Requisition of Court, may raise Money for Dividends in case of Failure of Remittances.Company, to raise and pay to the said Company such Sums of Money as may be necessary for the Payment of the said Company’s Dividend by reason of any Failure or Delay of the Remittances of the proper Funds for such Payment; such Sums of Money to be raised by Sale or Transfer or Deposit by way of Mortgage of a competent Part of the said Security Fund, according as the said Directors, with the Approbation of the said Board, shall direct; to be repaid into the Bank of England to the Account of the Security Fund, with Interest after such Rate as the Court of Directors, with the Approbation of the said Court, shall fix, out of the Remittances which shall be made for answering such Dividend, as and when such Remittances shall be received in England.
Application of Dividends of Security Fund and the Fund itself in aid of Revenues.XVI. Provided always, and be it enacted, That all Dividends on the Capital Stock forming the said Security Fund accruing after the Monies received by the said Bank to the Account of such Fund shall have amounted to the Sum of Twelve Millions Sterling, until the said Fund shall be applied to the Redemption of the said Company’s Dividend, and also all the said Security Fund, or so much thereof as shall remain after the said Dividend shall be wholly redeemed after the Rate aforesaid, shall be applied in aid of the Revenues of the said Territories.
Dividends to be paid in preference to other Charges, and 2,000,000l. to be paid out of Debt due from the Public. Subject to such Priorities, Revenues to be applied to Service of India.XVII. And be it enacted, That the said Dividend on the Company’s Capital Stock shall be paid or retained as aforesaid out of such Part of the Revenues of the said Territories as shall be remitted to Great Britain, in preference to all other Charges payable thereout in Great Britain; and that the said Sum of Two Millions Sterling shall be paid in manner aforesaid out of any Sums which shall on the said Twenty-second Day of April One thousand eight hundred and thirty-four be due to the said Company from the Public as and when the same shall be received, and out of any Monies which shall arise from the Sale of any Government Stock on that Day belonging to the said Company, in preference to all other Payments thereout; and that, subject to such Provisions for Priority of Charge, the Revenues of the said Territories, and all Monies which shall belong to the said Company on the said Twenty-second Day of April One thousand eight hundred and thirty-four, and all Monies which shall be thereafter received by the said Company from and in respect of the Property and Rights vested in them in Trust as aforesaid, shall be applied to the Service of the Government of the said Territories, and in defraying all Charges and Payments by this Act created, or confirmed and directed to be made respectively, in such Order as the said Court of Directors, under the Control of the said Board, shall from Time to Time direct; any thing in any other Act or Acts contained to the contrary notwithstanding.
Not to prejudice Persons claiming to be Creditors of the Nabobs of Arcot, &c.XVIII. Provided also, and be it enacted, That nothing herein contained shall be construed or operate to the Prejudice of any Persons claiming or to claim under a Deed of Covenant dated the Tenth Day of July One thousand eight hundred and five, and made between the said Company of the one Part, and the several Persons whose Hands should be thereto set and affixed, and who respectively were or claimed to be Creditors of His Highness the Nabob Wallah Jah, formerly Nabob of Arcot and of the Carnatic in the East Indies, and now deceased, and of His Highness the Nabob