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Governor and company's stock may be encreased to one million,
200,000l. to be subscribed before 24 June 1796, and the remainder on or before 21 June 1801, to be paid as directors shall appoint, subscriptions deemed part of the capital and used accordingly, subscribers incorporated after full payment,
additional stock transferable, &c.
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III. And in order to promote the extension of public credit, and to further the commerce of this kingdom, be it enacted, That it shall and may be lawful for the said governor and company, and they are hereby authorized and impowered so soon as they shall think proper to receive subscriptions from any person or persons, natives or foreigners, bodies politic or corporate, for enlarging their capital stock or fund of six hundred thousand pounds, in any sum not exceeding the further sum of four hundred thousand pounds capital stock, so as to make their whole capital stock the sum of one million of pounds; provided that two hundred thousand pounds thereof at least, shall be subscribed for and paid on or before the twenty-fourth day of June, one thousand seven hundred and ninety-six, and the remainder thereof on or before the twenty-fourth day of June, one thousand eight hundred and one, which subscriptions shall be made, and the money for such additional stock shall be paid in such manner and form, and by such installments or proportions as the court of directors of the bank shall from time to time appoint; and [Rep., Stat. Law Rev. (I.) Act, 1879.] the capital stock so subscribed and paid for, shall from and after the time of such payment be deemed and taken as and for a part of the capital stock of the said corporation, and shall be employed and used by them in discount, or in any other manner in which by law the monies of the said bank may be employed, and the subscribers thereto from and after the time of making full payment for such additional stock, and their respective executors, administrators, and assigns, shall at all times be members of the said corporation, and incorporated therein, and shall be entitled unto, and have, hold, and enjoy all the benefits, privileges, advantages, and immunities, and be subject and liable to all the regulations, rules and orders to which the present stock-holders and members of the said corporation in respect of the stock held by and belonging to them, are respectively intitled subject and liable unto by the said act of parliament and charter, or by any bye-law of the said corporation or otherwise howsoever, and the said additional stock shall be transferable and assignable in like manner, and the proprietors and holders thereof shall hold their respective shares of the said additional stock in like manner as the respective present stock-holders of the said corporation now do, and hereafter shall hold and enjoy the respective sums now belonging to them in the present capital stock of the said corporation; and the same shall in all respects be consolidated and united as one joint stock.
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