Statutes at Large ...

THE

PUBLIC GENERAL STATUTES,

37 VICTORIA.

CHAPTER 1.

An Act to apply the sum of one million four hundred and twenty-two thousand seven hundred and ninetyseven pounds fourteen shillings and sixpence out of the Consolidated Fund to the service of the years ending the thirty-first day of March one thousand eight hundred and seventy-three and one thousand eight hundred and seventy-four.

Most Gracious Sovereign,

[28th March 1874.]

E, Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom of Great Britain and Ireland, in Parliament assembled, towards making good the supply which we have cheerfully granted to Your Majesty in this session of Parliament, have resolved to grant unto Your Majesty the sum herein-after mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted; and be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:

14s. 6d. out of

1. The Commissioners of Her Majesty's Treasury for the Issue of time being may issue out of the Consolidated Fund of the 1,422,7971. United Kingdom of Great Britain and Ireland, and apply the Consolitowards making good the supply granted to Her Majesty for dated Fund for the service of the years ending on the thirty-first day of the service of March one thousand eight hundred and seventy-three and ending 31st one thousand eight hundred and seventy-four, the sum of one March 1873 million four hundred and twenty-two thousand seven hundred and 1874. and ninety-seven pounds fourteen shillings and sixpence.

the years

2. The Commissioners of the Treasury may borrow from Power to the time to time on the credit of the said sum, any sum or sums Treasury to A

[No. 1. Price 2d.]

borrow.

not exceeding in the whole the sum of one million four hundred and twenty-two thousand seven hundred and ninetyseven pounds fourteen shillings and sixpence, and shall repay the moneys so borrowed with interest not exceeding five pounds per centum per annum out of the growing produce of the Consolidated Fund at any period not later than the next succeeding quarter to that in which the said sums were borrowed.

Any sums so borrowed shall be placed to the credit of the account of Her Majesty's Exchequer, and shall form part of the said Consolidated Fund, and be available in any manner in which such fund is available.

Issue of

dated Fund for

CHAPTER 2.

An Act to apply the sum of seven million pounds out of the Consolidated Fund to the service of the year ending the thirty-first day of March one thousand eight hundred and seventy-five.

Most Gracious Sovereign,

[30th March 1874.]

TE, Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom of Great Britain and Ireland, in Parliament assembled, towards making good the supply which we have cheerfully granted to Your Majesty in this session of Parliament, have resolved to grant unto Your Majesty the sum herein-after mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted; and be it enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:

1. The Commissioners of Her Majesty's Treasury for the 7,000,000l. out time being may issue out of the Consolidated Fund of the of the Consoli- United Kingdom of Great Britain and Ireland, and apply the service of towards making good the supply granted to Her Majesty he year ending for the service of the year ending on the thirty-first day of March one thousand eight hundred and seventy-five, the sum of seven million pounds.

31st March

.875.

Power to

Treasury to borrow from

time to time.

2. The Commissioners of the Treasury may borrow from time to time on the credit of the said sum, any sum or sums not exceeding in the whole the sum of seven million pounds, and shall repay the moneys so borrowed, with interest not exceeding five pounds per centum per annum, out of the growing produce of the Consolidated Fund at any period not

later than the next succeeding quarter to that in which the said sums were borrowed.

CHAPTER 3.

An Act to enable the Secretary of State in Council of India to raise Money in the United Kingdom for the Service of the Government of India.

[30th March 1874.]

HEREAS the exigencies of the public service in India require that the Secretary of State in Council of India should be enabled to raise money in the United Kingdom on the credit of the revenues of India :

Be it therefore enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:

State in

1. It shall be lawful for the Secretary of State in Council Power to the of India, at any time or times before the thirtieth day of Secretary of April one thousand eight hundred and seventy-nine, or, if Council of Parliament be then sitting, before the end of the then session India to raise of Parliament, to raise in the United Kingdom, for the service any sum not of the Government of India, any sum or sums of money not exceeding exceeding in the whole ten millions of pounds sterling, and such sum or sums may be raised by the creation and issue of bonds or debentures, or capital stock bearing interest, or annuities, or partly by one of such modes and partly by another or others.

10,000,000l.

the hands of

2. All bonds issued under the authority of this Act may be Bonds may be issued under the hands of two members of the Council of issued under India, and countersigned by the Secretary of State for two members of India, or one of his under secretaries, or his assistant under the Council, and secretary, and shall be for such respective amounts, payable countersigned by Secretary of after such notice, and at such rate or rates of interest as the State. said Secretary of State in Council may think fit.

3. All debentures issued under the authority of this Act Debentures may be issued under the hands of two members of the may be issued. Council, and countersigned as aforesaid, for such respective amounts, and at such rate or rates of interest, as the Secretary of State in Council may think fit, and shall be issued at

As to payment of principal and

interest on debentures.

Debentures

transferable by delivery.

Coupons by delivery.

Capital stock and annuities may be created and issued.

Transfer books

stock and

annuities to be kept.

or for such prices and on such terms as may be determined by the Secretary of State in Council.

4. All debentures issued under the authority of this Act shall be paid off at par at a time or times to be mentioned in such debentures respectively; and the interest on all such debentures shall be paid half-yearly on such days as shall be mentioned therein; and the principal moneys and interest secured by such debentures shall be payable either at the treasury of the Secretary of State in Council in London or at the Bank of England.

5. All or any number of the debentures issued under the authority of this Act, and all right to and in respect of the principal and interest moneys secured thereby, shall be transferable by the delivery of such debentures; and the coupons for interest annexed to any debenture issued under the authority of this Act shall also pass by delivery.

6. Any capital stock created under the authority of this Act shall bear such a rate of interest, and any annuities to be created under the authority of this Act shall be at such rate per centum per annum, as the Secretary of State in Council may think fit; and such capital stock and such annuities may be issued on such terms as may be determined by the Secretary of State in Council; and any such capital stock may bear interest during such period, and be paid off at par at such time, as the Secretary of State in Council may prescribe previously to the issue of such capital stock; and such annuities may be terminable at such period as the Secretary of State in Council may prescribe previously to the issue of such annuities.

7. In case of the creation and issue of any such capital of such capital stock or of any such annuities, there shall be kept, either at the office of the Secretary of State in Council in London or at the Bank of England, books wherein entries shall be made of the said capital stock and annuities respectively, and wherein all assignments or transfers of the same respectively, or any part thereof respectively, shall be entered and registered, and shall be signed by the parties making such assignments or transfers, or, if such parties be absent, by his, her, or their attorney or attornies thereunto lawfully authorised by writing under his, her, or their hands and seals, to be attested by two or more credible witnesses; and the person or persons to whom such transfer or transfers shall be made may respectively underwrite his, her, or their acceptance thereof; and no other mode of assigning or transferring the said capital stock or the said annuities, or any part thereof respectively, or any interest therein respectively, shall be good and available in law, and no stamp duties whatsoever shall be charged on the said transfers or any of them.

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