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BANK OF IRELAND ACT 1781
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CHAPTER XVI.
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An Act for establishing a Bank, by the Name of the Governors and Company of the Bank of Ireland.
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National bank established,
by voluntary subscriptions, on or before 1 Jan. 1784,
amounting to 600,000l. to be paid in money or debentures;
debentures taken at par, and interest thereon at 4 per cent.
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WHEREAS it will tend to the advancement of publick credit in this kingdom, and to the extension of its trade and commerce if a bank with publick security, shall be established therein; be it 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 it shall and may be lawful to and for your Majesty, your heirs and successors, by commission under the great seal of Ireland, to authorize and appoint any number of persons, at any time after the first day of August next, to take and receive all such voluntary subscriptions as shall be made on or before the first day of January which shall be in the year of our Lord one thousand seven hundred and eighty four by any person or persons, natives or foreigners, bodies politick or corporate, for and towards the raising and paying into the receipt of your Majesty's treasury in this kingdom the sum of six hundred thousand pounds sterling, to be paid in money, or by debentures which have been or shall be issued from your Majesty's treasury, by virtue of any act or acts of Parliament heretofore, and in this present session made in this kingdom, bearing an interest at the rate of four pounds per centum per annum, which debentures shall be taken at par from such subscriber or subscribers, and be considered as money by the persons to whom the same shall be paid; for which sum so to be subscribed, a sum, by way of annuity, equal in amount to the interest upon said debentures, at the rate of four pounds per centum per annum, shall be paid at your Majesty's treasury in manner herein after mentioned.
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Any sum advanced as premium for permission to subscribe,
applied to carrying on business of said bank, and to crect buildings, &c. such building subject to approbation of lord lieutenant or other chief governor for time being.
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II. And be it enacted by the authority aforesaid, That if from competition for a preference amongst the persons desiring to subscribe, they shall be willing to pay or advance any sum or sums, by way of premium for obtaining such preference or permission to subscribe; in that case the amount of such sum so advanced and paid, over and above the said sum of six hundred thousand pounds to the said commissioners impowered to receive such subscriptions and premiums for such preference or permission, shall be applied towards any purposes for the beginning or better carrying on the business of the said bank, and also towards the erecting a proper building and convenient accommodations for the same, pursuant to such plan as shall be furnished by said commissioners; which plan and situation for such building, shall be subject to the approbation of the lord lieutenant, or other chief governor or governors of this kingdom for the time being.
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His Majesty, heirs and successors, by letters patent may limit how, &c. said sum of 600,000l. or any part thereof may be assigned, &c. and to incorporate said subscribers, their executors, &c. a body politick and corporate, by the name of the Governor and Company of the Bank of Ireland, to have perpetual succession,
purchase, plead, &c. by said name, subject to proviso of redemption herein after.
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III. And be it further enacted by the authority aforesaid, That it shall and may be lawful to and for your Majesty, your heirs and successors, by letters patent under the great seal of Ireland, to limit, direct, and appoint, how and in what manner and proportions, and under what rules and directions the said sum of six hundred thousand pounds sterling, and every or any part or proportion thereof, may be assignable or transferable, assigned or transferred to such person or persons only as shall freely and voluntarily accept of the same, and not otherwise, and to incorporate all and every such subscribers and contributors, their executors, administrators, successors, or assigns, to be one body politick and corporate, by the name of the Governor and Company of the Bank of Ireland; and by the same name of the Governor and Company of the Bank of Ireland, to have perpetual succession, and a common seal; and that they and their successors, by the name aforesaid, shall be able and capable in law, to have, purchase, receive, possess, enjoy, and retain to them, and their successors, lands, rents, tenements and hereditaments of what kind, nature, or quality soever, and also to sell, grant, alien, demise, or dispose of the same; and by the same name to sue and implead, and be sued and impleaded, answer and be answered in courts of record, or any other places whatsoever, and to do and execute all and singular other matters and things by the name aforesaid, that to them shall or may appertain to do, subject nevertheless, to the proviso or condition of redemption herein after mentioned.
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No one person to subscribe a sum exceeding 10,000l.
1–4th to be paid at time of subscription,
and remainder before 1 Jan. 1784,
and in default of payment, prior sums forfeited.
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IV. Provided always, and be it enacted by the authority aforesaid, That no one person or body politick or corporate, shall by himself, herself, or themselves, or by any person or persons in trust for him, her, or them, subscribe, or cause to be subscribed for and towards the raising the said sum of six hundred thousand pounds sterling, any sum or sums of money exceeding the sum of ten thousand pounds sterling, for the use of such person or body politick or corporate respectively; and that every such subscriber shall, at the time of such subscription, pay, or cause to be paid unto the commissioners who shall be authorized and appointed for taking and receiving subscriptions as aforesaid, one full fourth part of his, her, or their respective subscriptions; and in default of such payment as aforesaid, every such subscription shall be utterly void and null; and that the residue of the said subscriptions shall be paid into his Majesty's treasury, in such manner and proportions, and at such times before the first day of January one thousand seven hundred and eighty four, as such commissioners shall direct and appoint; and in default of any such payments, that then such part or parts as shall have been paid as aforesaid, shall be forfeited to and for the benefit of the said bank, to be applied towards any purposes for the beginning or better carrying on the business of the same as aforesaid.
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Said sum of 600,000l. not subscribed for by 1 Jan. 1784, this act void,
and debentures issued for sums subscribed with all interest thereon.
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[V.] Provided always, and be it declared and enacted by the authority aforesaid, That in case the whole sum of six hundred thousand pounds be not subscribed on or before the first day of January one thousand seven hundred and eighty four, that then the powers and authorities in this act for erecting a corporation as aforesaid, shall cease and determine, any thing herein contained to the contrary notwithstanding; and that in such case, all and every such person and persons, bodies politick or corporate, shall be entitled to and receive from the said commissioners such or like debentures, or such sums of money as shall have been by them subscribed and paid, with all interest accruing upon the said debentures, during the time the same shall have been deposited with the said commissioners as aforesaid.
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No security by bill, bond, &c. by said corporation, for any sum exceeding 600,000l.
and if any further sum borrowed, subscribers, &c. answerable in their private capacities to creditor in proportion to their subscriptions,
and an action of debt may be brought, &c.
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VI. And be it further enacted by the authority aforesaid, That the said corporation, so to be created and made, shall not borrow or give security by bill, bond, note, covenant, or agreement, under their common seal, or otherwise, for any sum or sums of money, exceeding in the whole the sum of six hundred thousand pounds; so that they shall not owe at any one time more than a sum equal to the said sum of six hundred thousand pounds, unless it be by future act or acts of Parliament; and if any more or further sums shall be borrowed or taken up by, or lent or advanced to such corporation, under their common seal or otherwise, or for payment of which any bond, bill, note, covenant, agreement, or other writing, shall be made, sealed, or given, then, and in such case, all and every the person and persons who shall be a member or members of the said corporation, his and their respective heirs, executors, and administrators, shall, in his and their respective private capacities, be chargeable with, and liable in proportion to their several shares and subscriptions, to the repayment of such money which shall be so borrowed, taken up, or lent, with interest for the same, in such manner, as if such security had been a security for payment of so much money, and interest for the same, sealed by such respective member or members of such corporation, and delivered by him and them as their respective acts and deeds, in proportion to their several shares and subscriptions as aforesaid; and that in every such case an action of debt shall and may be brought, commenced, prosecuted, and maintained in any of your Majesty's courts of record at Dublin, by the respective creditor or creditors to whom any such security shall be made, or his or their respective executors or administrators, against all and every and any one or more of the persons who shall be members of the said corporation, or all or any of their respective heirs, executors, or administrators, in proportion to their respective shares or proportions as aforesaid; and therein recover and have judgment for him, her, or them in such and the like manner as if such security were respectively sealed by the respective person or persons who shall be so sued, or his or their respective ancestor or testator, or intestate, and by him and them executed and delivered as his or their respective act and deed; any condition, covenant, or agreement to be made to the contrary thereof in any wise notwithstanding; and if any condition, covenant or agreement shall be made to the contrary, the same shall be and is hereby declared to be void.
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No more than 5l. per cent. for money borrowed by said bank,
nor more than 5 per cent. charged by said bank for discount, &c.
under penalty of treble the sum lent, &c.
not to enable corporation to lend money on redeemable mortgages.
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VII.[(a)
] Provided always, and be it enacted by the authority aforesaid, That for all and every sum and sums of money, so to be borrowed by said corporation, no higher or greater interest, gratuity, or consideration shall be paid by said corporation, or any person on their behalf, than at the rate of five pounds per centum per annum; and that for all and every sum and sums of money so to be advanced or paid by the said corporation for or on account of dealing in or discounting promissory notes, or bills of exchange, or for or on account of any money or bonds, or other securities, no higher or greater sum, by way of interest, discount, gratuity, or other consideration, shall be demanded or taken by said corporation, or any person on their behalf, than at the like rate of five pounds per centum per annum, under the penalty or forfeiture of treble the sum or sums so borrowed, lent, or advanced to, or by said corporation, to be recovered in any of your Majesty's courts of record at Dublin, by action of debt, bill, plaint, or information, one moiety thereof to the informer, and the other to the use of your Majesty, your heirs or successors: Provided, that nothing herein contained, shall be construed to enable the said corporation, or any person or persons on their behalf, to lend or advance any sum or sums, to be secured by mortgage or sale of lands, tenements, or hereditaments redeemable; any thing herein contained to the contrary notwithstanding. [Rep., 23 & 24 Vict. c. 31. s. 1.]
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In all actions by this act no privilege, &c. nor more than one imparlance.
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[VIII.] And be it enacted by the authority aforesaid, That in any action, bill, plaint, or information, given by this act, or to be instituted thereon, no protection, wager of law, essoign, privilege of Parliament, or other privilege shall be allowed, nor more than one imparlance.
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And to prevent monopolization by said corporation,
it is enacted they nor any one in trust for them shall deal or trade for goods, &c. with the stock of said corporation save as hereafter,
under penalty of treble the value of goods dealt for,
but said corporation may deal in bills of exchange, bullion, and goods deposited for money lent, and not redeemed at time agreed on.
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IX. And to the intent that your Majesty's subjects may not be oppressed by the said corporation by their monopolizing any goods, wares, or merchandizes: be it further declared and enacted, by the authority aforesaid, That the said corporation, so to be made and created, shall not at any time, during the continuance thereof, deal or trade, or permit or suffer any person or persons whatsoever, either in trust, or for the benefit of the said corporation, to deal or trade with any of the stock, monies, or effects of, or any ways belonging to the said corporation, in the buying or selling of any goods, wares, or merchandizes whatsoever, save as herein after mentioned; and every person or persons, who shall so deal or trade, or by whose orders or directions, such dealing or trading shall be made, prosecuted, or managed for, or in any manner, on behalf of such corporation as aforesaid, shall forfeit for every such dealing or trading, and for every such order and direction, treble the value of the goods and merchandizes so traded for, to such person or persons as shall sue for the same, by action of debt, bill, plaint, or information in any of your Majesty's courts of record at Dublin: provided, that nothing herein contained, shall in any ways be construed to hinder the said corporation from dealing in bills of exchange, or in buying or selling bullion, gold, or silver, or in selling any goods, wares, or merchandizes whatsoever, which shall really and bona fide, be left or deposited with the said corporation, for money lent and advanced thereon, and which shall not have been redeemed at the time agreed on, or within three months after, or from selling such goods as shall or may be the produce of lands purchased by the said corporation.
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Bills of said corporation assignable by indorsement,
and assignee may sue,
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X. Provided always, and be it enacted by the authority aforesaid, That all and every bill or bills, obligatory, and of credit, under the seal of the said corporation, made or given to any person or persons, shall and may, by indorsement thereon, under the hands of such person or persons, be assignable and assigned to any person or persons who shall voluntarily accept the same, and so by such assignee, toties quoties, by indorsement thereupon; and that such assignment and assignments so to be made, shall absolutely vest and transfer the right and property in and unto such bill or bills, obligatory and of credit, and the monies due upon the same; and that the assignee or assignees shall and may sue for, and maintain an action thereupon, in his or her own name.
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If governor, &c. of said corporation shall at any time on account of said corporation, purchase any lands or revenues of the crown, or lead any money to your Majesty, &c. by way of loan upon any branch of your revenue except that branch where a credit of loan is given by parliament under penalty of treble the sum lent,
one half to informer, the other for publick uses under direction of parliament.
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XI. Provided always, and be it further enacted by the authority aforesaid, That if the governor, deputy governor, directors, managers, assistants, or other members of the said corporation, so to be established, shall, upon account of the said corporation, at any time or times, purchase any lands or revenues belonging to the crown, or advance or lend to your Majesty, your heirs or successors, any sum or sums of money, by way of loan, or anticipation, on any part or parts, branch or branches, fund or funds of the revenues granted, or belonging to, or hereafter to be granted to your Majesty, your heirs or successors, other than such fund or funds, part or parts, branch or branches of the said revenue only, on which a credit of loan is or shall be granted by Parliament, that then the said governor, deputy governor, directors, managers, or assistants, or other members of the said corporation, who shall consent, agree to, or approve of, the advancing or lending to your Majesty, your heirs or successors, such sum or sums of money as aforesaid; and each and every of them so agreeing, consenting, or approving, and being thereof lawfully convicted, shall for every such offence, forfeit treble the value of every such sum or sums of money so lent, whereof one half shall be to the informer, to be recovered in any of your Majesty's courts of record at Dublin, by action of debt, bill, plaint, or information, and the residue to be disposed of towards publick uses, as shall be directed by Parliament, and not otherwise.
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No amerciaments, &c. against said corporation,
shall be discharged by privy signet, &c.
and officers of exchequer may detain amount of such fines, &c. out of the annual interest payable to said corporation.
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XII. Provided always, and be it enacted by the authority aforesaid, That all amerciaments, fines, and issues against the said corporation, and their successors, to be had, charged, or estreated in or upon account of any suits or actions, to be prosecuted or brought against them, shall not be pardoned, acquitted, or discharged, by any letters of signet, privy seal, or great seal of your Majesty, your heirs or successors, or otherwise howsoever; and in case any such amerciaments, fines, or issues, shall be estreated into your Majesty's exchequer, against the said corporation, upon any process for non-appearance, at the suit of any person or persons, that then it shall and may be lawful to and for the officers of your Majesty's exchequer for the time being, and they are hereby directed to detain so much money out of the annual interest or produce of the said sum of six hundred thousand pounds, as the said amerciaments, fines, or issues, shall amount unto, out of the said yearly sum, so payable to the said corporation.
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And if any person shall obtain any judgment against said corporation and shall bring execution thereon to officer of exchequer, said officer shall pay the sum in said execution to the plaintiff, and deduct from the annual sum payable to said corporation.
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XIII. And be it further enacted by the authority aforesaid, That if at any time hereafter any person or persons shall obtain any judgment or judgments in any court of law, against the said corporation, for any debt or sum of money, and shall bring any execution or executions thereupon, unto the said officers of your Majesty's exchequer, that then it shall and may be lawful to and for the said officers of the said exchequer, to pay, and they are hereby required to pay, the said sum or sums of money in the said execution mentioned, to the plaintiff or plaintiffs therein named, or their assigns, whose receipt shall be a sufficient discharge for the same; and that the said officers of the said Exchequer shall and may detain so much of the said yearly sum, so payable to the said corporation, as the said debt or debts shall amount unto.
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After passing this act, no persons exceeding six in number, except said corporation shall take up, owe, &c. any sum on their bills, &c. payable on demand, or for less time than six months, under the penalty of treble the sum borrowed, &c.
one moiety thereof to informer, the other to your Majesty, &c.
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XIV. And be it further enacted by the authority aforesaid, That from and after the passing of this act, it shall not be lawful for any body politick or corporate, erected or to be erected, other than the corporation hereby intended to be created and erected into a national bank, or for any other persons whatsoever, united or to be united in covenants or partnership, exceeding the number of six persons, to borrow, owe, or take up any sum or sums of money on their bills or notes payable at demand, or at any less time than six months, from the borrowing thereof, under a penalty or forfeiture by such persons, bodies politick or corporate, of treble the sum or sums so to be borrowed or taken upon such bill or bills, note or notes; one moiety thereof to be paid to the informer, and the other to the use of your Majesty, your heirs and successors, to be recovered by action of debt, bill, plaint, or information, in any of your Majesty's courts of record at Dublin. [Rep., 8 & 9 Vict. c. 37. s. 1.]
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*******
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No members of said corporation liable to the statutes of bankruptcy, by reason of their stock in said corporation, and no stock in said corporation liable to foreign attachment.
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XVII. And be it further enacted by the authority aforesaid, That no member of the said corporation shall be, or be adjudged liable to be a bankrupt, within the intent and meaning of all or any of the statutes made against or concerning bankrupts, for or by reason of their stock or interest in the said corporation, and that no stock in the said corporation shall be subject or liable to any foreign attachments.
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600,000 to be the capital stock of said corporation, and shall be transferable and deemed personal estates,
and said capital stock, and the allowance of 4 per cent. not subject to foreign attachment:
all debentures locked up in treasury until cancelled,
and from the day passing of said patent, all debentures deposited and locked up, shall be cancelled, and all interest thereon shall cease,
and in lieu thereof, there shall be one annuity of 24,000l.
payable half-yearly;
1st payment of said annuity to be on 24 June or 25 December next after passing such letters patent as aforesaid; and if not a compleat half year from the passing said letters to one of said days, then to be paid in proportion; and all interest due to day of passing said letters, to be paid to governor and company for use of the subscribers.
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XVIII. And be it further enacted by the authority aforesaid, That the said sum of six hundred thousand pounds, when paid in by the said subscribers, shall be the common capital and principal stock of the said bank, and shall be transferable and assignable, and shall be deemed personal estate, and not real, and as such, if not otherwise disposed of by the persons intitled to the same, shall go to the executors and administrators of the person or persons dying possessed thereof, or intitled thereunto, and not the heirs of such person or persons; and that the said common capital or principal stock and real funds of the governor and company of the bank of Ireland, and the said allowances after the rate of four pounds per centum for the same, and the particular part, share, and interest of every member of the said corporation in the said stock, funds, and allowances, shall not be liable or subject to any foreign attachment; and that all and every debenture and debentures subscribed in part or for the whole of said stock, shall, as soon as the same shall be deposited by the said subscribers, be locked up in a chest in your Majesty's treasury, until the same shall be cancelled as herein after mentioned; and that from and after the day of passing such letters patent as aforesaid, all and every the debenture and debentures so deposited and locked up, shall be cancelled by the said vice treasurer or paymaster general, his or their deputy or deputies, in the presence of the governor and company of the said bank, from which day all interest payable on the said debentures to the holders or proprietors of the same, shall cease and determine; and in lieu thereof, there shall be paid and payable by the said vice treasurer or paymaster general, his or their deputy or deputies, out of the funds made applicable by Parliament for payment of the interest upon the said debentures, one annuity or yearly sum of twenty four thousand pounds, being a sum equal to the amount of the whole interest payable upon such debentures so cancelled; which annual sum of twenty four thousand pounds shall be paid and payable by two equal half yearly payments by the vice treasurer or paymaster general, his or their deputy or deputies for the time being, to the governor and company of the said Bank, without any defalcation or deduction, and in the same manner as interest hath been heretofore paid upon the said debentures; the first payment of the said annuity to commence and be made on the twenty fourth day of June, or twenty fifth day of December next after the day of passing such letters patent as aforesaid, which ever shall first happen; and if an entire half year shall not have elapsed between the day of passing the said letters patent, and such first day of payment of the said annuity, that then a part or portion of the said annuity proportioned to the time which shall have so elapsed, shall at the rate aforesaid be paid to the governor and company of the said bank; and that all interest which shall have accrued due on such debentures, down to the day of passing the said letters patent, shall be paid by your Majesty's vice treasurer, paymaster general, his or their deputy or deputies, to the said governor and company for the use of the said subscribers, to be handed over, and paid by the said governor and company to such subscribers, their executors, administrators, and assigns, according to the proportions so accruing due to said subscribers upon their respective debentures.
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And said annuity, and all sums arising from said bank, to be for the use of the subscribers to said bank.
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XIX. And be it further enacted by the authority aforesaid, That the said annual sum of twenty four thousand pounds, and all profit, benefit, and advantage from time to time arising out of the management of the said corporation shall (the charges of managing the business of said governor and company only excepted) be applied from time to time to the uses of all the members of said corporation of the governor and company of the bank of Ireland for the time being, rateably and in proportion to each member's part, share, and interest in the common capital and principal stock of the said governor and company, pursuant to such rules and regulations as shall be specified in his Majesty's letters patent aforesaid.
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This section fulfilled.
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[XX.] Provided always, That in case the whole sum of six hundred thousand pounds shall not be advanced and paid in manner aforesaid, on or before the first day of January one thousand seven hundred and eighty four, so as the said corporation shall not be created or established, that then, and in such case, the said debentures so deposited, or like debentures for the sums so respectively subscribed, shall be returned without expence to the different persons so subscribing the same, their executors, administrators, or assigns, together with all interest accruing thereon, to the day upon which the same shall be returned, according to their respective proportions, as fully and effectually, and beneficially, as if this act had never passed.
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On 12 months notice after 1st Jan. 1794, in Dublin Gazette, by order of Ld. Lieut. and repayment of all sums due to said corporation, or on petition of said corporation to parliament before said 1st Jan. 1794, and like repayment, said corporation shall cease and determine;
and in such case or insolvency, the stock first applied to pay debts of said corporation;
and if not sufficient, each member liable until the whole shall be paid.
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XXI. Provided always, and be it further enacted by the authority aforesaid, That [at any time, upon twelve months notice after the first day of January one thousand seven hundred and ninety four, to be published in the Dublin Gazette by order of the lord lieutenant or other chief governor or governors of this kingdom for the time being, and upon repayment by Parliament to the said governor and company of the bank of Ireland, or their successors, as well of the said sum of six hundred thousand pounds in like debentures, and subject to the like interest of four pounds per centum, as of all arrears of the said annual sum of twenty four thousand pounds, without any deduction, discount, or abatement whatsoever from said arrears, or at any time previous to the said first day of January one thousand seven hundred and ninety four, upon like repayment, by and with the desire and consent of the said governor and company, to be signified by them by their petition in writing, sealed with their common seal, and addressed to the lord lieutenant or other chief governor or chief governors of this kingdom for the time being; then, and in such case, the said annuity of twenty four thousand pounds, and every part thereof, together with the said corporation, shall cease and determine; ([(a)
]) and in case of the determination of the said corporation, in consequence of such notice or request, or] in case of insolvency, that then, and in every such case, before any distribution or dividend shall be made of the said stock or the produce thereof, the said governor and company shall be obliged in the first instance, to apply the said stock and the produce thereof then in their hands, or a competent part of the same, to discharge and pay off the total sum of the debts which they shall owe to others; and in case the same shall not be sufficient to pay off and discharge such debts so due to others, that then each member of the said corporation shall in his, her, or their private capacity, according to the proportions of their respective interests in said capital stock, be liable to the payment of said debts, until the whole shall be discharged.
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Dividends to be made to members every six calendar months.
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XXII. And be it further enacted by the authority aforesaid, That the said governor and company shall be obliged to make dividends of the monies which shall from time to time become due or payable to, or be received by the said governor and company, arising from said annuity, and other net profits of the management of said bank, once in every six calender months, unto the members of the said corporation, according to their respective shares and interests in the said capital stock of said governor and company.
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No transfer of bank stock valid,
unless registered in the bank books in seven days from the contract, and actually transferred in 14 days.
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XXIII. And for preventing of clandestine or fraudulent bargains or dealings in bank stock, be it further enacted by the authority aforesaid, That no promise, contract, bargain, covenant, or agreement, made either by word of mouth, or in writing, for the buying or selling of any bank stock, or for the transferring, changing, or altering the property thereof, either in trust or otherwise, however it be, shall be good and valid in law or equity, or legal, obligatory, or binding to either or any of the parties making the same, or concerned therein, or for whose use or account the same is or shall be made, unless such promise, contract, bargain, covenant, or agreement shall be actually registered in words at length in the book or books of the bank, by the officer there for that purpose to be appointed, within seven days, and actually transferred within fourteen days next after the making of such promise, contract, bargain, covenant, or agreement.
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No act, &c. of said corporation, shall forfeit the private estate, &c. of any member thereof,
nor the stock, &c.
but subject to payment of all just debts.
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XXIV. And be it further enacted by the authority aforesaid, That no act, matter, or thing, acts, matters, or things to be done by the said corporation of the governors and company of the bank of Ireland, or by their successors, or by the court of directors of the said corporation, or by any sub-committee appointed or to be appointed by the said corporation, shall forfeit, or subject, or make liable to forfeiture, the particular private and personal state, interest, stock and property of any member of the said corporation; but that notwithstanding any such act or acts, matter or matters, thing or things to be done by the said governor and company of the bank of Ireland, or by the said court of directors, or sub-committees as aforesaid, the estate, stock, interest and property, with the whole proceed, benefit, profit and advantage thereof belonging to each and every member of the said whole corporation, and his particular right, claim, and title thereunto, and to every part thereof, shall be and remain unforfeited, untouched, whole, safe, and entire, to the proper use and benefit of each and every of the said members; subject nevertheless to the payment of all just debts contracted by the said corporation; any law, statute, usage, or custom to the contrary notwithstanding.
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A publick act
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XXV. And be it further enacted by the authority aforesaid, That this act shall be taken and deemed to be a publick act to all intents and purposes, in all courts within this kingdom; and all judges are hereby required to take notice thereof as such, without specially pleading the same.
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[aQuery, rep. in general terms by 17 & 18 Vict. c. 90. s. 1.]
[aSuch part of this provision as relates to the determining of the said annuity of twenty four thousand pounds, and the said corporation of the governor and company of the Bank of Ireland, is repealed by 31 Geo. 3. c. 22. s. 1. (Ir.).] |
