Bank of Ireland Act, 1791

BANK OF IRELAND ACT 1791

CHAPTER XXII.

An Act to extend the Provisions of an Act passed in the Twenty-first and Twenty-second Years of His Majesty's Reign, Entitled, An Act for establishing a Bank by the Name of the Governor and Company of the Bank of Ireland.

Recital 21 & 33 G. 3.

600,000l. was subscribed under said act, and the subscribers were incorporated.

part of recited provision repealed,

governor and company to enjoy the annuity of 24,000l. and all abilities, &c. for ever,

and freed from condition of redemption.

WHEREAS by an act passed in the twenty-first and twenty-second years of his Majesty's reign, entitled, An act for establishing a bank by the name of the governor and company of the bank of Ireland, it is enacted, That his Majesty, his heirs and successors, might by commission under the great seal of Ireland, authorize and appoint any number of persons at any time after the first day of August then next, to take and receive all such voluntary subscriptions as should be made on or before the first day of January in the year one thousand seven hundred and eighty-four by any person or persons, natives or foreigners, bodies politic or corporate, for and towards raising and paying into the receipt of his Majesty's treasury in this kingdom, the sum of six hundred thousand pounds sterling, to be paid in money, or by debentures issued from his Majesty's treasury, by virtue of any act or acts of parliament made in this kingdom, bearing an interest at the rate of four pounds per centum per annum, and that such debentures should be taken at par from such subscriber or subscribers, and be considered as money by the persons to whom the same should be paid, for which sum so to be subscribed, a sum by way of annuity equal in amount to the interest upon such debentures at the rate of four pounds per centum per annum, should be paid at his Majesty's treasury in manner in the said act mentioned; and it is also enacted, that his Majesty, his heirs and successors might by letters patent under the great seal of Ireland, amongst other things, incorporate all and every such subscribers and contributors, their executors, administrators, successors, or assigns, to be one body politic and corporate, by the name of the governor and company of the bank of Ireland; and by the name of the governor and company of the bank of Ireland, to have perpetual succession and a common seal, subject nevertheless to the proviso or condition of redemption therein after mentioned; and it is by the said act provided and enacted, 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 payment 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 annual sum of twenty-four thousand pounds in the said act mentioned without any deduction, 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: And whereas in pursuance of the said act the sum of six hundred thousand pounds was subscribed and paid by such debentures as aforesaid, and his Majesty by letters patent under the great seal of this kingdom, incorporated the subscribers thereof into one body politic and corporate, by the name of the governor and company of the bank of Ireland, 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 such part of the said recited provision contained in the same act, as relates to the determining of the said annuity of twenty-four thousand pounds per annum, and the said corporation of the governor and company of the bank of Ireland, upon the notice and payments therein mentioned, shall be, and is hereby repealed, and [Rep., Stat. Law Rev. (I.) Act, 1879.] 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 politic, by the name of the governor and company of the bank of Ireland aforesaid, and shall for ever have, receive, and enjoy the said annuity of twenty-four thousand pounds, together with [Rep., Stat. Law Rev. (I.) Act, 1879.] all abilities, 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 making of this act were intitled by the said recited act and charter, and the said governor and company, and their successors, shall be, and are freed and discharged from the said condition of redemption. [Rep., Stat. Law Rev. (I.) Act, 1879.]