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The comptroller general shall certify to the Treasury, quarterly, the amount of principal and interest paid for Exchequer bills, and the Treasury shall order the requisite amount of 3l. per cent, annuities to be placed to the credit of the commissioners.
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51. The comptroller general or assistant comptroller acting under the said commissioners shall, at the end of every quarter of the year in which such Exchequer bills shall have been purchased by or on account of the said commissioners as aforesaid, certify to the Treasury the amount of the principal and interest paid for the same (and also the amount and description of three pounds per centum annuities which might have been purchased with such principal and interest, estimated at the quarterly average price of three pounds per centum annuities as aforesaid); and thereupon it shall and may be lawful for the Treasury, and they are hereby authorized and required, by warrant, from time to time to order and direct the Bank of England to direct their accountant general to enter and place to the credit of the said commissioners, upon the account standing in their names in the books of the said bank, under the title of “The Fund for the Banks for Savings,” the amount of the three pounds per centum consolidated or reduced annuities (as the case may be) contained from time to time in every such certificate; the first half-yearly payment of the dividends whereof shall commence from the day on which the last half-yearly dividends were due and payable on the said three pounds per centum consolidated or reduced annuities, as the case may be.
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