OpenLegislation

Section XXXII Growing Interest on Tallies until Principal paid, and the Principal and the yearly Fund of £1,000,000 applied to the Uses of all Members of the Corporation in proportion to their Shares.

Original text. Later amendments are not shown.

And be it further enacted That from and after the compleating of the said Subscriptions to be taken by virtue of this Act the growing Interest of all the Talleys and Orders brought in by virtue of the said Subscriptions till the Principal thereon shall be paid off and the said Principal it self so fast as the same shall be received together with the said yearely Paym[en]t. of One hundred thousand pounds per Annum payable to the present Governor and Company by virtue of the said recited Act and all the Profitt Benefitt and Advantage from time to time ariseing out of the Management of all the said Corporation from and after the compleating the said Subscripc[i]ons shall be applied to the Uses of all the Members of the said Corporation of the Governour and Company of the Bank of England rateably and in proportion to each Members Part Share and Interest in the Co[m]mon Capital and Principal Stock of the said Governor and Company hereby establisht.