Bank of Ireland Act, 1808
BANK OF IRELAND ACT 1808 | ||
CHAPTER CIII. | ||
An Act for further extending the Provisions of several Acts for establishing the Bank of Ireland; and for empowering the Governor and Company of the said Bank to advance the Sum of One million two hundred and fifty thousand Pounds, Irish Currency, towards the Service of the Year One thousand eight hundred and eight. [25th June 1808.] | ||
Most gracious Sovereign, | ||
Irish Acts, 21 & 22 Geo. 3. c. 16. | ||
s. 20. | ||
31 Geo. 3. c. 22. | ||
s. 2. | ||
37 Geo. 3. c. 50. | ||
ss. 6, 7. | ||
s. 10. | ||
So much of 31 Geo. 3. c. 22. as relate to the determining of the annuity therein mentioned, and to the dissolving the Bank repealed. | ||
Bank shall remain a corporation. | ||
WHEREAS in pursuarce of an Act passed in the Parliament of Ireland in the twenty-first and twenty-second years of his present Majesty’s reign, intituled “An Act for establishing a bank by the name of The Governor and Company of the Bank of Ireland,” the sum of six hundred thousand pounds was subscribed and paid by debentures issued from his Majesty’s Treasury of Ireland; and the persons who subscribed and paid the same were, by letters patent under the great seal of Ireland, incorporated by the name of “The Governor and Company of the Bank of Ireland,” to have perpetual succession, subject to a proviso or condition of redemption in the said recited Act contained: And whereas by an Act passed in the Parliament of Ireland in the thirty-first year of his present Majesty’s reign, for extending the provisions of the said Act of the twenty-first and twenty-second years of his Majesty’s reign, the said governor and company were empowered to receive subscriptions for enlarging their aforesaid capital stock or fund of six hundred thousand pounds, in any sum not exceeding the sum of four hundred thousand pounds, so as to make their whole capital stock the sum of one million: And whereas the said further sum of four hundred thousand pounds was accordingly subscribed and paid: And whereas by the said recited Act of the Thirty-first year aforesaid, so much of the said Act of the twenty-first and twenty-second years of his present Majesty’s reign as related to the ceasing and determining of the said corporation was repealed, and it was provided that the said corporation might be dissolved upon twelve months notice after the first day of January one thousand eight hundred and sixteen upon the terms and conditions in the Act of the thirty-first year aforesaid mentioned and specified: And whereas by an Act made in the Parliament of Ireland in the thirty-seventh year of his present Majesty’s reign, for further extending the provisions of the said recited Act of the twenty-first and twenty-second years, the said governor and company were empowered to receive subscriptions for enlarging the said capital stock or fund of one million in any sum not exceeding the further sum of five hundred thousand pounds capital stock, so as to make the whole capital stock the sum of one million five hundred thousand pounds; and the said further sum of five hundred thousand pounds was accordingly subscribed and paid; and by the said recited Act of the thirty-seventh year aforesaid it was provided that the said sum of five hundred thousand pounds should be paid into the receipt of his Majesty’s Exchequer of Ireland as a loan, and that there should be paid from the Exchequer of Ireland to the said governor and company an interest or annuity of twenty-five thousand pounds, being a sum equal to the amount of the whole interest on the said sum of five hundred thousand pounds after the rate of five pounds per centum per annum; and also that there should be paid from the said Exchequer to the said governor and company a further annuity of three pounds twelve shillings and sixpence for every one hundred pounds of the said five hundred thousand pounds for nineteen years, from the twenty-fourth day of June one thousand seven hundred and ninety-seven; and by the said recited Act of the thirty-seventh year aforesaid, an annuity or yearly sum of thirty thousand pounds was made payable to the said governor and company for the before-mentioned sum of six hundred thousand pounds: And whereas it will promote the extension of public credit and tend to the furtherance of commerce in Ireland if the capital stock of the said bank were increased by the addition of a further sum not exceeding the sum of one million, and if the term for the determining of the said corporation were extended upon the terms and conditions herein-after mentioned: And whereas the said governor and company are willing and have agreed to advance towards the supply granted to your Majesty for the service of Ireland, for the year one thousand eight hundred and eight, the sum of one million two hundred and fifty thousand pounds, Irish currency, upon the terms and conditions herein-after in that behalf 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 so much and such part of the provisions contained in the said recited Act of the Parliament of Ireland made in the thirty-first year of his present Majesty’s reign as relates to the determining of the annuity in the said Act mentioned, and to the dissolving of the said corporation of the governor and company of the Bank of Ireland, upon the notice and payments in the said Act mentioned, shall be and the same is hereby repealed; and [Rep. 35 & 36 Vict. c. 97. (S.L.R.)] that the said governor and company of the Bank of Ireland, and their successors for ever, shall remain, continue, and be one body corporate and politick, by the name of The Governor and Company of the Bank of Ireland aforesaid, and shall for ever have, receive, and enjoy the said several annuities of thirty thousand pounds and twenty-five thousand pounds in the said recited Act of the thirty-seventh year aforesaid mentioned, and shall also have, receive, and enjoy the said annuity after the rate of three pounds twelve shillings and sixpence for every one hundred pounds of the said sum of five hundred thousand pounds, for nineteen years from the twenty-fourth day of June one thousand seven hundred and ninety-seven in the said last recited Act also mentioned [Rep. 35 & 36 Vict. c. 97. (S.L.R.)], together with all liabilities, capacities, powers, authorities, franchises, exemptions, privileges, profits, and advantages whatsoever, to which the said governor and company of the Bank of Ireland now are or before the passing of this Act were entitled by the said several herein-before recited Acts or any of them, and by their charter; and the said governor and company and their successors shall be and are hereby freed and discharged from the said condition of redemption: . . . . . . . . . |