Bank to advance 3,0co,ocol, at Three per Cent. 56° GEO. III. A.D. 1816. of Bank Stock, and of the Notes of the faid Governor and Com< pany being received in Payment of every Branch of the Public Revenue as aforefaid, the said Governor and Company shall advance the faid Sum of Three Millions Sterling for the Public Service, to be paid on fuch Days during the prefent Year, and in fuch manner as Parliament fhall direct and appoint, the Repayment thereof to be secured with Interest at the Rate of Three per Cent. per Annum payable annually, and to be repaid at fuch Period as • Parliament shall direct and appoint, not beyond the First Day of Auguft One thoufand eight hundred and thirty three, and to be charged and chargeable upon and to be repaid out of the Confolidated Fund, unless otherwife provided for by Parliament:' Now we, Your Majefty's moft dutiful and loyal Subjects, the Commons of the United Kingdom of Great Britain and Ireland in Parlia ment affembled, being defirous to raife with as much Eafe and Advantage as poffible to Your Subjects the neceffary Supplies, and to encourage the faid Governor and Company to advance the faid Sum of Three Millions, do most humbly befeech Your Majefty that it may be enacted; and be it enacted by The King's Moft Excellent Majefty, by and with the Advice and Confent of the Lords Spiritual and by the Authority of the fame, That it shall and and Temporal, and Commons, in this present Parliament affembled, to and for the faid Governor and Company, and they are hereby may be lawful authorized and empowered, on or before the Tenth Day of Odober One thoufand eight hundred and fixteen, to advance and lend to His Majefty, at the Receipt of His Majefty's Exchequer, upon the Credit of the Confolidated Fund, the Sum of Three Millions Sterling at an Interest of Three Pounds per Centum per Annum, such Interest to be payable annually to the faid Governor and Company at the Receipt of His Majefty's Exchequer, any thing contained in any Act or Acts of Parliament to the contrary notwithstanding. II. And be it further enacted, That the Repayment of the faid Sum of Three Millions and the Intereft thereof at the Rate aforefaid, be and the fame is hereby charged and made chargeable upon the Confolidated Fund, unless otherwife provided for by Parliament, and that fuch Intereft fhall be paid annually to the faid Governor and Company, at the Receipt of His Majefty's Exchequer; the First annual Payment thereof to commence and be made within Ten Days after the Expiration of One Year from the time when the faid Sum of Three Millions fhall have been advanced by the faid Governor and Company as authorized and directed by this A&t; and that the faid Sum of Three Millions with all Arrears of Intereft thereon fhall be repaid to the faid Governor and Company at fuch time or times as Parliament fhall direct or appoint, but fo as fuch Repayment of the faid Principal Sum with all Arrears of Intereft thereon fhall be made and completed on or before the First Day of Auguft One thoufand eight hundred and thirty-three. III. And be it further enacted, That in confideration of the said Advance of Three Millions for the Public Service as aforefaid, the Capital Stock of the faid Governor and Company be and the fame is hereby encreased and extended from the Sum of Eleven millions fix hundred and forty two thousand four hundred Pounds, of which the fame now confifts, to the Sum of Fourteen millions five hundred and fifty three thousand Pounds, making an Encreafe or Addition of Two 11 Two millions nine hundred and ten thousand fix hundred Pounds Capital Stock, and that the faid Sum of Two millions nine hundred To be divided and ten thousand fix hundred Pounds Capital Stock fhall be ap- among the Propropriated and divided amongst the feveral Perfons, Bodies Politic Prietors, after the Rate of 251. and Corporate, who were Proprietors of Bank Stock on the Twenty for every 100l. third Day of May One thoufand eight hundred and fixteen, at Bank Stock. the Rate of Twenty five Pounds for every One hundred Pounds of Bank Stock which fuch Perfons, Bodies Politic and Corporate, were then refpectively Proprietors of or had ftanding in their respective Names in the Books kept by the faid Governor and Company for the Entry and Transfer of fuch Stock, and fo in Proportion for a greater or leffer Sum, and fuch Divifion and Appropriation fhall be placed to the Credit of the respective Names of fuch Perfons, Bodies Politic and Corporate, in the Books of the faid Governor and Company accordingly; and all fuch Perfons, Bodies Politic and Corporate, fhall from the time of fuch Divifion and Appropriation be lawfully entitled to the additional Sum of Bank Stock fo placed in or to the Credit of their refpective Names, and fhall refpectively be entitled to be paid the fame Rate of Dividend thereon, and to poffefs and enjoy the fame Profits, Privileges and Advantages in refpect thereof, in like manner to all Intents and Purposes as they were entitled to be paid, poffefs and enjoy in refpect of the Bank Stock which stood in their refpective Names on the faid Twenty third Day of May One thoufand eight hundred and fixteen. IV. And be it further enacted, That until Repayment to the faid Governor and Company of the faid Sum of Three Millions and all Intereft to become due thereon, the Promiffory Notes of the faid Governor and Company, expreffed to be payable to Bearer on Demand (called Bank Notes), fhall be received in Payment of all Sums of Money which now are or at any time hereafter shall become payable for or in refpect of any Part of the Public Revenue, and shall be accepted and received accordingly by all Collectors, Receivers and other Officers of the Revenue authorized to receive the fame if offered to be fo paid, fractional Parts of Twenty Shillings only excepted. Bank Notes to be received in Payment of the Public Revenue. Encreafed Capi ral Stock to be transferred in fame manner as V. And be it further enacted, That the Capital Stock of the faid Governor and Company of the Bank of England fo encreased as aforefaid fhall be affignable and transferrable in the fame manner as the original Capital Stock of the faid Governor and Company was the Original. affignable and transferrable before the making of this Act, and together with the Produce thereof fhall be free from Parliamentary Taxes, Charges and Impofitions, and all other Taxes, Charges and Impofitions whatsoever; and the Transfers or Affignments of Stock or additional Stock in the Books of the faid Company shall not hereafter be or be made liable to any higher or greater Stamp or other Duties than are now payable for the Transfers or Affignments of their prefent Stock, or any Part thereof; any thing in this A& contained or in any other A&t or Acts of Parliament to the contrary in anywife notwithstanding. САР. 48 G.3. c. 4. An Account fhall be taken Quarterly of Amount of Balances for Payment of Dividends on ac count of the Public Debt. Balance to be retained. CAP. XCVII. An Act to authorize the advancing, for the Public Service, a • Moft Gracious Sovereign, WHEREAS by an Act made in the Forty eighth Year of the Reign of His present Majesty, intituled An A&t to authorize the advancing, for the Public Service, upon certain Conditions, a Proportion of the Balance remaining in the Bank of England for Payment of Unclaimed Dividends, Annuities and Lottery Prizes; and for regulating the Allowances to be paid for the Management of the National Debt; it was among other things enacted, that the Governor and Company of the Bank of England should pay into the Receipt of His Majefty's Exchequer at Weftminfter, out ⚫ of the Balances in their Hands of Sums iffued for the Payment of • Dividends due and not demanded, and of unclaimed Lottery Prizes or Benefits, the Sum of Five hundred thoufand Pounds, for the • Service of the Year One thousand eight hundred and eight: And • Whereas the faid Governor and Company duly paid the faid Sum in • pursuance of the faid Act: And Whereas a confiderable Balance now remains in the Hands of the Governor and Company of the Bank of England, for the Payment of Dividends on account of the Public Debt, for Lottery Prizes or Benefits not claimed, and • Principals of Stocks and Annuities remaining unclaimed; and it is juft and expedient that a Part of the said Balance should be advanced for the Service of the Public, on condition that if at any time the faid Balance shall be reduced to a lefs Sum than One hundred thousand Pounds, then and in that case so much of the Monies ⚫ advanced by the faid Governor and Company as fhall be equal to the Sum by which the faid Balance shall be less than the Sum of • One hundred thousand Pounds, fhall be repaid to the said Governor and Company; Therefore we, Your Majefty's moft dutiful and loyal Subjects, the Commons of the United Kingdom of Great Britain and Ireland in Parliament assembled, do most humbly befeech Your Majesty that it may be enacted; and be it enacted by The King's Moft Excellent Majefty, by and with the Advice and Confent of the Lords Spiritual and Temporal, and Commons, in this prefent Parliament affembled, and by the Authority of the fame, That within Thirty Days after the Expiration of every Quarter an Account fhall be taken of the lowest Amount of the Balances in the Hands of the Governor and Company of the Bank of England, of Sums iffued for the Payment of Dividends and Terminable Annuities on account of the National Debt due and not demanded, and for the Payment of Lottery Prizes or Benefits not claimed, and also of Sums which fhall have been iffued for the Payment of Principals of Stocks or Annuities remaining unclaimed; and it shall be lawful for the faid Governor and Company to retain a Balance of One hundred thousand Pounds from and out of the lowest Sum to which the Dividends, Terminable Annuities, Lottery Prizes and Principals of Stocks Exchequer. Stocks aforefaid, due and remaining unclaimed, fhall appear by fuch Account to have been reduced at any time in fuch Quarter; and the Remainder of whole of the Amount which shall remain due and unclaimed, deduct- Unclaimed Diing therefrom fuch Sum as may be due and payable to the Commif- vidends to be fioners for the Reduction of the National Debt by virtue of an A&t paid into the of this Seffion of Parliament, over and above fuch Sum of One hundred thousand Pounds as aforefaid, fhall, upon the Fifth Day of July, the Tenth Day of October, the Fifth Day of January, and the Fifth Day of April, in every Year, be paid into the Receipt of His Majefty's Exchequer, and applied to fuch Services as fhall be directed by Parliament, without any Intereft for the fame; and if at any time If Balance be hereafter the Monies remaining in the Hands of the Governor and reduced, DefiCompany of the Bank of England, which have been iffued to them ciency to be for the Payment of any fuch Dividends, Lottery Prizes or Benefits, made good. and Principals of Stocks and Annuities, due and remaining unclaimed, fhall be reduced to a lefs Sum than One hundred thousand Pounds, the faid Governor and Company shall forthwith transmit a Certificate Certificate. of the fame, figned by One of their Cashiers, to the Commiffioners of the Treasury, or the Lord High Treasurer for the time being, and also to the Auditor of the Exchequer for the time being, containing a true Statement of the Amount to which the faid Monies fhall then be reduced; and that forthwith on the fame Day on which any fuch Certificate containing fuch Statement as aforefaid shall be prefented to the faid Auditor at the Receipt of the Exchequer, the faid Auditor fhall make out a proper Debenture, directing the Pay- Proceedings ment of fuch Sum of Money as it shall appear by fuch Certificate when it appears the faid Balances fhall be reduced under One hundred thousand that Balance reduced under Pounds, which faid Sum of Money fhall, in cafe the faid Governor and Company of the Bank of England fhall demand the fame, be iffued and paid out of any Money in the Receipt of the Exchequer, of the Aids or Supplies granted to His Majefty, for the Service of the current Year or of any preceding Year, or out of any Monies arifing from the Surplus of the Confolidated Fund which may remain at the End of any Quarter for the Difpofition of Parliament; and every fuch Debenture, being carried to the Clerk of the Pells, fhall be forthwith recorded in the usual Method in which Debentures are by him recorded; and thereupon the Teller or Tellers on whom any fuch Debenture fhall be charged, fhall, upon the fame being prefented to him or them, immediately pay or caufe to be paid to the faid Cashier or Cashiers, for the Ufe of the said Governor and Company, the Sum contained in fuch Debenture accordingly; and in cafe, after the Repayment of any Part of the Monies which fhall have been advanced under this Act, the said Balances fhall at any time be again further reduced, in fuch case, as often as the same shall happen, fuch a further Sum shall in like manner be repaid to the faid Governor and Company, as fhall keep a Balance in the Hands of the faid Governor and Company, for the Payment of any Annuities or Dividends, Lottery Prizes or Benefits, and Principals of Stocks and Annuities, due and not demanded as aforefaid, of Öne hundred thoufand Pounds. 100,000l. II. Provided always, and be it further enacted, That in every cafe Intereft to be in which any fuch Money fhall not be immediately iffued to the faid paid for Money Governor and Company, or their Cafhier, upon fuch Certificate as not immediately aforefaid, Interest at and after the Rate of Five Pounds per Centum iffued. per per W into CAP. XCVIII. An Act to unite and confolidate into One Fund all the Public fhall |