Redemption of the Annuities, 424. C. 6. Anno nono Georgii Regis. A. D. 1724.
- Feaft of Saint Michael the Archangel one thoufand feven hundred twerrty-two, have fince been iffued oi 1
' directed to be iffued purfuant to the Aft laft mentioned, for or towards paying off and cancelling the ' faid Exchequer-Bills, which then remained undifcharged :' Now to the End the compleat Redemption of the faid Annuities, amounting to fixty thoufand two hundred thirty-nine Pounds fix Shillings and twe Pence per Annum, may not be obftructed or delayed ; It is hereby provided and further enacted by the Au- thority aforefaid, That for making up the abovefaid Sum of two hundred and four thoufand feven hun- 60,239 i"<>s- »d. ^ re ^ ^ghty-fix Pounds three Shillings and four Pence three Farthings, by this Act intended to be applied .per Annum, " ' towards the Redemption thereof, the Sum of one hundred -ninety-two thoufand two hundred feventy-foui how to be Pounds fixteen Shillings one Penny and fourteen twentieth Parts of one Penny, remaining undifpofed o; made, Sec, the faid Sinking Fund, computed at the Feaft of Saint Michael the Archangel one thoufand feven hundred, , twenty and two, (hall and maybe iffued and applied according to the Purport and true Meaning of thi: Act above expreffed ; and that any further Sum or Sums of Money, not exceeding in the whole twelve thoufand five hundred eleven Pounds feven Shillings three Pence and one twentieth Part of a Penny, fhal] and may be taken and iffued out of the firft Money arifing of or by the faid Sinking Fund, to be compu- ted for any Time after the faid Feaft of Saint Michael the Archangel one thoufand feven hundred and twen- ty-two ; and the Commiflioners of the Treafury, or any three or more of them, or the High Treafurer for the Time being, are hereby authorized and directed to iffue or caufe to be iffued the fame accord- ingly ; any Thing in this or any other Law or Statute wnatfoever to the contrary notwithstanding. CAP. VI. An Act for reviving and adding two millions to the Capital Stock of the South-Sea Company. and for reviving a proportional Part of the yearly Fund payable at the Exchequer, and foi dividing their whole Capital (after fuch Divifion made) into two equal Parts or Moieties, and for converting one of the faid Moieties into certain Annuities for the Benefit of the Members, and for fettling the remaining Moiety in the faid Company ; and for continuing for one Year longer, the Provifion formerly made againft requiring Special Bail in Action; or Suits upon fuch Contracts as are therein mentioned. 7 Geo.i. Stat. 2. ' I. Tkff A Y it pleafe your moft Excellent Majefty ; Whereas in an AcT: of Parliament of the feven tr [ :.'■ . ' J.VJ. Year of your Majefty's Reign, intituled, An Ail for making feveral Provifions to re/lore the Pub- fions relating" ' ^ c ^ Qwdit, which fujfers by the Frauds and Mi/managements of the late Directors of the South-Sea Company', to the Matters * and others, there is contained a Claufe or Provifo in the vVords or to the Effect following (that is tc in this Aa ' fay) Provided always neverthelefs, and it is hereby enacted, That from and after the faid Feaft of ths j Geo. 2. Stat. 2. ' Nativity of Saint John BaptiJl which (hall be in the Year of our Lord one thoufand feven hundred and c ' ' twenty-two, the full Sum of two millions of Pounds Sterling-, Part of the Capital Stock, which fhal 3&. 2. c 16. * then belong to the faid Company, fhall by Force and Virtue of this AcT: be and be deemed and adjudged 4Get>. 2. e. 5. ' to be reduced, funk and annihilated for ever ; and that a proportional Part of their Annuities or yearlj ' Funds, payable at the Exchequer in refpect of twio millions, (hall by Force and Virtue of this Act ' from and after the faid Feaft of the Nativity of Saint John BaptiJl which fhall be in the Year of our Lore ' one thouf'.nd feven hundred and twenty-two, be no longer payable, but fhall from thenceforth for eve ' ceafe and determine, for the Benefit of the Publick ; any 1 hing in the faid recited Acts, or either
- them, or any other Law, Statute or Provifion whatfoever to the contrary in any wife notwithftanding
1 as by theTaid Act, amongft divers other Things therein contained, Relation being thereunto had, maj Repeal of a ' plainly appear :' Now we your Majefty's moft dutiful and loyal Subjects, the Commons of Great Bn- Ciaufein the tain in Parliament affembied, being fully fenfible of the. immenfe Lofs and Damage which the faid Com- 'Act 7 Geo. 1. pithy, commonly called the South-Sea Company, have fuftained by the many Frauds, Abufes and Breache: S:i t' 3 „' r° r ' 1 Hf.Traft which were committed by the late Sub-Governor, Deputy-Governor and Directors of the fatrj' r'rovifions- &c. Company, and others in Confederacy with them, or fome of them ; and being minded to grant furthe E.elief to the uub.ppy Sufferers, and to advance the Publick Credit (as v/ell as the Credit of the fan* Company) for the Benefit of Trade, and otherwife, do moft humbly befeech your Majefty that it may b 1 enacted ; And be it enacted by the King's moft Excellent Majefty, by and with the Advice and Confen .of the Lords Spiritual and Temporal, and Commons, in this prefent Parliament affembied, and by th . Authority of the fame, That the faid recited Provifo and Claufe be repealed, and the fame are hereby de -Thetu-o million; clared and enacted to be null and void accordingly; and the faid Sum of two millions, by Force an< revised, and ad- virtue of this Act, is and {hall be revived and again added to the prefent Capital Stock, of the faid South of South "Wj ' Sea Company ; and that the proportional Part or Parts of the Annuities or yearly Funds of the faid Com .Company, &c. ' pany, payable at the Exchequer in refpect of the faid two millions, together with all Arrears thereof, in curred or grown due fince the faid Feaft of the Nativity of Saint John Bapti/l one thoufand feven hundred and twenty-two, fhall alfo be revived, and again become payable at the Exchequer, as if no fuch Provif 7 Ceo. 1. S.at. s. or Claufe had been enacted or contained in the faid Act of tire feventh Year of his Majefty's Reign ; an J- Thing in that AcT: contained ro the contrary notwithftanding. B-fore ■•i'lune ^ - ^ n ^ ^ c ' t enai ^ :e ^ D V tr,e Authority aforefaid, That the faid Sum of two millions, by this Act re ',-,, Jg 4 fl vived and added to the Capital Stock of the South-Sea Company as aforefaid, fhall before the twenty-four^' virftd among cue Day of J:/ r in the Year of our Lord one thoufand feven hundred and twenty-three, be divided as near a Propricti r- of the convpnjtently may be, to and among ft all the Proprietors of the whole Capital Stock of the faid Company, i Capusi! Stock, _ Proportib
