Exchequer Bills Funding. and to the Bank for Ser XIX. The Commissioners of Her Majesty's Treasury shall Payments to be have Power, out of the said Consolidated Fund, to discharge all made for incisuch incident Charges as shall necessarily attend the Execution dent Charges, of this Act, in such Manner as to them shall seem just and reasonable, and also to make Payment of an Allowance for the vices perService, Pains, and Labour of the said Cashier or Cashiers formed. employed in receiving, paying, and accounting for the said Annuities, and also for the Service, Pains, and Labour of the said Accountant General for performing the Trusts reposed in him by this Act, which Allowance in respect of the Service, Pains, and Labour of the said Cashier or Cashiers and Accountant General of the said Governor and Company shall be for the Use of the said Governor and Company, and at their Disposal only. XX. It shall be lawful for the Commissioners of Her Majesty's Appropriation Treasury to issue and apply from Time to Time all such Sums of of Money PayMoney as may be so paid into the Receipt of Her Majesty's ments. Exchequer by the said Cashier or Cashiers of the Governor and Company of the Bank of England as aforesaid in the Redemption of the Principal of Exchequer Bills charged on Aids or Supplies, and such Exchequer Bills so redeemed shall be delivered over to the Paymaster General to be cancelled, and also to apply such Moneys to such Services as have been or shall be voted by the Commons of the United Kingdom of Great Britain and Ireland, or to such Services as are now charged on the Consolidated Fund of the United Kingdom of Great Britain and Ireland, or shall be charged thereon by any Act that may be passed hereafter. XXI. All the Annuities after the Rate of Three Pounds per Centum per Annum to which any Person or Persons shall become entitled by virtue of this Act shall be added to the Joint Stock of Annuities transferable at the Bank of England into which the several Sums carrying an Interest after the Rate of Three Pounds per Centum per Annum were by several Acts made in the Twentyfifth, Twenty-eighth, Twenty-ninth, Thirty-second, and Thirtythird Years of the Reign of King George the Second, and by several subsequent Acts, consolidated, and shall be deemed Part of the said Joint Stock of Annuities; subject nevertheless to Redemption by Parliament in such Manner and upon such Notice as in the said Act made in the Twenty-fifth Year of the said Reign is directed in respect of the several and respective Annuities redeemable by virtue of the said Act; and all and every Person and Persons and Corporation whatsoever, in proportion to the Money to which he, she, or they shall become entitled as aforesaid by virtue of this Act, shall have and be deemed to have a proportional Interest and Share in the said Joint Stock of Annuities, at the Rates aforesaid. Three per Cent. to the Joint Three per XXII. If any Person shall forge or counterfeit, or cause or Punishment for procure to be forged or counterfeited, or shall willingly act or Forgery of assist in the forging or counterfeiting, any Receipt or Receipts for Receipts, &c. the whole or any Part or Parts of the said Subscription towards the said Sum of Three Millions, either with or without the Name or Names of any Person or Persons being inserted therein as the Subscriber or Subscribers thereto, or Payer or Payers thereof, or of Bank to con Exchequer Bills Funding. of any Part or Parts thereof, or shall alter any Number, Figure, or Word therein, or utter or publish as true any such false, forged, counterfeited, or altered Receipt or Receipts, with Intent to defraud the Governor and Company of the Bank of England, or any Body Politic or Corporate, or any Person or Persons whatsoever, every such Person or Persons so forging or counterfeiting, or causing or procuring to be forged or counterfeited, or willingly acting or assisting in the forging or counterfeiting, or altering, uttering, or publishing as aforesaid, being thereof convicted in due Form of Law, shall be adjudged guilty of Felony, and shall, at the Discretion of the Court, be liable to be transported beyond the Seas for Life or for any Term not less than Fourteen Years, or to be kept in Penal Servitude for Life or any Term not less than Four Years, or to be imprisoned, with or without Hard Labour, for any Term not exceeding Four Years nor less than Two Years. XXIII. The said Governor and Company of the Bank of Engtinue a Corpo- land, and their Successors, notwithstanding the Redemption of all ration. or any of their own Funds, in pursuance of the Acts for establishing the same, or any of them, shall continue a Corporation for the Purposes of this Act until the Annuities by this Act granted shall be redeemed by Parliament as aforesaid; and the said Governor and Company of the Bank of England, or any Member thereof, shall not incur any Disability for or by reason of their doing any Matter or Thing in pursuance of this Act. Penalty on Fees for General Issue. Provisions of 22 G. 3. c. 45. not to extend XXIV. No Fee, Reward, or Gratuity whatsoever shall be demanded or taken of any of Her Majesty's Subjects for receiving or paying the said Subscription in Exchequer Bills or any of them, or for any Receipt concerning the same, or for paying the said Annuities or any of them, or for any Transfer of any Sum, great or small, to be made in pursuance of this Act, upon pain that any Officer or Person offending by taking or demanding any such Fee, Reward, or Gratuity shall for every such Offence forfeit the Sum of Twenty Pounds to the Party aggrieved, with full Costs of Suit, to be recovered in any of Her Majesty's Courts of Law at Westminster. XXV. If any Person or Persons shall be sued, molested, or prosecuted for anything done by virtue or in pursuance of this Act, such Person or Persons shall and may plead the General Issue, and give this Act and the special Matter in Evidence in his, her, or their Defence or Defences; and if afterwards a Verdict shall pass for the Defendant or Defendants, or if the Plaintiff or Plaintiffs shall discontinue his, her, or their Action or Prosecution, or be nonsuited, or Judgment shall be given against him, her, or them, upon Demurrer or otherwise, then such Defendant or Defendants shall have Treble Costs awarded to him, her, or them against any such Plaintiff or Plaintiffs. XXVI. Provided, That none of the Provisions of an Act of the Twenty-second Year of His late Majesty King George the Third, Chapter Forty-five, shall be construed to extend to any under this Act. Subscriber or Contributor under this Act. to Subscribers С А Р. Annuities. CA P. VI. An Act for raising Five Millions by way of Annuities. W Most Gracious Sovereign, VE, Your Majesty's most dutiful and loyal Subjects, the Commons of the United Kingdom of Great Britain and • Ireland, in Parliament assembled, being desirous to raise the necessary Supplies which we have cheerfully granted to Your Majesty, have resolved that the Sum of Five Millions be raised by Annuities in manner herein-after mentioned;' and do therefore most humbly beseech Your Majesty that it may be enacted; and 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: entitled to I. Every Contributor towards raising the said Sum of Five Contributors Millions shall for every One hundred Pounds contributed and paid be entitled to the Principal Sum of One hundred and eleven Pounds Two Shillings and Twopence in Consolidated Annuities, after the Rate of Three Pounds per Centum, to commence and be payable as herein-after mentioned. 111. 2s. 2d. 3 per Cent. Consols for every 100l. contributed, &c. II.' And whereas, pursuant to and upon the Terms and Con- Contributors 'ditions expressed in the said Resolution, several Persons have, who have made in Books opened at the Bank of England for that Purpose, sub- Deposits to pay scribed together the whole of the said Sum of Five Millions to of Subscripbe raised by Annuities, and made Deposits of Ten Pounds per Centum on the respective Sums by them so subscribed to the ments. 'said Sum of Five Millions with the Cashiers of the Governor and Company of the Bank of England?' It shall and may be lawful to and for such Contributors who have made such Deposits with the Cashier or Cashiers of the Governor and Company of the Bank of England (which Cashier or Cashiers is and are hereby appointed the Receiver and Receivers of such Contributions, without any other Warrant to be had in that Behalf,) to advance and pay unto the said Cashier or Cashiers of the Governor and Company of the Bank of England the several Remainders of the Sums by them respectively subscribed towards the said Sum of Five Millions, on or before the respective Days and in the Proportions herein-after mentioned; (that is to say,) Ten Pounds per Centum on or before the Third Day of March One thousand eight hundred and fifty-six; Twentyfive Pounds per Centum on or before the Thirteenth Day of March One thousand eight hundred and fifty-six; Twenty-five Pounds per Centum on or before the Twenty-ninth Day of March One thousand eight hundred and fifty-six; Fifteen Pounds per Centum on or before the Tenth Day of April One thousand eight hundred and fifty-six; and the remaining Fifteen Pounds per Centum on or before the Twenty-fourth Day of April One thousand eight hundred and fifty-six. III. It the Remainder tions by Instal Annuities. Power to contribute for Dividends on Stock when to be payable. Time at which III. It shall be lawful for any Guardian or Trustee having the Disposition of the Money of any Infant to contribute and pay for or towards advancing the said Sum of Five Millions to be raised by Annuities in manner aforesaid; and such Infant, upon the Payment of such Sum or Sums subscribed by such Guardian or Trustee, shall become a Contributor within the Meaning of this 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 Contributor; and such Guardian or Trustee as to the said Sum or Sums so advanced is hereby discharged, so as the Name of such Infant be expressed in the Receipt or Receipts for such Money. IV. The several Contributors, their Executors, Administrators, Successors, and Assigns, in respect of the said Sum of Five Millions, shall be entitled, for every One hundred Pounds by them respectively advanced and paid, to an Annuity after the Rate of Three Pounds per Centum, in respect of the said Principal Sum of One hundred and eleven Pounds Two Shillings and Twopence, to commence from the Fifth Day of January One thousand eight hundred and fifty-six, until Redemption by Parliament in manner herein-after mentioned, which said Annuity shall be payable and paid half-yearly, by equal Portions, on the Fifth Day of July and the Fifth Day of January in every Year, the first half-yearly Payment of the said Annuity to be due on the Fifth Day of July One thousand eight hundred and fifty-six. V. As soon as any Contributors, their Executors, Administrators, Successors, or Assigns, shall, after Payment of the Deposit of Ten Pounds per Centum, have made Payment of any subsequent Instalment payable by them respectively on the Days specified in this Act towards the said Sum of Five Millions, such Contributors may have a proportional Amount of Stock in Consolidated Three Pounds per Centum Annuities, in respect of such Instalment, forthwith placed in the Books of the Bank of England to the Credit of such respective Contributors, their Executors, Administrators, Successors, or Assigns; and on Payment of the last Instalment such Contributors, their Executors, Administrators, Successors, or Assigns, shall have a proportional Amount of like Stock placed to their respective Credits, corresponding, at the Rate aforesaid, to the aggregate Amount of the Deposit and of such last Instalment; and the Persons to whose Credit such Consolidated Annuities, or such proportional Parts thereof, shall be so placed, their respective Executors, Administrators, Successors, and Assigns, shall and may have Power to assign and transfer the same, or any Part, Share, or Proportion thereof, to any other Person or Persons, Body or Bodies Politic or Corporate, whatsoever, in the Books of the Bank of England; and the said Governor and Company of the Bank of England are hereby required, as soon as conveniently may be after the passing of this Act, to prepare proper Books for the Purpose of entering the Names of all such Contributors, and of placing to their Credit the Principal Sums so paid by them respectively; and such Stock shall Annuities. i shall carry the Annuities after the Rate of Three Pounds per Instalments. VI. All such Contributors, their Executors, Administrators, Contributors Successors, or Assigns, who shall pay into the Hands of the said may make Cashier or Cashiers the whole of their respective Contribution Payments in Money, or any Part thereof, in anticipation of the said Instalments anticipation of or any of them, shall be entitled to have forthwith inscribed into their respective Names the whole or such proportional Amount of the said Three Pounds per Centum Annuities; but Discount shall not be allowed on any such Payment in anticipation of any of the said Instalments. VII. The Three per Centum Annuities aforesaid shall be Annuities payable and paid and be transferable at the Bank of England, payable and and shall be subject to such Redemption as is herein-after mentioned. transferable at the Bank. Fund of Annuities, &c. in respect of VIII. So much Money shall from Time to Time be set apart Payment out of and issued at the Receipt of the Exchequer, out of the Con- Consolidated solidated 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 5,000,000l.; and pay the said Annuities to be created in respect of the said Sum of Five Millions, together with the Charges attending the same. IX. The said Annuities, Interest, and Dividends which shall to be charged become payable in respect of the said Sum of Five Millions shall on said Fund. 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. General, and Annuities. X. For the more easy and sure Payment of the Annuities esta- The Bank to blished by this Act, the said Governor and Company of the Bank appoint a of England and their Successors shall from Time to Time, until Cashier and all the said Annuities shall be redeemed, appoint and employ One an Accountant or more sufficient Person or Persons within their Office in the the Treasury to City of London to be their Chief or First Cashier or Cashiers, order Money to and One or other sufficient Person within the same Office to be be issued to the their Accountant General; and so much of the Moneys by this Cashier for Act appropriated for the Purpose as shall be sufficient from Time Payment of to Time to answer the said Annuities and other Payments herein directed to be made out of the said Moneys, in respect of the said Sum of Five Millions, shall, by Order of the Commissioners of Her Majesty's Treasury, 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 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 Dividends 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, |