"there. § 7. The Treasury may direct Exchequer Bills to be made "out not exceeding 3,000,000l.—§ 8. Powers of 48 G. 3. c. 1. "extended to this Act. § 9. Exchequer Bills to bear an Interest "not exceeding 4 per Cent. per Annum. § 10. Bank of England may advance Money on the Credit of this Act, notwithstanding "5 & 6 W. & M. c. 20.-§ 11. Bills to be delivered to the Bank "of England, as Security for the Advances. § 12. Exchequer "Bills to be charged on the Duties granted by this Act. § 13. Money due on Exchequer Bills to be paid out of the next Aids. § 14. Surplus Monies to be carried to the Consolidated Fund. 15. The Treasury to allow the necessary Charges of making "forth new Exchequer Bills. § 16. Money issued to be replaced "out of the first Supplies. § 17. Act may be altered this "Session. § 18." 46 CA P. XXVII. An Act for investing in Government Securities further Por- of His present Majesty, intituled An Act for investing in 6 W. 4. c. 29. Government Securities a Portion of the Cash lying unemployed in the Bank of England belonging to Bankrupts Estates, and applying the Interest thereon in discharge of the Expences of the Court of Bankruptcy, and for the Relief of the Suitors in the said Court; and for removing Doubts as to the Extent of the Powers of the Court of Review, and of the Subdivision Courts, it was enacted, that out of the Cash belonging to the Estates of Bankrupts or to Suitors in Matters of Bankruptcy then lying or which thereafter should lie dead and uninvested in the Name of the Accountant General of the Court of Chancery or of the Accountant in Bankruptcy, any Sum or Sums, not exceeding in the whole the Sum of Three hundred thousand Pounds, might, by virtue of any Order or Orders of the Lord High Chancellor to be made for that Purpose, from Time to Time be placed out, in one entire Sum or in Parcels, in the Name of the said Accountant General or of the Accountant in Bankruptcy, on such Government or Parliamentary Securities as in and by such Order or Orders should be directed, and that such Securities should be carried to an Account, to be intituled "The Bankruptcy Fund Account," subject to such Rules and Orders as the Lord High Chancellor should think fit to prescribe for the Purposes in the said Act mentioned; and it was further enacted, that the Interest and Dividends of all the Securities to be purchased under the Authority of the said Act should from Time to Time be received by the Governor and Company of the Bank of England, and should be carried to an Account, to be intituled "Interest arising from the Bankruptcy Fund Account," to the Credit of the Accountant General in Chancery, or the Accountant in Bankruptcy, as the Circumstances might require: And whereas, pursuant to the Provisions of the said Act, the Sum of Three hundred thousand Pounds has been already invested in the Purchase of Two hundred and twenty-one thousand six hundred and six Pounds • Thirteen Part of the Money in the Bank belonging to Bankrupts Estates to be carried to an Account to be called "The Bankruptcy Fund Account." Securities purchased under this Act subject to like Orders as Securities purchased under recited Act. In certain Cases the Lord Chancellor may order the Securities purchased under this Act to be sold. Thirteen Shillings and Three-pence Three per Centum Reduced Bank Annuities, and of One hundred and nine thousand two hundred and forty-two Pounds Sixteen Shillings and Nine-pence Three per Centum Consolidated Bank Annuities, and such Two several Sums are now standing at the Bank of England, in the • Name of the Accountant in Bankruptcy, to the Credit of the said • Account intituled "The Bankruptcy Fund Account" : And whereas there is still a large Sum of Money belonging to Bankrupts Estates or the Suitors in Bankruptcy, standing in the Name of the said Accountant in Bankruptcy, now lying dead and un'employed at the Bank of England:' Be it therefore enacted by the King'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, That out of the Cash so now lying or which shall hereafter lie dead, and uninvested on Securities in the Bank of England in the Name of the Accountant in Bankruptcy, any Sum or Sums of Money shall and may, by virtue of any Order or Orders of the Lord High Chancellor to be made for that Purpose, from Time to Time be placed out and invested, in one entire Sum or in Parcels, in the Name of the said Accountant in Bankruptcy, on such Government or Parliamentary Securities as in and by such Order or Orders shall be directed; and such Securities shall be carried to the said Account intituled "The Bankruptcy Fund Account"; and the Interest and Dividends of all the Securities so to be purchased shall from Time to Time be received by the Governor and Company of the Bank of England, and be carried to the said Account intituled "Interest arising from the Bankruptcy Fund Account," to the Credit of the Accountant in Bankruptcy. II. And be it further enacted, That all Securities to be purchased under the Provisions of this Act shall be subject to the like Rules and Orders of the Lord High Chancellor, and shall be liable to be varied from Time to Time under the Authority of the said Lord High Chancellor, in like Manner as by the said recited Act is provided as to the Securities purchased by virtue thereof; and the Interest and Dividends of all Securities to be purchased under the Authority of this Act shall be subject to the like Rules and Orders of the said Lord High Chancellor, and shall be applied in like Manner and to the like Purposes as the Interest and Dividends of the Securities purchased by virtue of the said recited Act. III. And be it further enacted, That if at any Time hereafter the Whole or any Part of the Money placed out in pursuance of this Act shall be wanted to answer any Demands due in respect of any Bankrupts Estates, or if it shall at any Time appear to the Lord Chancellor that the Balance of Cash remaining to the Credit of the Accountant in Bankruptcy is not so large as it ought to be, having regard as well to the Convenience of the Suitors in Bankruptcy as also to the Necessity of affording a fair Remuneration to the Bank of England for keeping the Bankruptcy Account of the Accountant in Bankruptcy, the Lord High Chancellor may direct the Whole or any Part of the Securities to be purchased under the Provision of this Act to be sold and disposed of, and the Money arising from such Sale to be paid into the Bank of of England in the Name of the said Accountant in Bankruptcy, and to be applied by him in such Manner as the said Lord High Chancellor shall direct. IV. And be it further enacted, That out of the Interest and Dividends of the said Government or Parliamentary Securities to be purchased as aforesaid the Costs, Charges, and Expences of all Proceedings to be had under this Act shall be paid by the Governor and Company of the Bank of England, by virtue of any Order of the said Lord High Chancellor. Expences of under this Act the Purposes of this Act, same to be made good by Parliament. V. And be it further enacted, That if at any Time hereafter If Money not the Whole or any Part of the Money to be laid out in pursuance sufficient for of this Act shall be wanted to answer the Demand of any Bankrupts or their Creditors or other Persons interested therein, and the Stocks, Funds, and Cash then standing in the Name of the said Accountant in Bankruptcy to the several Accounts before mentioned shall not be sufficient to raise and produce such Money, then and in such Case the Money which shall have been invested under the Provisions of this Act shall be considered a Debt due from the Public, and, to such Extent as may be necessary, shall be answered and made good by Parliament accordingly. VI. And be it further enacted, That the Powers and Authorities given by this Act to the Lord High Chancellor shall and may be exercised in like Manner and are hereby given to the Lord Keeper or Lords Commissioners for the Custody of the Great Seal respectively for the Time being. VII. And whereas by the before-recited Act it is enacted, < that certain unclaimed Dividends and undivided Surplus of Bankrupts Estates should be paid into the Bank of England to the Credit of the Accountant in Bankruptcy: And whereas a Doubt has arisen whether the Provisions in such Act extend to the Case of Fiats where Official Assignees have been appointed, and who have not unclaimed Dividends or undivided Surplus in ⚫ their Hands, such Dividends or Surplus being, according to the Provisions of the said Act, kept at the Bank of England;' be it therefore enacted, That every Official Assignee shall cause a Certificate to be filed of all unclaimed Dividends and undivided Surplus belonging to any Bankrupt's Estate under his Care and Management, in such Manner and subject to such Provisions and Penalties as by the said Act is prescribed with respect to the unclaimed Dividends and undivided Surplus therein mentioned, and as if such Official Assignee had such beforementioned unclaimed Dividends or undivided Surplus in his own Hands. As to the Exercise of Powers given by Act. Official As signee to file Certificate of unclaimed Dividends. claimed Divi VIII. And be it further enacted, That such last-mentioned un- Such unclaimed claimed Dividends and undivided Surplus, and any Penalty payable Dividends to be by any Official Assignee in respect thereof, shall be paid into the paid to the unBank of England, in the Name of the Accountant in Bankruptcy, dend Account. to the Account intituled "The unclaimed Dividend Account," and shall be subject to such Order and Orders as in such Act are prescribed or authorized in respect to the unclaimed Dividend and undivided Surplus therein mentioned. IX. And be it further enacted, That this Act may be altered, Act may be varied, or repealed by any Act to be passed in this Session. 6 & 7 GUL. IV. L altered this X. And Session Public Act. Persons required to give Security to different Departments of the Revenue may do so by a Transfer of Stock or Deposit of Exchequer Bills. Such Stock or Bills on default in Conditions of Deposit to be forfeited to the Department suffering thereby. X. And be it further enacted, That this Act shall be deemed and taken to be a Public Act, and shall be judicially taken notice of as such by all Judges and others, without being specially pleaded. CA P. XXVIII. An Act to enable Persons to make Deposits of Stock or Exchequer Bills in lieu of giving Security by Bond to the Postmaster General, and Commissioners of Land Revenue, Customs, Excise, Stamps, and Taxes. [4th July 1836.] WHEREAS it is expedient to enable Persons and Bodies Corporate from whom Security may be required in respect of any Matter relating to the Revenues of the Post Office, Land Revenue, Customs, Excise, Stamps, or Taxes, in lieu of giving such Security by Bond, to give the same by Transfer of Stocks or Deposit of Exchequer Bills in the Manner herein-after mentioned:' Be it therefore enacted by the King'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, That from and after the passing of this Act it shall be lawful for any Person or Persons or for any Bodies Corporate from whom any such Security is required, and who may be desirous of adopting the Provisions of this Act, in lieu of giving the same by Bond, by and with the Consent of the Commissioners of His Majesty's Treasury, or any Three or more of them, to transfer into the Name of the Postmaster General, or of the Chief Commissioner of His Majesty's Woods, Forests, Land Revenues, Works, and Buildings, or of the Chairman for the Time being of the Commissioners of that Department of the Revenue in respect of which such Security is required, in the Books of the Governor and Company of the Bank of England, so much of any Public Stock standing in the said Books in the Name or Names of such Person or Persons, or Bodies Corporate, or to deposit in the Bank of England in the Name of the said Postmaster General, or Chief Commissioner, or of such Chairman, such an Amount of Exchequer Bills as shall be in the Judgment of the said Commissioners of His Majesty's Treasury, or any Three or more of them, a sufficient Security and Indemnification against all Contraventions of the Duty or Purpose for the due Performance of which such Security was required. II. And be it further enacted, That it shall be lawful for the said Postmaster General upon the Certificate of the Accountant General of the Post Office, and for such Chief Commissioner and for such Chairman as aforesaid upon the Certificate of any Two or more of the Commissioners of such Department of the Revenue, that the Revenue has been damnified by any Act done or any Payment or Duty omitted in contravention of the Duty or Purpose for the due Performance of which such Security was required as hereinbefore mentioned, and they and each of them are hereby required to sell so much of such Stock or of such Exchequer Bills as shall be Such Stock, &c. to stand in Bank Books in Name of Postmaster be necessary to make good any Loss so occasioned, and to pay the Proceeds thereof to the Receiver General of that Department of Revenue in respect of which such Loss has been sustained. III. And be it further enacted, That when any Stock shall be transferred, or any Deposit of Exchequer Bills shall be made, in pursuance of this Act, the said Stock shall be transferred into and the said Exchequer Bills shall be deposited in the Name of General, &c. His Majesty's Postmaster General, the said Chief Commissioner, and not transor the Chairman of the Board of Customs, Excise, or Stamps and ferred except Taxes, as the Case may be, and the Account into which such upon Certificate. Stock shall be transferred or in which such Deposit shall be made shall be so headed in the Books of the Governor and Company of the Bank of England, and no Transfer of such Stock, or Delivery or Sale of such Exchequer Bills, shall be made, except upon such Certificate as is herein mentioned. IV. And be it further enacted, That every such Certificate shall be drawn up in the Form given in the Schedule annexed to this Act. Form of Certificate. A Declaration of the Purposes of the Security to be made in the Form in V. And be it further enacted, That upon every such Transfer or Deposit as aforesaid a Declaration of the Purposes for which the Security is given, in the Form given in the Schedule annexed to this Act, shall be signed by the Person or Persons, or by the Treasurer or Secretary or other Chief Officer of any Body Cor- the Schedule. porate, transferring such Stock or making such Deposit, and by the Postmaster General, or the said Chief Commissioner, or by any Two or more of the Commissioners of the Department of the Revenue requiring such Security; and such Declaration shall be deposited with the said Postmaster General, such Chief Commissioner, or with such Commissioners. Declaration to apply to Exchequer Bills received in Exchange. Commissioners VI. And be it further enacted, That the Declaration to be signed as aforesaid, and all the Provisions in this Act contained relating to the Deposit of Exchequer Bills, shall be deemed to apply as well to the particular Bills so to be deposited as to any other Bills to be received from Time to Time in Exchange for such Bills, or for the Bills from Time to Time received in Exchange in consequence of such Bills or any of them being ordered to be paid off. VII. And be it further enacted, That neither the Commissioners of His Majesty's Treasury, nor the said Postmaster General, nor of the Treasury, &c. not persothe said Chief Commissioner, nor the said Chairman, nor the said nally liable for Commissioners of the said Departments of the Revenue, nor any of Acts done by them, shall be in any way personally liable for any Act done by them in pursuthem or any of them in pursuance of this Act; but that all Actions ance of this Act. and Suits, both at Law and in Equity, commenced against them or any of them in pursuance of this Act, shall be null and void, and shall be quashed and vacated, upon summary Motion, by the Court in which they are commenced, which Court is hereby required to give to the Defendant in such an Action or Suit the full Costs of such Motion, to be taxed as between Attorney and Client. VIII. And be it further enacted, That all Stock transferred to The Stock and and all Deposits of Exchequer Bills made in the Name of the said Exchequer Bills Postmaster General, or of such Chief Commissioner, or of the said to vest in SucChairmen respectively, by virtue of this Act, shall have the Effect of vesting such Stock or Exchequer Bills for the Purposes of this L 2 Act } cessors of Depositees. |