ed to 25

fuch certificates and affignments thereupon fhall not be chargeable with any stamp duties, any law or ftatute to the contrary notwithstanding.

VII. And be it further enacted by the authority aforesaid, Intereft of the That the intereft of fuch of the said bills and debentures, by this bills, &c. carrying intereft, act intended to be delivered up (as carry intereft) fhall be comto be comput-puted to the faid twenty fifth day of March, one thousand seven hundred and forty nine, and fhall be added to the principal fum March, 1749 contained in every fuch bill or debenture, and fo much as fuch principal and intereft computed as aforefaid fhall amount unto, fhall be the principal fum for which the perfon or perfons delivering the fame fhall be intitled to an annuity after the faid rate of four pounds per centum per annum, until redemption thereof, in manner hereafter mentioned.

and to be added to the

principal.

Guardians

be intitled to, &c.

VIII. Provided alfo, and be it further enacted by the autho may deliver rity aforefaid, That if any infants fhall by the gift, devise, or up fuch bills decease of the parent or other relation of fuch infants, or otheror debentures wife become intitled to any of the faid bills or debentures intendas infants fhall ed to be provided for by this act, in fuch cafe the guardian or guardians, trustee or trustees, of fuch infant or infants, shall or may be, and they are hereby impowered, for the benefit of fuch infant or infants, to deliver up to such respective treasurers, all fuch of the faid bills or debentures, to which fuch infant or infants shall be so intitled, and fuch infant and infants, guardian or guardians, trustee or trustees, delivering up fuch bills or debentures, shall be intitled to an annuity or annuities, after the faid rate of four pounds per centum per annum, in respect of the principal fums contained in fuch bill or bills, debenture or debentures fo to be delivered up, together with the intereft thereupon, computed to the faid twenty fifth day of March, one thousand seven hundred and forty nine, to be paid out of the monies by this act appropriated for that purpofe; and the faid guardian or guardians, trustee or trustees, fhall be discharged from the fame, any thing herein contained, or any law, ufage, or cuftom, to the contrary in any wife notwithstanding.

Executors and trustees of ideots, &c. may deliver up

fuch bills as they fhall be poffeffed of, &c.

IX. Provided alfo, and be it further enacted by the authority aforefaid, That any perfon or perfons who as executor to, or administrator, trustee, committee of an ideot, or lunatick, or perfons of unfound mind, depofitary or mortgagee, fhall be or become poffeffed of, interested in, or intitled unto any of the said bills or debentures intended to be provided for by this act, fhall and may deliver up fuch bills or debentures as they fhall be fo pofseffed of, interested in, or intitled unto, to fuch refpective treasurers as aforefaid; and as to executors or administrators, the annuities after the faid rate of four pounds per centum per annum, which they fhall be intitled to in refpect of the principal fums contained in fuch bills or debentures fo by them delivered up, together with the interest thereupon, computed to the faid twenty fifth day of March, one thousand feven hundred and forty nine, as aforefaid, fhall be the fame affets in their hands, as the faid bills or debentures were or would have been, had they not been

fo

fo delivered up for fuch annuity as aforefaid; and as to trustees, committees, depofitaries and mortgagees, the annuity which they shall be intitled unto, for or in refpect of such truft, or mortgaged bills or debentures, which they fhall fo deliver up to fuch refpective treasurers as aforefaid, fhall be fubject and liable to the fame trufts and equity of redemption, as fuch bills or debentures were or would have been, had they not been fo delivered up for fuch annuity as aforefaid.

X. And be it further enacted by the authority aforefaid, The bank to That it fhall and may be lawful to and for the faid governor receive the and company of the bank of England, and their fucceffors, or certificates, fuch perfon or perfons as they hall appoint for that purpose, dit for the and give cre and he and they are hereby respectively authorized and requir- principal ed to take in and receive all and every the certificates, to be fums. made out in lieu of the faid bills and debentures, by the refpective treasurers of his Majefty's navy and ordnance as aforefaid, in pursuance of the directions of this act; and upon the receipt of every fuch certificate fhall, and they are hereby required forthwith to give credit in a book or books to be prepared for that purpose, for the principal fums contained in every fuch certificate fo brought to them as aforefaid; and the perfon to whofe credit fuch principal fums fhall be entered in the faid book or books, his, her, or their executors, administrators, or affigns, fhall and may have power to affign and transfer the fame, or any part, fhare, or proportion thereof, to any other person or perfons, bodies politick or corporate whatsoever, in other books to be prepared and kept for that purpofe; and the principal fums fo affigned and transferred, fhall carry the faid annuity of four pounds per centum per annum, and shall be taken and deemed to be stock transferrable by this act, according to the powers and authorities herein after mentioned, until redemption thereof as aforefaid; and the faid governor and company for the Bank to tranftime being fhall alfo, on or before the twenty fourth day of June, mit a copy to one thousand seven hundred and fifty, transmit an attefted du- the excheqner. plicate, fairly written on paper, of the faid book or books, first herein after mentioned, into the office of the auditor of the receipt of his Majesty's exchequer, there to remain for ever.

XI. And for the more eafy and fure payment of the several annuities by this act made payable as aforefaid, amounting in the whole to the fum of three millions, two hundred thirty thoufand three hundred eighty two pounds, five fhillings, and one penny, it is hereby further enacted by the authority aforesaid, That the faid governor and company of the bank of England, The bank to and their fucceffors, fhall from time to time, until the faid an- employ a canuitics after the rate of four pounds per centum per annum, fhall thier and acbe redeemed according to this act, appoint and employ one or comptant ge more fufficient perfons within their office in the city of London, to be their chief or first cashier or cashiers, and one other fufficient perfon within the fame office, to be their accomptant general; and that fo much of the monies, from time to time, arifing into the faid receipt of the exchequer, of or for the faid fur6

neral;

Treafury to pluffes, nies appropris

order the mo

ated for the

annuities, to be paid by way of imprest.

pluffes, exceffes, or overplus monies, by this act appropriated for this purpose, as fhall be fufficient from time to time, to answer the faid annuities, and other payments directed to be made or difcharged out of the fame, fhall, by order of the commiffioners of the treasury, or any three or more of them now being, or the high treasurer, or commiffioners of the treafury of his Majefty, his heirs or fucceffors for the time being, without any further or other warrant to be fued for, had, or obtained in that behalf, from time to time, at the refpective half yearly feaft days, or days of payment, in this act before appointed for payment thereof, be iffued and paid at the faid receipt of exchequer, to the faid first or chief cashier or cashiers of the faid governor and company of the bank of England, and their fucceffors for the time being, by way of impreft, and upon account, for the payment of the faid annuities made payable by this act as aforesaid, at fuch times, and in fuch manner and form, as are by this act prescribed in that behalf; and that all and every such cashier Cashier to pay or cashiers, to whom the faid monies fhall, from time to time, the annuities, be iffued, fhall, from time to time, without delay, apply and pay and give an the fame accordingly, and render his account thereof according to the due courfe of the exchequer; any thing herein contained to the contrary notwithstanding.

account to the

exchequer.

Accomptant general to inIpect the receipts and payments.

Annuities to be a joint ftock..

XII. And it is hereby alfo enacted, That the faid accomptant general for the time being fhall, from time to time, infpect and examine all receipts and payments of the faid cashier or cashiers, and the vouchers relating thereunto, in order to prevent any frauds, negligence, or delay; and that all and every perfon and perfons whatsoever, who fhall be intitled to any of the faid annuities, after the faid rate of four pounds per centum per annum, and all perfons lawfully claiming under them, fhall be poffeffed thereof as of a perfonal eftate, and the fame fhall not be defcendible to the heir, and fhall not be liable to any foreign attachment by the cuttom of London, or otherwife; any law, ftatute, or custom to the contrary notwithstanding.

XIII. And be it further enacted by the authority aforefaid. That all the monies intended to be converted into annuities by virtue of this act, fhall be deemed, reputed, and taken to be one capital or joint stock, on which the faid annuities, after the faid rate of four pounds per centum per annum, fhall be attending; and that all and every perfon and perfons, and corporations whatfoever, in proportion to the money which he, the, or they fhall be intitled to as aforefaid, fhall have, and be deemed to have a proportional intereft and fhare in the faid ftock, and in the annuity attending the fame, at the rate aforefaid; and Shares to be that the faid whole capital or joint ftock, or any share or interest transferred. therein, and the proportional annuity attending the fame, fhall be affignable and transferrable as this act directs, and not otherwife; and that there fhall conftantly be kept, at all seasonable times, in the office of the faid accomptant general for the time being, within the city of London, a book or books, wherein all affignments or transfers of the faid whole capital or joint stock

or

or any part thereof, and the proportional annuity attending the fame, at the rate aforefaid, fhall be entered and registered; which Method of entries fhall be conceived in proper words for that purpose, and transferring. fhall be figned by the parties making fuch affignments or transfers; or if fuch party be abfent, by his, her, or their attorney or attornies thereunto lawfully authorized, by writing under his, her, or their hands and feals, to be attefted by two or more credible witneffes; and that the perfon or perfons to whom fuch transfer fhall be made, do underwrite his, her, or their acceptance thereof; and that no other method of aligning or transferring the faid stock, and the annuities attending the fame, or any part thereof, or any intereft therein, fhall be good and available in law; and that no itamp duties whatfoever thall be charged on the faid transfers, or any of them; any other law or ftatute to the contrary notwithstanding.

XIV. Provided always, and it is hereby further enacted by The bank to the authority aforefaid, That the faid governor and company continue a of the bank of England, and their fucceffors, (notwithstanding till the annuicorporation the redemption of all or any their own funds, in purfuance of ties be rethe acts for establishing the fame, or any of them) fhall conti- deemed. nue a corporation with all the powers, privileges, and advantages thereunto belonging, for the purposes in this act expreffed, till all the annuities to be purchased under this act fhall be redeemed by parliament, according to the provifo herein after contained in that behalf; and the faid governor and company, or any members thereof, fhall not incur any disability for or by reafon of their doing any matter or thing in pursuance of this

act.

certificates, or

XV. And it is hereby enacted by the authority aforefaid, No fee fer reThat no fee or gratuity whatsoever thall be demanded or taken ceiving the for receiving or taking in the faid bills or debentures, or any of bills, granting them, or for granting certificates in lieu thereof as aforefaid, or for any tranf for iffuing the monies for paying the faid annuities, or any them; and that no fee or gratuity shall be demanded or taken for any transfer of any fum, great or fmall, to be made in pursuance of this act, upon pain that any officer or person offending, by taking or demanding any fee or gratuity contrary to this act, fhall forfeit the fum of twenty pounds to the party grieved, to be recovered with full cofts of fuit, in any of his Majefty's courts of record at Westminster.

Penalty zol.

XVÍ. Provided always, and be it enacted by the authority Treasury to aforefaid, That the commiffioners of the treafury, or any three rewardperfons or more of them now being, or the high treafurer, or any the execution employed in three or more of the commiffioners of the treafury for the time of this act, being, fhall have power, and they are hereby authorized to re- &c. ward all fuch perfons as fhall be any ways employed in the execution of this act, for their fervice, pains, and labour; and alfo to defray fuch incident charges as fhall neceffarily attend the fame, out of the faid furpluffes, exceffes, or overplus monies and also to appoint fuch allowances (out of the faid furpluffes, exceffes, or overplus monies) for the fervice, pains, and labour

of

of the cafhier or cashiers of the faid governor and company of the bank of England, for receiving, paying, and accounting for the faid annuities made payable by this act, and alfo for the service, pains, and trouble of the accomptant general of the faid governor and company, for performing the duty and trust incumbent on him by this act, as they fhall think just and reasonAllowances able; all which allowances hereby impowered to be made as made to the aforefaid, in refpect to the service, pains, and labour of any ofofficers of the ficer or officers of the faid governor and company of the bank bank, to be at the difpofal of of England, fhall be for the use and benefit of the faid governor the company and company, and at their difpofal only; any thing herein contained to the contrary notwithstanding.

demption.

XVII. Provided also, and it is hereby enacted by the authoClaufe of re- rity aforefaid, That at any time upon one year's notice, to be printed in the London Gazette, and affixed upon the Royal Exchange of London, by authority of parliament, at any of the half yearly feast days for payment of the fame annuities; and upon repayment by parliament of the principal fum of three millions, two hundred thirty thousand three hundred eighty two pounds, five fhillings, and one penny (by payments not being less than five hundred thousand pounds at a time) for which the said annuities are payable to fuch respective persons or corporations as fhall be intitled to the fame annuities; and also upon full payment of all arrearages of the fame annuities, then, and not till then, the faid refpective annuities, or a proportional part thereof, fhall cease and determine, and be understood to be redeemed; and from and after fuch redemption, the monies arising from the faid furpluffes, exceffes, and overplus monies, by this act granted as aforefaid, fhall not be issued or applied to any ufe or purpose, but as shall be directed by any future act or acts of parliament; any thing in this or any former act or acts of parliament to the contrary notwithstanding; and that any vote or refolution of the houfe of commons, fignified by the speaker in writing, to be inferted in the London Gazette, and affixed at the Royal Exchange of London as aforesaid, fhall be deemed and adjudged to be fufficient notice within the words and meaning of this act.

XVIII. And be it further enacted by the authority aforefaid, That if any person or persons thall at any time or times be fued, molefted, or profecuted for any thing done by virtue or in purfuance of this act, or of any the claufes therein contained, fuch perfon or perfons fhall and may plead the general iffue, and give General iffue. this act, and the fpecial matter in evidence for his and their defence; and if afterwards a verdict fhall pafs for the defendant or defendants, or the plaintiff or plaintiffs fhall discontinue his or their action, or be nonfuited, or judgment fhall be given aTreble cofts. gainst him or them upon demurrer, or otherwife, then fuch defendant or defendants fhall have treble cofts to him or them awarded against fuch plaintiff or plaintiffs.

CAP.