# Bank of England Act 1696, Section XLIII: The said Monies to be paid out to the Bank and others entitled to the same, and not divertible.


Penalty; Bank to receive £8 per Cent. out of General Fund, for Tallies subscribed, &c.
And it is hereby enacted That all the Money which shall be so distributed or placed to the Account of each and every of the said deficient Taxes Duties and Funds before enumerated & expressed for or towards the Payment of Principal & Interest thereupon shall be issued paid out and disposed so farr as the same will from time to time extend as well to the said Governor and Company of the Bank of England and their Successors as to all & every other Person and Persons Bodies Politick and Corporate who are or shall be intituled to receive the said Principal and Interest in such and the like Course Order Manner and Forme as if the same were Moneys really ariseing by the said respective Taxes Duties or Funds hereby computed and expressed to be deficient as aforesaid and that without being diverted or divertible to any other Use or misapplied & without giving any undue Preference under the Penalty of incurring the same Forfeitures and Disabilities by the Officers and other Persons concerned therein as they would have incurred for diverting or misapplying any the Money of such Tax Duty or Fund in case the same were not deficient and that out of the said Moneys so from time to time ariseing and being brought into the Exchequer of or for the said General Fund hereby provided & established for making good the said deficient Funds the said Governor and Company of the Bank of England shall from time to time receive so much as will make upp and compleate for them an Interest after the Rate of Eight pounds per Centum per Annum as well for all and every the Talleys and Orders which shall be subscribed and brought into the Bank as aforesaid and be charged upon any of the Funds pursuant to this Act as for any other their Talleys and Orders whereupon the Interest (in regard of the Subscripc[i]on of One Fifth in Bank Bills or Notes is to be augmented to the Rate of Eight pounds per Centum per Annum by virtue and in pursuance of this Act.

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Source: https://www.legislation.gov.uk/aep/Will3/8-9/20/section/XLIII (the official version)
Page: https://openlegislation.uk/bank-of-england-act-1696/section-XLIII
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.