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duty_n act_n majesty_n several_a 1,030 5 7.1452 4 false
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ID Title Author Corrected Date of Publication (TCP Date of Publication) STC Words Pages
A23868 An abstract of the charter to the governour and company of the Bank of England; Charter Bank of England. 1695 (1695) Wing A127; ESTC R3104 8,503 7

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An Abstract of the Charter to the Governour and Company of the Bank of England WHEREAS by an Act Intituled An Act for Granting to Their Majesties several Rates and Duties upon Tunnage c. It is Enacted That for four years from the first of June 1694. there shall be paid upon the Tunnage of all Vessels wherein any Goods shall be Imported from any the Countries in the Act named or Coast-wise from Port to Port in England the several Rates in the Act mentioned and certain Additional Duties of Excise on Beer Ale and other Liquors And that Weekly on every Wednesday if not an Holy-Day and if it be the next day not an Holy-Day all the Monies arising by the said Rates shall be paid into the Exchequer And that Yearly beginning from the first of June 1694 the Sum of 140000 l. arising out of the said Duties and Rates in Case the Weekly Payments extend thereunto shall be the Yearly Fund and if they do not extend thereunto then the said Weekly Payments so far as they will extend shall be part of the Yearly Fund And in Case the said Duties and Rates shall be so low as that within any one Year the Weekly Payment shall not amount to 140000 l. or be sufficient to answer the Annuities by the Act intended in such Case the Commissioners of the Treasury are strictly enjoyned without any Warrant from the King to make good such Deficiency out of any Treasure or Revenue of the Crown not appropriated Yearly to discharge the said Annuities And that it should be Lawful for Their Majesties to Commissionate any number of Persons to receive such Subscriptions as should be made before the first of Aug. next by any Natives or Foreigners or Corporations towards paying into the Exchequer the Sum of 1200000 l. and that the Yearly Sum of 100000 l. shall be Appropriated to such Subscribers And that the said Weekly Payments as they come in shall be divided into 5 7 parts and 2 7 parts which 5 7 parts shall be Appropriated to the paying of the said 100000 l. per Annum and shall be paid as the same comes into the Exchequer to the use of such Subscribers And that the King may appoint how the said 1200000 l. and the said 100000 l. per Annum shall be Assignable and may Incorporate such Subscribers by the Name of the Governour and Company of the Bank of England subject to the Condition of Redemption And if 1200000 l. or a Moiety or greater part thereof be not paid into the Exchequer by the first of January 1694 then the Subscribers shall have only after the Rate of 8 per Cent. per Ann. And the Commissioners of the Treasury are required without any Warrant from the King to pay the said 100000 l. per Annum to the Subscribers And that no Person or Corporation shall Subscribe more than 20000 l. and every Subscriber at the time of his Subscribing shall pay down 1 4 of his Subscription and in Default thereof such Subscription shall be void that the Residue of the Subscriptions shall be paid into the Exchequer before the first of January and in Default thereof the first fourth part shall be Forfeit and that none before the first of July shall write above 10000 l. Provided if 1200000 l. or a Moiety thereof be not subscribed by the first of Aug. then the Powers for Erecting a Corporation shall cease And in such Case so much of the 100000 l. as shall belong to the Subscribers may be assignable and that the Monies payable by the Act to any Person shall not be Chargeable with any Duties or Impositions as by the said Act may appear And whereas Their Majesties by Commission under the Great Seal did authorize divers Commissioners therein named to take such Subscriptions as should be made before the first of Aug. pursuant to the said Act and therein did promise that in case 1200000 l. or a Moiety were subscribed before the said first of August that His Majesty immediately after the said Day or as soon as 1200000 l. should be subscribed which should first happen would incorporate the Subscribers by the name aforesaid and did declare that the whole Sum subscribed and paid should be the Capital Stock and that all the Subscribers should have an Interest therein and in the said 100000 l. per annum which Interest should be assignable so as such Assignments be Entred and Registred as in the said Commission is directed as by the same may more fully appear And Whereas it appears by Duplicates transmitted into the Exchequer under the Hands and Seals of Five or more of the Commissioners that the Sum of _____ hath been subscribed and the first fourth part thereof paid to them on or before the _____ day of _____ last by And whereas it also appears by the entries of several Assignments made in the Auditors office that are by mean Assignments severally intituled to the Subscriptions made by the said Their Majesties in pursuance of the Powers in the said Act do appoint that the said and all and every other Persons Natives and Foreigners and Bodies Politick who over and besides the Persons before-named have subscribed any Sum of Money towards the Sum of _____ and paid the fourth part thereof upon their Subscriptions and who are now living and have not assigned and all the Heirs and Successors of any the Original Subscribers now dead who have not assigned in their life and the Heirs and Successors of the Assigns now dead who did not in their life assign and all Persons Natives or Foreigners or Bodies Politick who either as Original Subscribers and not having parted with their Interests or as Heirs Successors or Assigns or by other lawful Title have or shall have any Interest in the said Capital Stock or Yearly Fund so long as they have any Interest therein shall be and be called one Body Politick c. by the name of The Governour and Company of the Bank of England That by that name they shall have perpetual Succession and a Common Seal and be capable to purchase and hold Lands and Tenements and Goods and Chattels not restrained by the Act and to grant or dispose the same And shall sue and be sued and do all other matters and things that to them appertains subject nevertheless to the Condition of Redemption in the Act mentioned and to all other the Conditions and Clauses therein That all Persons having any Interest in the said Capital Stock or Yearly Fund as Original Subscribers or by Assignments or as Heirs c. shall be and be esteemed Members of the said Corporation and be admitted into the same without Charge That the aforesaid Sum of _____ subscribed as aforesaid shall be and be called the Capital Stock of the said Corporation _____ and that all Persons their Heirs Successors and Assigns in proportion to the Sums by them respectively subscribed shall have an Interest in the said Capital Stock and Yearly Fund of