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XXXVII. And be it further enacted by the Authority afore. Officers of Exfaid, That the Auditor of the Receipt of His Majefty's Exche- chequer to keep quer for the Time being, and all Tellers, Receivers and Officers true Accounts of whatever, in the faid Receipt of Exchequer, fhall from Time to the Bank. Time for ever hereafter keep juft and true Accounts in a Book or Books fairly written, of all Monies coming to their and every of their Hands, which are or shall be appropriated belonging, due or owing to the said Governor and Company of the Bank of England, as the fame fhall from Time to Time come into the Receipt of Exchequer, or fhall come to their several Hands, either on account of the yearly Fund of one hundred thousand Pounds per Annum, payable to the faid Governor and Company by virtue of the said Act of Parliament for erecting the Bank, or on account of any parliamentary Funds; on the Credit of which the faid Governor and Company already have, or shall hereafter have lent or advanced any Sum of Money, or on account of the Principal Monies or Interefts due or to be due to the faid Governor and Company on any Tallies to them belonging, to which Books the faid Governor and Company, their Affigns, Agents and Servants, fhall have free Accefs from Time to Time, and at all feasonable Times, without any Fee or Reward to be paid for the Fee. fame, to infpect, fearch, examine, and copy out of the faid Books, as they fhall think fit; which faid Auditor of the Receipt fhall from Time to Time duly direct the faid Orders, and the Ĉlerk of the Pells fhall record the fame, and the Tellers in the Receipt of

the Exchequer fhall duly make Payment thereupon in their due Payments to be
Course without Delay, to the faid Governor and Company, their made in Course.
Agents, Servants and Affigns; and if any fuch Auditor, Teller,
Receiver or Officer of the Exchequer for the Time being, shall

either neglect or refufe to keep fuch Accounts, or to direct, Officer neglect-
record or make fuch Payments in due Courfe and Order as are ing, &c.
hereinbefore required, or fhall delay or put off the Payment
thereof, or divert or mifapply any of the Monies fo as aforefaid
or any otherwife due or belonging to the faid Governor and
Company, in fuch Cafe he or they fo offending refpectively, for
any fuch Offence fhall forfeit his or their Places, and be ever Penalty.
afterwards uncapable of enjoying any Office or Place of Truft
whatsoever, and alfo fhall be liable to pay double the Value of any
Sum or Sums fo delayed to be paid, or fo diverted or mifapplied
as aforefaid, to the faid Governor and Company, or to any Perfon
or Perfons grieved thereby, and who will fue for the fame, to be
recovered in any of His Majefty's Courts of Record in Weftmin-
fter, by any Action of Debt or on the Cafe, to be framed and
founded on this Act, or by Bill, Plaint or Information, wherein no
Protection, Wager of Law, Effoin, Privilege of Parliament, or
any other Privilege fhall be allowed, nor any more than one Im-
parlance.

"Duties arifing by Tunnage and Poundage, and other Duties " continued by this Act made one General Fund. § 38. Money "arifing before 28th June 1698, of Duties on Houses and on "Merchandizes, to pay the Intereft on particular Loans. § 39, "40. Overplus to be applied towards Payment of Principal. 41. "Money arifing after 28th June 1698, of the General Fund, to "be applied towards Payment of Principal and Intereft of the "deficient Funds. § 42, Monies to be paid to Perfons intitled. * §43.

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In what cafe yewly Paymeets, &c.

to be vested in 24 Trutees

cked by Govermor, &c. for 3 Years

Treffees to receive and pay Debis,&o.

543. $44.

New Duties to be applied in aid of former Duties.

XLV. And to the Intent that all Perfons, concerned with the Governor and Company of the Bank of England, may be fecured in their refpective Debts and Effects, in cafe any Forfeiture fhould be committed, or any Judgment of Forfeiture or Seizure of the faid Corporation fhould be given for, or by reason of, or under any Pretence of any Forfeiture whatsoevér: Be it enacted, That immediately upon fuch Judgment given, all and every the Funds, yearly Payments, and Monies payable out of the Exchequer to the Governor and Company of the Bank of England, or which fhould have become due and payable to them, in cafe no fuch Judgment had been given, and also all and every the Eflate, Goods, Debts and Chattels due, belonging or owing to the faid Governor and Company at the Time of fuch Judgment, fhall be and are hereby (in fuch Cafe) actually vefted and fettled in four and twenty fuch Perfons as fhall be for that Purpose elected and chofen by the Governor and Company of the Bank of England, in a general Court affembled before fuch Judgment given, during the Space of three Years, which faid Perfons fo elected, and the Survivors of them, during the faid three Years, shall be Fruitees for the Purpofes aforefaid, and fhall and may receive, fue for, and recover the Money, Debts and Eftates of the faid Corporation, or which would have belonged to the faid Governor and Company, in cafe no fuch Judgment had been given, and with the Monies and Eftate fo received and recovered, fhall pay and difcharge all the Debts due and Owing by the said Corporation at the Time of fuch Judgment given, and perform and fulfil fuch Covenants and Contracts as the faid Corporation at the Time of fuch Judgment given had entred into, and were bound and obliged to perform; and after the faid three Years, or after the Debts and Eitate fo got in, paid and applied, then that the Surplus, if any there fhall be, fhall be paid and divided amongst fuch Perfons as were Members of the faid Corporation at the Time of fuch Judgment given, according to their feveral Shares Yearly Pay- and Proportions; and alfo that the yearly Sums afterwards payable ments payable at the Receipt of Exchequer to the faid Corporation, shall be quarterly, and to vefted in, and payable quarterly to fuch Perfon and Perfons, their Executors, Adminiftrators and Affigns, as were Members of the faid Corporation at the Time of fuch Judgment refpectively, according to their feveral Shares and Proportions in the said Stock and Company, to be afcertained and fpecified in a Lift to be returned or given in by the faid Trustees, or the Survivors of them, under their Hands and Seals, into the Office of the Auditor of the Receipt, and which faid feveral yearly Payments fo fpecified, fhall be from Time to Time transferable and affignable by an Entry in a Book to be kept in the Office of the Auditor of the Receipt for that Purpofe, without any Fee or Reward whatso ever; and that all the Monics due upon the faid Funds, or payable in the faid Receipt as aforefaid, fhall be from Time to Time to be paid to the paid and applied to the faid Trustees to be elected as aforefaid, Truftecs, during the faid three Years, and afterwards to the faid feveral and refpective Perfons, their Executors, Administrators and Affigns, and not ay ways diverted or mifapplied, under the like Penalties, Forfeitures and Difabilities, as are given or imposed by

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be transferable without Fee.

Monies due to the faid Funds

any

any A&t or A&s of Parliament now in Force again any Perfon and not irilipor Perfons for diverting or mifapplying any Monies payable to plied. any Perfon by the faid Acts of Parliament, or any of them.

XLVI. Provided, That for the Encouragement of the faid Company may Corporation to lend Monies upon Lands or Tenements, and for tranfcribe Difcovery of Incumbrances thereon; Be it enacted, That it fhall Dockets of Erand may be lawful for the faid Governor and Company, or any tha tents, &c. paying Officer or Clerk to be employed by them, from Time to Time, to copy and tranfcribe the Dockets and Notes of any Extents, Judgments, Statutes or Recognizances, kept in any of the Offices of the feveral Courts of Record at Weftminster, paying to the Mafters or Clerks of the feveral Offices the ufual Rates and Fees for Search only of fuch Extents, Judgments, Statutes or Recognizances.

XLVII. And be it enacted, That no Member of the faid Bankrupt. Corporation fhall be, or be adjudged liable to be a Bankrupt, within the Intent and Meaning of all or any the Statutes made against or concerning Bankrupts, for or by reafon of their Stock or Interest in the faid Corporation, and that no Stock in the faid Corporation fhall be fubject or liable to any foreign At- Foreign Attachtachment by the Cuftom of London, or otherwife.

XEVIII. And be it further enacted by the Authority aforefaid, That the Monies which from Time to Time fhall become due and payable by virtue of any Tally or Order, fubfcribed as aforefaid into the Capital Stock of the faid Governor and Company by virtue of this Act, as foon as conveniently may be after the fame thall be received out of the Exchequer, or any public Office, by the faid Governor and Company, their Offcers, Servants and Agents, and at fartheft once in every four Months (a), fhall be divided by the faid Governor and Company amongst the Members of the whole Corporation, rateably and in Proportion to their feveral and refpective Parts, Shares and Interefts in the faid Capital Stock, for the particular, proper and only Ufe and Behoof of the faid Members feparately, and in their private and perfonal Capacities; any Thing in this Act, or in the aforefaid Act for granting the faid Rates and Duties upon Tunnage of Ships, and for erecting of the faid Bank, or in the Charter of Incorporation granted to the faid Governor and Company, bearing Date at Weminfter the feven and twentieth Day of July One thoufand fix hundred ninety four, or any Rule, Order, Ufage, Cuftom, A&t, Statute or Law whatfoever, to the contrary thereof in any wife notwithstanding. Months, 9 & 10 W. 3. c. 3. §4.]

(a) [Six

meat

Money due on Tallies,&c. chen to be divided.

XLIX. Provided always, and be it enacted, That the faid Debts of Bank Governor and Company, and their Succeffors, fhall always take not to exceed Value of Capital. care that the Sum total of all their Debts which they hall Owe at any one Time to any other Perfon or Perfons, Bodies Politick or Corporate, do not exceed the Value of the Capital Stock, which at any Time fhall be and remain to the faid Governor and Company undivided; and that in cafe the faid Governor and Company leffenCompany, or their Succeffors, by virtue or colour of the Power ing their Stock hereby given to them of dividing the Monies coming in by their by Dividends. Tallies and Orders as aforefaid, or by any other Dividend whatfoever to be made amongst themselves, or in their private or perfonal Capacities, fhall reduce or leffen their Joint Stock, or Capi

tal, without limiting, paying off, or proportionably reducing the total Sum of the faid Debts, which they fhall owe to others, as aforefaid, so that the Value of their Joint Stock, or Capital undivided, fhall not be fufficient to answer their juft Debts then remaining unpaid; in every fuch Cafe the particular Members and every of them refpectively, who in their private or perfonal Capacities fhall receive any Share of fuch Dividend, fhall be feveLiability of par- rally liable, and they are hereby nade liable, fo far as the reticular Members. fpective Shares fo by them refpectively received upon fuch Dividend will extend, to pay and fatisfy the Debts, which shall remain due and unpaid by the faid Governor and Company, to any other Persons, or Bodies Politick or Corporate, as aforefaid, who by virtue of this Act shall and may fue for and recover the fame (befides Treble Cofts of Suit) by Action of Debt, or of the Cafe, as is before mentioned; any Thing in this Act, or in former Act, Charter, or otherwise howfoever, to the contrary notwithstanding.

Treble Cofts.

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any

L. And to obviate all Doubts for the future concerning the Securities by this Act intended for the Payment of the Principal and Intereft Monies to be paid as aforefaid; Be it further enacted by the Authority aforefaid, That in cafe at the End of one Year, to be reckoned from the utmost Day or Time by this Act limited for taking of the faid Subfcriptions for augmenting the faid Capital Stock of the Bank of England, it fhall appear that the Funds or Duties by this Act appropriated to and for the Payment of Intereft Monies (as well to the faid Governor and Company of the Bank of England, as to any other Perfons or Corpora tions) fhall not be fufficient to fatisfy and difcharge all the Intereft Monies, which before the End of the faid one Year fhall be incurred, grown due or ought to be paid, of, for or upon the refpective Tallies and Orders before mentioned, and every of them, that then the Deficiency thereof (to wit) fo much as will fuffice to make up and compleat the Intereft Monies which shall be grown due before the End of the faid one Year, as aforefaid, fhall be fupplied and paid out of fuch Aids or Revenues as fhall be granted to His Majefty, His Heirs or Succeffors, in the Seffion of Parliament then next enfuing, and fo in like Manner in cafe of Deficiency of Intereft in any fucceeding Year; and in cafe upon the first Day of August, which fhall be in the Year of our Lord One thousand feven hundred and fix, or within three Months then next enfuing, it shall appear, that the whole Produce of the feveral Aids, Revenues and Funds, by this A& granted or appropriated, together with the Monies which fhall have arifen by the Grants now in being, and before this Time made, for the Payment of the Principal Monies of the faid Tallies and Orders, and the Intereft thereof, fhall not be fufficient to discharge and pay off, as well all the Principal Monies upon all the faid Tallies and Orders, for the Payment whereof Provision is intended to be made by this Act, and all the Interest Monies that are or thall be due or payable for the fame, that then the Deficiency thereof, to wit, so much as will be needful compleatly to make up, fatisfy and difcharge all the faid Principal and Intereft Monies which fhall appear, on the faid firft Day of Auguft One thousand seven hundred and fix, or within three Months then next enfuing, to remain due and unpaid, fhall be

fupplied

fupplied and paid out of fuch Aids or Revenue as fhall be granted to His Majefty, His Heirs and Succeffors, in the Seffion of Parliament which fhall be next after the said first Day of August One thousand seven hundred and fix.

"Prefent Governor and Directors to continue in Office till "24 June 1697. Afterwards a General Court to be held for elect"ing a new Governor, Deputy Governor, and twenty four Direc"tors. $51.

Directors.

LII. And be it further enacted, That in all future Elections Regulation for of Directors there fhall not be chofen above two thirds of thofe Elections of who were Directors the preceding Year; any Thing in the faid Charter, or any Law, Statute or Ordinance, to the contrary notwithstanding.

"Additional Duty on Salt for one Year. 53. EXP. To "be levied as directed by former Acts. § 54. Security for Duties "to be difcharged on Exportation. 55. To be applied to "fame Purposes as General Fund. § 56. No Tally to be taken "at more than lawful Intereft for five Years. § 57. EXP.

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66

No

Affignment of Tally to be good unless made in Writing, and figned by the Party, or the Common Seal of a Corporation, "&c. and regiftred in ten Days after figning, and Oath. Offi"cers in the Exchequer and Poft Office to attend daily for regif. is tring Affignments, and adminiftring Oaths. § 58, 59. [Sect.58. repealed, 11 & 12 WV. 3. c. 3. § 14.]

Brokers, &c.
taking above
2s. 6d. per Cent.
for Brokage, &c,

LX. And be it enacted by the Authority aforefaid, That all and every Perfon and Perfons, who fhall be employed as a Broker or Brokers, Solicitor or Solicitors, or otherwife, in the Behalf of any other Perfon or Perfons, to make or drive any Bargain or Contract for the buying or felling of any of the faid Orders or Tallies, who fhall, after the faid tenth Day of June One thousand fix hundred ninety feven, take or receive, directly or indirectly, any Sum or Sums of Money, or other Reward or Thing, for Broakidge, foliciting, driving, procuring or making fuch Contract or Bargain, over and above the Sum of two Shillings and Six pence for the Broakidge, foliciting, driving or procuring fuch Contract or Bargain for one hundred Pounds, and fo rateably for a greater or leffer Sum, fhall forfeit for every fuch Offence twenty Pounds, to fuch Perfon or Perfons as will fue for the Penalty. fame, by Action of Debt, or of the Cafe as aforefaid; and if any Broker, Solicitor or Driver of any Bargain or Contract, for any fuch Tallies or Orders, as aforefaid, fhall, after the faid tenth Day of June One thousand fix hundred ninety feven, drive or make any fuch Bargain or Contract for any Tally or Order, or any Money due thereupon, in which Contract or Bargain there fhall be any Premium or Allowance made, or agreed to be made contrary to this A&t, then he or they fo offending, fhall, for every fuch Offence, forfeit the Sum of five hundred Pounds, to wit, Penalty. one third Part thereof to the King, and the other two thirds thereof to fuch Perfon or Perfons who will fue for the fame, to be recovered as aforefaid; and that every fuch Broker, Solicitor or Dryer of fuch Bargain, who fhall be guilty of fuch Offence, and be thereof convicted, fhall be deemed, and is hereby adjudged

to be a common Extortioner, and fhall fuffer fuch further Pains Common Extor

tion.

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