and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, That all and every Person and Persons, Bodies Politic and Corporate, who on Behalf of themselves, or in Trust for others, now is or are, or hereafter may be interested in or entitled unto any Part of the National Debt redeemable by Law, which now carries an Interest after the Rate of Four Pounds per Centum per Annum, and is usually known by the Name of the "Four per Cent. Annuities," the Dividends of which are payable at the Bank of England on the Fifth Day of April and Tenth Day of October in each Year, and who shall not signify his, her or their Assent to accept Three Pounds Ten Shillings per Centum Annuities, upon the Terms and in the Manner hereinafter mentioned, shall on the Tenth Day of October One thousand eight hundred and twenty four receive the Sum of Thirty three Pounds Six Shillings and Eight Pence per Centum for every One hundred Pounds of such Four Pounds per Centum Annuities, and so in Proportion for any greater or less Amount of such Four Pounds per Centum Annuities, which may be then standing in his, her or their Name or Names, and One third Part of the Capital of such Annuities shall, from the said Tenth Day of October One thousand eight hundred and twenty four, be considered as cancelled and paid off, and no Interest shall from thenceforth accrue or become payable thereon: Provided always, that the Payment at the Bank of any such Thirty three Pounds Six Shillings and Eight Pence per Centum, for the Use of the Person or Persons entitled thereto, shall be and be deemed to be a full Discharge of the Amount so paid, and that the Proprietors, or their Agents duly authorized shall be at liberty to demand and receive Payment from the Bank, upon Application for that Purpose, at any Time after the Tenth Day of October One thousand eight hundred and twenty four, of the Sum so paid for the Use of the Proprietor or Proprietors entitled thereto.

on signifying

their Assent on or before 6th

April 1824, may receive 3 Į per Cents.

II. And be it further enacted, That all and every Person or Proprietors of pos- 41. per Cents., Persons, Bodies Politic or Corporate, who shall hold or be sessed of any such Four Pounds per Centum Annuities, and who shall, on or before the Sixth Day of April One thousand eight hundred and twenty four, signify in the Manner hereinafter directed his, her or their Assent to accept and receive Three Pounds Ten Shillings per Centum Annuities, in lieu of his, her or their respective Share or Shares in the said Four Pounds per Centum Annuities, shall for every One hundred Pounds of such Four Pounds per Centum Annuities receive One hundred Pounds Capital Stock, in a New Stock, to be created and denominated Three Pounds Ten Shillings per Centum Reduced Annuities, and so in Proportion for any greater or less Amount, the Dividends or Interest of which shall be paid and payable at the Bank of England on the Fifth Day of April and Tenth Day of October in each and every Year, and the First Payment of which shall be made on the Fifth Day of April One thousand eight hundred and twenty five, and the said Annuities shall be subject and liable to Redemption upon and at any Time after the Tenth Day of October One thousand eight hundred and twenty nine.

C 3

III. And

Assent to be

Bank in manner herein mentioned,

III. And be it further enacted, That all and every Person or signified at the Persons, Bodies Politic or Corporate, possessed of any Part of the said Four Pounds per Centum Annuities, and who shall desire to signify his, her or their Assent to receive Three Pounds Ten Shillings per Centum Annuities in lieu thereof, shall on or before the said Sixth Day of April One thousand eight hundred and twenty four, but within the usual Hours of transacting Business at the Bank of England, by themselves or some Agent or Agents for that Purpose duly authorized, signify to the Governor and Company of the Bank of England such Assent in Writing under his, her or their Hand or Hands, or the Hand or Hands of his, her or their Agent or Agents, together with the Amount of his, her or their respective Share or Shares in the said Four Pounds per Centum Annuities, and which said Assent shall be entered in a Book or Books to be opened and kept by the said Governor and Company for that Purpose; and in case of any Transfer of such Share or Shares of such Annuities, or any Part or Parts thereof, after such Assent, the Part or Parts of such Annuities so transferred shall be entered in the said Book or Books of the said Governor and Company separately from the said Four Pounds per Centum Annuities, in respect of which no such Assent shall be signified; and every Person or Persons so assenting, or his, her or their Assigns, or the Executors or Administrators of such Assigns under any such Transfer, shall, from the Tenth Day of October One thousand eight hundred and twenty four, be entitled to One hundred Pounds of such Three Pounds Ten Shillings per Centum Annuities, in lieu of every One hundred Pounds of their said Four Pounds per Centum Capital Stock.

and entered in the Bank Books.

Person assenting entitled to 1001. Sal. per Cent. Annuities.

Persons out of the Kingdom allowed further

Time to signify
Assents as here

in mentioned.

IV. Provided always, and be it further enacted, That if any Person or Persons holding any such Four Pounds per Centum Annuities shall not be within the Limits of the United Kingdom at any Time between the Twenty fourth Day of February One thousand eight hundred and twenty four, and the Sixth Day of April One thousand eight hundred and twenty four, but shall be in any other Part of Europe, it shall be lawful for such Person or Persons to signify such Assent at any Time before the First Day of June One thousand eight hundred and twenty four; and if any such Person or Persons shall not, at any Time between the Twenty fourth Day of February and the First Day of June One thousand eight hundred and twenty four, be within any Part of Europe, it shall be lawful for him, her or them to signify such Assent at any Time before the First Day of March One thousand eight hundred and twenty five, such Person or Persons proving to the Satisfaction of the Governor or Deputy Governor of the Bank of England, his, her or their Absence from the United Kingdom, or being out of Europe, as above specified, and that his, her or their Share or Shares of such Four Pounds per Centum Annuities stood in his, her or their Name or Names respectively, or in the Name or Names of any One or more Trustec or Trustees on his, her or their Behalf, in the Books of the Governor and Company of the Bank of England, on the Twenty fourth Day of February One thousand eight hundred and twenty four: Provided also, that such Person or Persons so absent from the United Kingdom, or out of Europe, shall signify

such

such his, her or their Assent within Ten Days after his, her or their Return to the United Kingdom.

solidated Fund.

V. And be it further enacted, That the Interest and Dividends Interest of 31⁄2l. payable in respect of the said Three Pounds Ten Shillings per per Cents. Centum Annuities, shall be charged and chargeable upon, and charged on Conshall be issued and paid out of the Consolidated Fund of the United Kingdom of Great Britain and Ireland, in the same Manner as the Interest and Dividends of the said Four Pounds per Centum Annuities now stand charged on the said Fund.

Remaining
Two thirds of
Stock paid
as Treasury

shall appoint,
not less than
One tenth at one

Time.

VI. And be it further enacted, That all and every Person and Persons, Bodies Politic and Corporate, and their Successors, Executors, Administrators and Assigns, who on the Tenth Day of October One thousand eight hundred and twenty four shall be possessed of or entitled unto any of the said Four Pounds per Centum Annuities, and in respect of which an Assent shall not have been signified within the Periods and in the Manner hereinbefore expressed, to accept and take Three Pounds Ten Shillings per Centum Annuities in lieu thereof, shall be and they are hereby declared liable to be paid the remaining Two third Parts of their said Capital Stock at such Time or Times, and either in one Sum or in such Proportion or Proportions, as may be appointed by the Commissioners of His Majesty's Treasury of the United Kingdom of Great Britain and Ireland for the Time being, or any Three or more of them; provided that Six Months Notice of the Intention to make any such Payment or Payments be published in the London Gazette, and also affixed upon the Royal Exchange of London; and provided also, that not less than One tenth Part of the remaining Capital Stock shall be paid off at tioned. any one Time; and the Capital Stock so directed to be paid off shall, from the Time fixed for any such Payment, be considered as cancelled, and a Certificate thereof shall be transmitted by the Governor and Company of the Bank of England to the Commissioners for the Reduction of the National Debt.

Six Months' Notice of Inpublished as herein men

tention to pay,

VII. And be it further enacted, That every Proprietor or Pro- Dividends on prietors of the Four Pounds per Centum Annuities aforesaid shall 41. per Cents. receive the Dividends on the said Annuities due thereon on the paid.

Tenth Day of October One thousand eight hundred and twenty four.

VIII. And be it further enacted, That it shall be lawful for the Accountant General of the Court of Chancery, and also for the Accountant General of the Court of Exchequer respectively, at any Time before the Thirtieth Day of June One thousand eight hundred and twenty four, to signify to the Governor and Company of the Bank of England, on behalf of any Suitor or Suitors, or others interested in any such Four Pounds per Centum Annuities, standing in the Names of such Accountants General respectively, their Assent to accept and receive Shares in the said Three Pounds Ten Shillings per Centum Annuities, in lieu of all such Four Pounds per Centum Annuities standing in their Names respectively; and the said Accountants General of the said Courts of Chancery and Exchequer respectively shall be fully indemnified against all Actions, Suits or Proceedings, for or in respect of any Action, Matter or Thing done by them respectively in pursuance thereof.

C 4

IX. And

Accountants

General of
Chancery and
Exchequer mav

assent.

Executors, &c. may assent.

Proviso for such
Executors, &c.
as reside
Abroad.

One Executor,

&c. may assent for himself and

the rest.

Books to be opened at the Bank of Eng

land for receiving the Entry of the New 311

per Cents.

Bank to appoint
Cashier and
an Accountant
General.

IX. And be it further enacted, That all Executors, Administrators, Guardians and Trustees of or for any Person or Persons, and all Committees of the Estates of Idiots and Lunatics, who as such shall have the Controul over any Share or Shares of the said Four Pounds per Centum Annuities, standing either in their own Name or Names, or in the Name or Names of any Testator or Intestate, or of any Infant or Infants, or Idiots or Lunatics, or other Person or Persons, may signify such Assent as aforesaid at any Time before the Last Day of April One thousand eight hundred and twenty four; and if either or any Two or more of such Executors, Administrators, Guardians, Trustees, and Committees shall reside out of the United Kingdom, the Period within which such Assent may be signified shall be regulated by the Residence of the most distant of such Executors, Administrators, Guardians, Trustees and Committees in each Case: and all Executors, Administrators, Guardians, Trustees and Committees signifying such Assent shall be severally and respectively indemnified in respect thereof: Provided always, that an Assent for the Purposes aforesaid, signed by One of such Executors, Administrators, Guardians, Trustees or Committees, for and on behalf of himself and the others or other of them, shall be sufficient, and shall be binding and conclusive upon the others and other of them, and shall be acted upon by the said Governor and Company, as if the same had been signed by the whole of such Executors, Administrators, Guardians, Trustees and Committees, unless some One or more of them shall give Notice to the said Governor and Company, previous to the Expiration of the Time hereby given for signifying such Assent of his, her or their Dissent thereto.

X. And be it further enacted, That it shall and may be lawful for the said Governor and Company of the Bank of England, at any Time after the Sixth Day of April One thousand eight hundred and twenty four, to open Books for writing up and receiving the Entry into the Three Pounds Ten Shillings per Centum Annuities of any of the Four Pounds per Centum Annuities before described, belonging to any Proprietor or Proprietors who may have expressed his, her or their Assent to receive such Three Pounds Ten Shillings per Centum Annuities, and who may thereby have converted his, her or their Four Pounds per Centum Annuities into the said Annuities at the Rate of Three Pounds Ten Shillings per Centum per Annum; but the Dividend or Dividends of the said Four Pounds per Centum Annuities which would become due on the Tenth Day of October One thousand eight hundred and twenty four, shall be paid and payable to the Person or Persons in whose Name the said Three Pounds Ten Shillings per Centum Annuities may stand on the Tenth Day of October One thousand eight hundred and twenty four.

XI. And for the more easy and sure Payment of the Annuities established by this Act, it is hereby further enacted, That the said Governor and Company of the Bank of England, and their Successors, shall from time to time 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 Öne other sufficient Person within the same Office to be their Account

ant

ant General; and that the Monies from time to time and at any time being in the Receipt of the Exchequer, hereby made applicable to the Payment of the said Three Pounds Ten Shillings per Centum Annuities, shall, by Order of the said Commissioners of the Treasury, or any Three or more of them, or the Lord High Treasurer for the Time being, without any further or other Warrant to be sued for, had or obtained in that Behalf, be issued and paid at the said Receipt of Exchequer 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 said Annuities; and that such Cashier or Cashiers, to whom the said Monies shall from time to time be issued, shall from time to time, without Delay, apply and pay the same accordingly, and render his or their Accounts thereof according to the due Course of the Exchequer.

XII. And it is hereby also enacted, That 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 thereunto, in order to prevent any Fraud, Negligence or Delay.

per

Accountant
General to ex-

amine Receipts
and Payments.

All the Monies

to be converted

be one Joint

Stock.

Books of Entry and Registry kept by Accountant Gene

ral.

XIII. And be it further enacted, That all the said Annuities, after the Rate of Three Pounds Ten Shillings per Centum Annum, created by virtue of this Act, shall be deemed, reputed into Annuities and taken to be One Capital or Joint Stock; and that all and by this Act to every Person and Persons, and Bodies Politic and Corporate whatsoever, shall have and be deemed to have a proportional Interest and Share in the said Stock, and in the Annuity attending the same, at the Rate aforesaid; and that the said whole Capital Stock or Joint Stock, or any Share or Interest therein, and the proportional Annuity attending the same, shall be assignable and transferrable as this Act directs, and not otherwise; and that there shall be constantly kept in the Office of the said Accountant General for the Time being, within the City of London, a Book or Books wherein all Assignments or Transfers of the said Capital or Joint Stock, or any Part thereof, and the proportional Annuity attending the same at the Rate aforesaid, shall be entered and registered, which Entries shall be conceived in proper Words for that Purpose, and shall be signed by the Parties making such Assignments or Transfers or if any such Party or Parties be absent, by his, her or their Attorney or Attornies thereunto lawfully authorized by Writing under his, her + their Hands and Seals, to be attested by Two or more credible Witnesses, and that the Person or Persons to whom such Transfer or Transfers shall be made, shall respectively underwrite his, her or their Acceptance thereof; and that no other Method of assigning or transferring the said Stock and the Annuities attending the same, or any Part thereof, or any Interest therein, shall be good and available in Law; and that no Stamp Duties whatsoever shall be charged on the said Transfers, or any of them. XIV. And be it further enacted, That all Persons and Corpor- Annuities to be ations entitled to any such Annuity or Annuities of Three Pounds Ten Shillings per Centum per Annum, created by this Act, and his, her or their Administrators, Successors and Assigns respectively,

+ Sic.

Personal Estate.