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The Cashiers of the Bank to give Receipts for Subscriptions, which may be assigned.
Subscriptions paid in part, and not completed, forfeited.
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XXX. And be it enacted, That the Cashier or Cashiers of the Governor and Company of the Bank of Englard, who shall have received or shall receive any Part of any Contribution towards any Sum or Sums of Money raised or to be raised under the Provisions of this Act, shall give a Receipt or Receipts in Writing to every such Contributor for all such Sums; and that the said Receipts so to be given shall be assignable at any Time for and during such Period as shall and may be determined upon by the said Commissioners of the Treasury; and the said Receipts shall be in such Form and Words and under such Regulations as shall be approved by the said Commissioners of His Majesty’s Treasury: Provided always, that in case any such Contributors who have already deposited with or shall hereafter pay to the said Cashier or Cashiers any Sum or Sums of Money, at the Time and in the Manner specified in the Proposals of the several Loans, in part of the Sum or Sums so by them respectively subscribed, or their respective Executors, Administrators, Successors, or Assigns, shall not advance and pay to the said Cashier or Cashiers the Residue of the Sum or Sums so subscribed at the Times and in the Manner stated in the Proposals, then and in every such Case so much of the respective Sum or Sums so subscribed as shall have been actually paid in part thereof to the said Cashier or Cashiers shall be forfeited for the Benefit of the Public, and all Right and Title to the said Redeemable Annuities or Annuities for Terms of Years in respect thereof shall be extinguished; any thing in this Act contained to the contrary thereof in anywise notwithstanding.
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