always, that it shall be lawful to and for the Commissioners of His Majesty's Treasury, or any Three or more of them, to order and direct that a Sum after the Rate of Eight hundred Pounds, for every Million of the said Two millions five hundred thousand Pounds, shall be deducted; out of the Sum or Sums of Money to be advanced and paid to the said United Company, to reimburse the Charges to be incurred and about the receiving, paying, and accounting for the said Loan.
Company to pay annually into the Bank certain Sums of Money on Account of the Reduced AnnuitiesII. And be it further enacted. That the said United Company, previous and in Preference to the payment of any Dividend to the proprietors of East India Stock, shall pay annually into the Hands of the Governor and Company of the Bank of England, by Two equal Half-yearly Payments, the Sum of Ninety thousand Pounds, being the Interest after the Rate of Three Pounds per Centum on the said Sum of Three millions Reduced Three Pounds per Centum Annuities, created in respect of the Principal Sum of Two millions five hundred thousand Pounds, Part of the said Loan of Twenty-two millions five hundred thousand Pounds; and also the further Sum of Fifty-five thousand four hundred and ten Pounds, by Two equal Half-yearly Payments, on account of the Sinking Fund, for the Redemption of the said Sum of Three millions Reduced Three Pounds per Centum; the said Half-yearly Payments to commence on the Fifth Day of October One thousand eight hundred and twelve, and to continue to be made on or before the First Day of April and the Fifth Day October in each succeeding Year.
And also certain Sums on Account of Consolidated Annuities.III. And be it also enacted, That the said United Company shall pay annually, inter the Hands of the said Governor and Company the Bank of England to the Account herein-before mentioned, in Two equal Half-yearly, Payments, the Sum of Forty-two thousand Pounds, being the Interest after the Rate of-Three Pounds per Centum on the said Sum of One million four hundred thousand Pounds Consolidated Three Pounds per Centum Annuities, created in respect of the said Principal Sum of Two millions five hundred thousand Pounds, Part of the said Loan of Twenty-two millions five hundred thousand Pounds; and also of the further Sum of fifty-five thousand four hundred and ten Pounds, by Two equal Half-yearly Payments, on Account of the Sinking Fund, for the Redemption of the said Sum of One million four-hundred thousand Pounds Consolidated Three Pounds per Centum Annuities the said last-mentioned Half-yearly Payments to commence on the First Day of July and to continue and be made on or before the First Day of January and First Day of July in each succeeding Year.
Company to pay a Sum for Charges of Management.IV. And be it further enacted. That over and besides the said several Suras of Ninety thousand Pounds, and Fifty-five thousand four hundred and ten Pounds, and Forty-two thousand Pounds, and Fifty-five thousand four hundred and ten Pounds herein-before mentioned, the said United Company shall pay into the Hands of the said Governor and Company of the Bank of England, by Half-yearly Payments, such Sum and Sums of Money' as pursuant to an Act of Parliament made and passed in the Forty-eighth Year of the Reign of His present Majesty, intituled, 48 G. 3. c. 4."An Act to authorise the advancing for the Public Service, upon certain Conditions, a Proportion of the Balance remaining in the Bank of for Payment of Unclaimed Dividends, Annuities; and Lottery Prizes, said for regulating the Allowances to be paid for the Management of the National Debt," shall he payable in respect of the Charges of Management of the said Two several Sums of Three Millions Reduced Three Pounds per Centum Annuities, and One million four hundred thousand Pounds Consolidated Three Pounds per Centum Annuities, or so much thereof respectively as from Time to Time shall remain unredeemed.
Directing the Application of the said Sums.V. And be it further enacted, that the said several Sums payable for Interest, Sinking Fund, and Charges of Management on the said Sum of Three Millions Reduced Three Pounds per Centum Annuities, and One million four hundred thousand Consolidated Three Pounds per Centum Annuities, when paid into the Bank as herein mentioned, shall be carried to the Account of the Right Honourable the Lords Commissioners of His Majesty's Treasury, on Account of the Interest, Sinking Fund, and Charges of Management on the Loan raised for the Service of the East India Company.
In Case of Default of Payment by the Company, to be charged on the Consolidated Fund.VI. And be it further enacted. That in case Default shall at any Time be made by the said United Company in any of the Payments herein before mentioned, to the said Governor and Company of the Bank of England at the several Times herein-before limited for that Purpose, then and in every such Case so much Money from Time to Time shall be set apart and issued at the Receipt of the Exchequer in England, out of any Monies on Account of the Consolidated Fund of Great Britain, to the Cashier or Cashiers of the said Governor and Company of the Bank of England, as shall be sufficient to satisfy and pay the Annuities created in respect of the said Three MillionsReduced