A. D. 1708. Anno feptimo Ann^e Reginaj. C. 7. 343 faid Governor and Company of the Bank of ^K^/i^/zi/, Damages after the Rate of twelve Pounds /ii?r Cf;z- and pay Damages turn, for the Monies fo unpaid contrary to this A&, befides full Colls of Suit; and the faid Governor and at the Rate of Company of the Bank of ^/z^/flW, and their SuccelTors, and their faid Stock and Funds, fhall be and are '- '• P" Cent, hereby made fubjeft and liable thereunto. V. And for the Encouragement of the faid Governor and Company of the Bank of England to advance and pay the faid Sum of four hundred thoufand Pounds, with fuch Diicount out of the fame, as aforefaiJ, and to perform the other Services in this Aft mentioned, and to the End the faid Governor and Company and their SuccelTors, may have a competent Recompence and Confideration for fo doing, it is hereby de- clared and enafted by the Authoriey aforefaid. That the faid feveral and refpeftive Provifocs or Condi- Provides in 5W. tions contained in the faid recited ASt of the fifth Year of the Reign of :heir faid late Majefties King ^ '^- "=• 20. and William and Qiieen Mary, and in the faid KQ. of the eighth Year of the Reign of his faid late Majefty f^^^^l" ".• ^°' King William, and each of them, for determining the faid Fund of one hundred thoufand Pounds ^(;r j^e yelTwFund Annum, and the faid Corporation of the Governor and Company of the Bank of England, upon the refpeftive and Corporation, Notices and Payments in the fame refpecflive AiEts mentioned, fhall be, and are hereby repealed and made repealed. void ; and that the laid Governor and Company of the Bank of England, fo enlarged as aforefaid, and privileges of the their Succeffors, forever, fhall remain, continue, and be one Body Corporate and Politick, by the Name Baak conffrmed! aforefaid, and fhall for ever have, receive, and enjoy the faid entire yearly Fund of one hundred thoufand Pounds out of the faid Rates and Duties of Excife, together with a perpetual Succeffion, and all Abilities, Capacities, Powers, Authorities, Franchifes, Exemptions, Privileges, Profits, and Advantages whatfoever whereunto the Governor and Company of the Bank oi England are, or before the making of this Act, were intitled by the faid A6t of the fifth Year of the Reign of their faid late MajelHes King William and s^. &M,c. 20. ■ Queen Mary, and by the faid Aft of the eighth Year of the Reign of his faid late Majefly King William ^^9 w.. j. or either of them, or by any other Aft or Afts of Parliament, Grants, or Charters whatfoever, now in Force j"^' ^°* all which areby this Aft ratified and confirmed to the faid Governor and Company fo enlarged, and their Suc- ceffors (the faid Allowance after the Rate of four Pounds ten Shillings per Centvm per Annum, for circu- lating of Exchequer Bills, and the Powers only concerning fuch Circulation, given by the faid Aft of the fifth Year of her now Majelty's Reign, excepted) freed and difcharged of and from the faid Provifoes and Conditions of Redemption hereby repealed, or intended to be repealed, as aforefaid, and all other Pro- vifoes, Powers, Aft, Matters, and Things whatfoever heretofore had, made, done, or committed, for redeeming, determining, or making void the faid Corporation or yearly Fund of one hundred thoufand Pounds, and the faid Abilities, Capacities, Powers, Authorities, Franchifes, Exemptions, Privileges, Pro- fits, and Advantages, or any of them; fubjeft neverthelefs to fuch Reftriftions. Rules, and Dire£l:ions, and alfo to fuch other Agreements, Matters and Things, as in the faid Afts and Charters, or any of them now in Force, are contained or prefcribed ; and alfo fubjeft to the Power and Condition of Redemption) hereafter in this Aft contained in this Behalf. VI. Provided always, and it is hereby further enafted by the Authority aforefaid, That at any Time On ii'Mcmiljs; upon twelve Months Notice, after the firfl: Day of Auguft, which fhall be in the Year of our Lord one Notice after thoufand feven hundred and thirty-two, and not before, and upon Repayment by Parliament to the faid ' ^"^"J^*' CJovernor and Company of the Bank of E?igland, or their Succeffors, as well of the faid Sum of one m-]- ment°"&c.TeIr"ly lion two hundred thoufand Pounds formerly advanced, as of the Sum of four hundred thoufand Pounds Fund' to ceafe. before-mentioned, amounting in the whole to the Sum of fixteen hundred thoufand Pounds, without any Deduftion, Difcount, or Abatement whatfoever, to be made out of the faid Sum of fixteen hundred thou- fand Pounds, or any Part thereof; and upon Payment to the faid Governor and Company, and their Suc- ceffors, of all Arrears of the faid one hundred thoufand Pounds per Annum, and all the Principal and In- tereft Money, which fhall be owing unto them upon all fuch Tallies, Exchequer Orders, or Parliamentary Repealed by Funds, which the faid Governor and Company, or their Succeffors, fhall have remaining in their Hands, "■Ann^, ftat.r. or be entitled to at the Time of fuch Notice to be given, as aforefaid, (fuch Funds for Redemption whereof f^j.',J^j. '^'^'^^^ ether Provifion is afterwards made, in and by this Aft, only excepted) then and in fuch Cafe, and not r,ons relaiing" till then, the faid yearly Fund of one hundred thoufand Pounds fhall ceafe and determine. hereto, VII. And be it further enafted by the Authority aforefaid, That from and after fuch Repayment by Parliament, of the faid fixteen hundred thoufand Pounds, and Payment of all Arrears of the fiiid one hun- dred thoufand Pounds ^^r yf«««OT, and of all the Principal and Intereft on fuch Tallies, Exchequer Or- ders, and Parliamentary Funds aforefaid, fhall be made to the Governor and Company of the Bank of England, and alfo Redemption fhall be made by Parliament of the Annuity of one hundred and fix thou- fand five hundred and one Pounds thirteen Shillings and five Pence />«r Annum, hereafter in this Aft fet- tled and made payable to the faid Governor and Company, and their Succeffors, in Manner and Form herein after mentioned, and likewife from and after all the Exchequer Bills, which are to be made forth in purfuance of this Aft, fliall be entirely difcharged and cancelled in Manner herein after mentioned, and Payment made to the faid Governor and Company of the faid Allowances hereafter made for circulating the faid Exchequer Bills, that then, and net till then, the faid Corporation of the Governor and Coin- and Corporation pany of the Bank of England fhall ceafe and determine, but till thsn, the faid Governor and Company i^" determine, fhall continue a Corporation, and fliall have and enjoy all theP-nvers and Privileges they are now entitled unto by virtue of any. Charter, Aft, or Afts of Parliament heretofore granted or made. ' VIII. And whereas the Exchequer Bills which were made forth in purfuance of the fai-d Aft of the fifth 5 Anna;, c. 13. ' ' Year of berMajefty's Reign, for her Majefty's Supply, did and do amount to the faid full Sum of fifteen ' hundred thoufand Pounds, and the quarterly Bills authorized to be made forth in purfuance of the fame
- Aft, for the faid Rate of four Pounds ten Shillings /)fr Centum per Annum, and the Allowance thereupon,
- until and for the Quarter ended at Lad^ Day one thoufand feven hundred and nine iiiclufive, do amount
'to
