the Third, intituled 'An Act to authorize the transferring Stock upon which Divi'dends shall remain unclaimed for the Space of at least Ten 'Years at the Bank of England, and also all Lottery Prizes or Benefits, and Balances of Sums issued for paying the Principal of Stocks or Annuities, which shall not have been demanded for the same Period, to the Commissioners for the Reduction of the National Debt, it is enacted, that it shall be lawful for the Governor or Deputy Governor of the Bank of England for the Time being to authorize and direct the 'Accountant General or Secretary of the said Governor and Company for the Time being to re-transfer any Capital Stock which shall have been transferred to the Commissioners for the Reduction of the National Debt under the Circumstances therein mentioned: And whereas it is expedient to ' extend the Authority in the said Act contained to the Deputy Accountant General and Deputy or Assistant Secretary for the Time being of the said Governor and Company:' Be it enacted, That all Transfers directed to be made under the Provisions in that Behalf contained in the said Act to and from the Account of the said Commissioners shall be as valid and effectual, if made by the Deputy Accountant General or the Deputy or Assistant Secretary of the said Governor and Company for the Time being, as if the same had been made by the Accountant General or Secretary of the said Governor and Company for the Time being. 9. The said Governor and Company shall, within Thirty Days after the Meeting of Parliament in every Year, cause an Parliament by Account to be laid before Parliament of the Amount of the Balances of Sums issued for the Payment of Dividends due and not demanded, and which shall be and remain in their Hands on the Days respectively next before the Issue from the Exchequer of Money for the Payment of Dividends upon account of the National Debt for each of the Four preceding Quarters respectively. Provision as Transfer of 6 10. And whereas the said Governor and Company have also heretofore closed, in the Manner and for the Purposes herein-before mentioned, the Books for Transfer of certain Stocks created by the Secretary of State in Council of India, under the Authority of certain Acts of Parliament empowering him in that Behalf, and it is desirable that the Provisions herein-before contained shall extend to the said last-mentioned Stocks likewise:' Be it enacted, That it shall be lawful for the |