spectively, and all Persons and Corporations lawfully claiming under him, her or them, shall have good, sure, absolute and indefeasible Estates and Interests in the said respective Annuities, according to the true Tenor and Meaning of this Act, and shall be possessed thereof as of a Personal Estate, devisable as such, and which shall not be descendible to Heirs, nor liable to any Foreign Attachment by the Custom of London or otherwise; any Foreign Attach- Law, Custom or Usage to the contrary notwithstanding; but no Payment shall be made or Transfer allowed upon any Devise until such Devise shall have been duly entered at the Bank. Not liable to ment. Certificates of changed or paid to Commis sioners for XV. And be it further enacted, That as soon after the Expiration of the respective Periods allowed by this Act for signifying Assent under this Act as the same can be done, Certificates shall be from time to time made out and transmitted to the Commissioners for the Reduction of the National Debt, by the proper Officer or Officers of the Bank of England, of the Amount of National Debt. Four Pounds per Centum Annuities which shall have been exchanged into such Reduced Three Pounds Ten Shillings per Centum Annuities, or paid off under the Provisions of this Act, and of the Annual Interest which shall have ceased thereby, and also of the Capital Amount of such Reduced Three Pounds Ten Shillings per Centum Annuities created by such Exchange, and of the Annual Interest thereon. Bonds and Con tracts to transfer Lenders of 41. per Cents. on Contract to replace, may on Notice demand 100/. XVI. And be it further enacted, That in every Case in which any Person or Persons shall at the Time of the passing of this Act be or remain bound by the Condition of any Bond or Obligation, or by the Terms of any Instrument in Writing, or by any Agreement or Contract, to transfer any Amount of Capital Stock in the said Four Pounds per Centum Annuities respectively, the Condition of every such Bond or Obligation, or the Terms of any such Instrument in Writing, or Agreement or Contract, shall be deemed in Law and Equity to be satisfied, by making a Transfer of an equal Amount of Capital Stock in the Reduced Three Pounds Ten Shillings per Centum Annuities; and that where any Party is by the Condition of any such Bond or Obligation, or the Terms of any such Instrument in Writing, or Agreement or Contract, bound or required to pay Half yearly Sums, equal to the Dividends, on any specified Amount of any such Four Pounds per Centum Annuities respectively, every such Bond, Obligation, Instrument, Agreement or Contract, shall be satisfied by the Payment of Half yearly Sums, equal to the Dividends of or upon the same Amount of the said Three Pounds Ten Shillings per Centum Annuities. XVII. Provided always, and be it further enacted, That in every Case in which any such Four Pounds per Centum Annuities respectively shall have been transferred in the way of Loan, upon any Condition in any Bond or Instrument, or under or upon any Agreement or Contract for the Repayment of such Loan, by the Money for every replacing the Amount of Stock so transferred, it shall be lawful for the Person or Persons who shall have made any such Loan, or their Executors, Administrators or Assigns, to declare an Option, and give Notice thereof in Writing, and thereby require the Repayment of One hundred Pounds of lawful Money of Great Britain, for every One hundred Pounds Capital Stock of such 1001. Stock. Four Four Pounds per Centum Annuities, transferable at the Bank of England, so transferred in the way of Loan as aforesaid, and so in Proportion for any greater or less Amount; and every Bond, Obligation, Instrument, Agreement or Contract, given, entered into or made upon any such Loan or Contract, shall be deemed in every such Case in Law and in Equity to entitle the Person or Persons, his, her or their Executors, Administrators or Assigns, to such Repayment in Money, and to demand and recover the same in any Court in which any Action, Suit, Process or Proceeding may be brought, instituted or carried on, upon any such Bond, Obligation, Instrument, Agreement or Contract; any Thing in any such Bond or Obligation, Instrument, Agreement or Contract to the contrary notwithstanding. Powers of Attorney for Sale or XVIII. And be it further enacted, That every Power of Attorney in force at the Time of passing this Act, for the Sale or Transfer of any such Four Pounds per Centum Annuities, in respect of which an Assent to accept Three Pounds Ten Shillings per Cent. Anper Centum Annuities may not have been signified under the nuities in force, Provisions of this Act, shall remain and continue in full Force, unless revoked. unless legally revoked, for the Purpose of enabling the Attorney or Attornies therein named to give a legal Discharge for the Principal and Dividend of such Four Pounds per Centum Annuities, when paid off under the Provisions of this Act, or to assent to receive Three Pounds Ten Shillings per Centum Annuities in lieu of the said Four Pounds per Centum Annuities. XIX. And be it further enacted, That all Powers of Attorney which may have been or hereafter may be granted, and which would have remained in force if this Act had not passed, for the Receipt of Dividends, or for Sale or Transfer of any Four Pounds per Centum Annuities, transferable at the Bank of England, and which under or by virtue of this Act have been or shall be converted into Three Pounds Ten Shillings per Centum Annuities, shall continue and remain in full Force and Effect, for receiving the Dividends which shall become due on the Three Pounds Ten Shillings per Centum Annuities created in lieu thereof, or for selling or transferring any such Three Pounds Ten Shillings per Centum Annuities, and also for receiving Dividends on any further Sum of such Three Pounds Ten Shillings per Centum Annuities, which the Parties by whom such Letters of Attorney were given may hereafter purchase or acquire, until such Powers are revoked or otherwise determined. XX. And be it further enacted, That all Trusts, whether created by Will or otherwise, and which existed either in the Whole or in Part, and all Directions contained in any Will or Devise or Testamentary Paper which remain unexecuted at the Time of the passing of this Act, as to any Four Pounds per Centum Annuities which may under this Act be converted into Three Pounds Ten Shillings per Centum Annuities, or as to the Payment or Distribution of any Dividends thereon, or as to the Transfer of any such Annuities in any Events specified in any such Trusts or Will or Testamentary Paper, shall extend and be deemed and construed in all Cases and in all Courts of Law and Equity in the United Kingdom, or elsewhere in any Dominions or Territories belonging to His Majesty, to extend and to apply to all such Three Pounds Ten So Powers of Attorney for receiving Divi dends or Transfer of Four per Cents. to remain in force. Trusts as to 41. per Cents, shall extend to 31. per Cents., an Directions for the Application of 41. per Cents. carried into Effect by of the 34. per Cents. Trustees, &c. indemnified. Questions as to Trusts in the 41. per Cents. may be decided by Courts of Chancery, Exchequer and Court of Session, Ten Shillings per Centum Annuities, created in lieu of any Four Pounds per Centum Annuities, subject to or affected by any such Trusts or Devises or Wills or Testamentary Papers, for all Purposes, and in all Cases in which such Trusts or to which any such Directions can be made applicable: Provided always, that in all Cases in which any Proportions or Parts of any such Four Pounds per Centum Annuities are required to be transferred under any such Trusts, or under the Provisions of or Directions contained in any Will, Devise or Testamentary Paper, or any Proportion or Part of any Dividends arising from and out of any such Four Pounds per Centum Annuities are required to be paid or distributed, the Transfer of a like Amount of Three Pounds Ten Shillings per Centum Annuities, and the Payment and Distribution of Dividends at the Rate of Three Pounds Ten Shillings per Centum, instead of Four Pounds per Centum, upon the Capital, shall be and be deemed and taken, in all Courts and for all Purposes, to be a due Execution of such Trusts, or of the Directions contained in any Will or Testamentary Paper, and shall fully discharge the Trustee or Executor or Executors making the same, who are hereby declared to be and are hereby fully indemnified in respect of such Execution of any such Trusts and Executorship as aforesaid. XXI. And be it further enacted, That in every Case in which any Question may have arisen or may arise upon the Execution of any Trusts, or upon any Distributions which may have been or may be made, or may remain to be made by any Trustees, Executors or Administrators, of or in relation to or arising out of any such Four Pounds per Centum Annuities, or of any Parts or Proportions of any such Four Pounds per Centum Annuities, which may have been vested in any Trustees, or which may have been distributable by any Executors or Administrators, or as to the Application of any Residue thereof, or as to the Distribution or Application of any Three Pounds Ten Shillings per Centum Annuities, transferred under the Provisions of this Act, in lieu of any Four Pounds per Centum Annuities, whether as to the Powers or Authorities of any such Trustees, Executors or Administrators, or as to the relative Interest of any Persons entitled under any such Trusts or under Wills to receive any Annuities charged upon or arising or payable out of the Proceeds of any such Four Pounds per Centum Annuities, and of any Persons interested in any Residue of any of such Four Pounds per Centum Annuities, whether under any specific Provision relating to any such Trusts, or contained in any Wills, or arising out of the Execution of any Wills by any Executors, or the Distribution of any Estates by any Administrators, and in all other Cases whatsoever in which any Question may arise in consequence of the Transfer of any such Four Pounds per Centum Annuities into Three Pounds Ten Shillings per Centum Annuities, it shall be lawful for any such Trustees, Executors or Administrators, and for Persons entitled to or interested in any such Four Pounds per Centum Annuities, or any Three Pounds Ten Shillings per Centum Annuities created in lieu thereof, or in any Proceeds of any such Annuities whether in Reversion or otherwise, to make Application to the High Courts of Chancery or to to the Courts of Exchequer in England or Ireland respectively, either by Mcor the Court of Sessions in Scotland, in a summary Way, either tion or Petition. by Motion or Petition; and it shall be lawful for the High Courts of Chancery or for the Courts of Exchequer in England or Ireland respectively, or for the Court of Session in Scotland, to make general Orders in relation to any such Question, or special Orders, in a summary Way, upon any such Application, or as to any other Matter or Thing relating to any such Annuities, or to any Dividends thereof, or to any Three Pounds Ten Shillings per Centum Annuities which may be created in lieu thereof, or to the Application of any such Three Pounds Ten Shillings per Centum Annuities, or any Dividends thereof; and no Application, Petition or Affidavit, made by or on Behalf of any Trustees, Executors or Administrators, or Trustee, Executor or Administrator, or other Person or Persons interested in any of such Annuities, or any Dividends thereof respectively, nor any Order or Report made, or other Proceeding had in any or either of the said Courts respectively, in consequence of any Question which may arise out of any of the Provisions of this Act, in relation to the Four Pounds per Centum Annuities, or any Part or Share or Shares thereof, or in relation to any Three Pounds Ten Shillings per Centum Annuities which may be created under this Act, in lieu of the said Four Pounds per Centum Annuities, or the Dividends of such respective Annuities, nor any Copy or Copies of such Application, Petition, Affidavit, Order, Report or other Proceeding, shall be subject or liable to be stamped, or charged or chargeable with any Stamp Duties whatever, any Thing in any Act or Acts of No Stamp Parliament to the contrary notwithstanding; and all Trustees, Executors, Administrators and other Persons acting under any Orders made by any or either of such Courts respectively, or whose Acts shall be confirmed by any or either of such Courts respectively, if done before any Application made to any or either of the said Courts respectively, shall be and are hereby Indemnity to fully indemnified against all Actions, Suits or Proceeding for or Trustees, Exin respect of any Act, Matter or Thing done by them respectively ecutors, &c. in pursuance of or under any such Order, or which shall be confirmed by any such Order; and in case any Action, Suit or other Proceeding be commenced or instituted against any such Trustee, Executor, Administrator or other Person, for or in respect of any such Act, Matter or Thing, it shall be lawful for the Court in which such Action, Suit or Proceeding shall be commenced, or shall be pending, upon summary Application, Costs. to stay, and such Court is hereby required to stay such Action, Suit or Proceeding, and to make such Order relative to the Costs thereof as such Court shall think expedient. Duties. XXII. And be it further enacted, That it shall be lawful for the New 3. per Commissioners for the Reduction of the National Debt, and they Centum Anare hereby empowered and required to accept and receive Three nuities may be Pounds Ten Shillings per Centum Reduced Annuities created by Commissioners accepted by the this Act, as the Consideration for the Purchase of Life Annuities; of National and for the Purpose of ascertaining the Price of such Stock or Debt for PurAnnuities, the Cashier or Cashiers of the Bank of England shall, chase of Life and they are hereby required, on every Day on which any of the Annuities, said Annuities shall have been bought at the Bank of England, to to cause an Account to be made out of the average Price thereof, according to the Regulations prescribed by any Act or Acts now in force for ascertaining the average Price of Three Pounds per Centum Bank Annuities, for enabling the Purchase of Life Annuities; which said Account shall be transmitted to the Officer appointed by the said Commissioners, to enable him to ascertain the respective Amounts of the like. Annuities which may be purchased by the Transfer of such Three Pounds Ten Shillings per Centum Reduced Annuities, as aforesaid. XXIII. And be it further enacted, That when any Three Pounds Ten Shillings per Centum Reduced Annuities shall be transferred to the said Commissioners for the Purchase of Life Annuities, that such Three Pounds Ten Shillings per Centum Reduced Annuities shall be first converted by the Computation of the said Officers into Three Pounds per Centum Consolidated or Reduced Bank Annuities (at the Option of the Purchaser), according to the average Price of those Stocks, to be ascertained as hereinbefore directed; and the Life Annuities to be granted thereon shall be calculated and ascertained upon the Amount of Three Pounds per Centum Bank Annuities, including Fractions (if any) produced by such Conversion, according to the Provisions, Rules and Regulations prescribed by any Act or Acts now in force, enabling the said Commissioners to grant Life Annuities. XXIV. And be it further enacted, That this Act shall be and is hereby declared to be a full and complete Indemnity and Discharge to the said Governor and Company of the Bank of England, and the Governor and Company of the Bank of Ireland, their Officers and Servants, and every of them, for all Things done or permitted to be done pursuant thereto; and that the same shall not be questioned or impeached in any Court of Law or Equity whatsoever, to their Prejudice or Detriment. XXV. And be it further enacted, That this Act may be altered, varied or repealed by any Act to be passed in this Session of Parliament. [See Cap. 45. post.] CA P. XII. An Act to facilitate in those Counties which are divided into WHEREAS by an Act passed in the Fourth Year of the Reign of His present Majesty, intituled An Act for consolidating and amending the Laws relating to the building, repairing and regulating of certain Gaols and Houses of Correction in England and Wales; it was (amongst other Things) enacted, that there should be maintained at the Expence of every County in England and Wales, one Common Gaol, and that the Regu lations and Provisions contained in the said Act should extend, |