the several Payments herein-before provided for the Interest, Sinking Fund, and Charges of Management thereof respectively, shall wholly cease and determine, and the said United Company shall be wholly a acquitted from all future Demands in respect thereof.
In Case of Failure of Payment by the Company, how to be recovered.X. And be it further enacted. That in case the said United Company or their Successors shall make Failure in any of the Payments hereby required and appointed to be made into the Hands of Governor and Company of the Bank of England, on or before the respective Days or Times herein-before limited, that then, and from Time to Time as often as such Case shall so happen, the Money whereof such Failure in Paym ent shall be made, shall and may be recovered to His Majesty's Use by Action of Debt, or upon the Case, Bill, Suit, or Information in any of His Majesty's Courts of Record at Westminster, wherein no Essoign, Protection, Privilege, or Wager of Law shall be allowed, or any more than one Imparlance; in which Action, Bill, Suit, or Information, it shall be lawful to declare that the said United Company or their Successors are indebted to His Majesty in the Monies in which they have made Default in Payment, according to the Form of the Statute, and have not paid the same, which shall be sufficient; and in or upon such Action, Bill, Suit, or Information, there shall be further recovered to His Majesty's Use, against the said United Company or their Successors, Damages after the Rate of Fifteen Pounds per Centum per Annum, for the respective Monies so unpaid contrary to this Act, with full Costs of Suit; and the said United Company and their Successors, and all their Stock and Funds, and all other their Estates and Property whatsoever and wheresoever, shall be and are hereby made subject and liable to the Payment of such Monies, Damages, and Costs.
Payments to be a Charge on the territorial Acquistions in the East Indies.XI. And be it further enacted. That the several Sums of Money payable or to be paid for the Interest, Sinking Fund, and Charges of Management, of the said several Sums of Three millions Reduced Three Pounds per Centum Annuities, and One million four hundred thousand Pounds Consolidated Three Pounds per Centum Annuities, shall be and be deemed and considered to be a Charge upon the Revenues of the Territorial Acquisitions in the East Indies, in like Manner as if the Interest payable in respect of the Indian Debts which have been or may be discharged by Means of the said principal Sum of Two millions five hundred thousand Pounds had remained payable in the East Indies; and it shall and may be lawful to and for the said United Company to cause Funds for the Payment of such Interest, Sinking Fund and Charges of Management, and all Sums of Money which they shall have become liable to pay in respect thereof, to be appropriated and provided out of the Indian Revenues, and to be remitted to England in the same Order of Preference in which the Interest on such Debts so discharged would have been payable if they had remained due and owing in the East Indies; any Law, Usage, or Statute to the contrary thereof in anywise notwithstanding.
Exempting the Payments paid into the Bank from Property Duty.XII. And be it further enacted, That the Property Tax in respect of the Sums therein-before, directed or authorized to be paid into the Bank of England by the said United Company, shall not be paid or borne by the said United Company, and the same Sums of Money shall be paid by the said United Company without any Deduction or Abatement whatsoever in respect of the Property Tax or otherwise howsoever; but such Property Tax shall be deducted from the Dividends payable in respect of such Sums of Money, in such Manner as the Property Tax in respect of any other Part of the Reduced Three Pounds per Centum Bank Annuities and Consolidated Three Pounds per Centum Bank Annuities is or ought to be be deducted and paid.
52 GEORGII III. Cap. CXL.
An Act to permit the Exportation of certain Articles to the Isle of Man from Great Britain.
