and to be paid annually during the said Period of Eight Years, until the Whole of the said Loan, with Interest as aforesaid, shall be fully paid and satisfied.

same Provisions as under last

X. And be it further enacted, That any Loan or Loans which Loans granted shall be granted by the said Commissioners from and after the under this Act passing of this Act, shall be subject to the same Powers, Limit- subject to the ations, Regulations and Conditions for the Grant and the Recovery thereof, as the Loans already granted under the Powers and AuActs, unless thorities of the said recited Acts, except so far as such Limitations, otherwise alterRegulations and Conditions shall or may be altered, varied or ed by this Act. extended by this present Act; and that the said Commissioners shall have all such Powers and Authorities for the Purpose of recovering or compelling Payment of any Loans already made, or which shall hereafter be made, as are given to the Commissioners appointed by the said first recited Act in respect of any such Loans, or of any Default in the Payment thereof; and that all and every the Clauses and Provisoes in the said recited Acts contained for the Regulation of the said Commissioners in the Grant of any Loan or Loans, and the Recovery and Receipt of the Loans when due and payable, or otherwise howsoever, shall be of the like Force and Effect, except as aforesaid, as if such Clauses and Provisions were particularly repeated and re-enacted in the Body of this Act.

XI. And be it further enacted, That no Officer or other Person Officers of the or Persons whatsoever, employed in and about the Execution of Exchequer not the said recited Acts and this Act, in the Receipt of His Ma- to receive Fees, jesty's Exchequer in Great Britain, shall demand, take or accept any Fee or Gratuity whatsoever for their Care and Labour, other than such Salaries, Allowances, Rewards or Emoluments as shall or may be granted to, or be allowed to be taken by them respectively under the Authority of the said Commissioners of His Majesty's Treasury, or any Three or more of them, or the Lord High Treasurer for the time being, in Great Britain.

Treasury to is

sue Money to

defray Expences

of executing

Act.

XII. And be it further enacted, That it shall and may be lawful for the said Commissioners of His Majesty's Treasury, or any Three or more of them, or the said Lord High Treasurer for the time being, in Great Britain, and they are hereby respectively authorized and required to issue and advance, or cause to be issued and advanced, all such Sums of Money to such Person or Persons, in such manner and in such Proportions as the Commissioners for the Execution of the said recited Acts and this Act, or any Three or more of them, shall by Writing under their Hands from time to time desire, out of any Part of the Public Funds remaining in His Majesty's Exchequer at Westminster, to be replaced in the manner in this Act mentioned; which Sums so to be issued and advanced shall be employed for the Payment of Allowances, and in defraying all other necessary Charges and Expences in or about the Execution of the said recited Acts and this Act, without other Account than before the said Commissioners of His Majesty's Treasury; and which Money so to be Tax free. issued shall not be subject to any Tax, Duty, Rate or Assessment whatsoever, imposed by Authority of Parliament, but that an Account of the said Charges and Expences shall be laid before. both Houses of Parliament, within Two Months after the Expir1i 3 ation

Bills to be

issued, agree

cates of Commissioners.

ation of the said Commission, if Parliament shall be then sitting, but if Parliament shall not be then sitting, then within Fourteen Days after the Commencement of the then next Session of Parliament.

Treasury to diXIII. And be it further enacted, That when and so soon as the rect Exchequer said Commissioners for the Execution of the said recited Acts and this Act shall have determined upon any Amount of Exchequer ably to Certifi- Bills to be advanced under the Provisions of the said recited Acts, or any of them, or this Act, the said Commissioners, or any Three or more of them, shall forthwith certify such Amount to the Auditor of the Receipt of His Majesty's Exchequer at Westminster for the time being, who on such Certificate or Certificates being deposited in his Office, shall cause and direct to be delivered to the Bearer or Bearers thereof, Exchequer Bills payable at the Period before mentioned, and to such Amount as the said Commissioners shall direct, provided the total Amount to be issued by virtue of such Certificates shall not at any Time exceed the Amount of Exchequer Bills directed to be issued under this Act; and every such Exchequer Bill shall bear Date on the Day on which the said Certificates shall appoint and direct, and shall and may be signed by the Auditor of the Receipt of His Majesty's Exchequer, or in his Name, by any Person duly authorized by the said Auditor to sign the same.

Proviso as to total Amount.

Lists of Exchequer Bills

issued, to be delivered to Commissioners.

In all Cases where a fixed

Fund cannot be provided, Commissioners to take personal Security by Bond to the King.

XIV. And be it further enacted, That such Officers by whom such Exchequer Bills shall be delivered shall from time to time, upon Requisition of the said Commissioners for the Execution of the said recited Acts and this Act, deliver to them at their Office complete Lists of all the Exchequer Bills made out and delivered by them, specifying therein the respective Dates and Sums expressed therein, and the Periods appointed for the Payment of the same, and distinguishing therein the Persons to whom, and the Numbers of the Certificates by virtue whereof the same were issued respectively.

XV. And be it further enacted, That in all Cases of Assistance afforded by the Loan or Advance of any Exchequer Bills under the Provisions of the said recited Acts, or any of them, or this Act, in which a Fund shall not be shown to the Satisfaction of the said Commissioners for the Execution thereof, either to exist or as likely to arise on the Security proposed for any Loan or Loans applied for under the Provisions of the said recited Acts, or any of them, or this Act, of sufficient Amount to discharge the said Loan by Instalments within a Period of Twenty Years from the Date of the Advance; and the First of which Instalments shall commence and be payable within Five Years at farthest from the Date of such Advance, with Interest at the Rate of Four Pounds per Centum per Annum on the Principal from time to time remaining due; that then and in every such case the said Commissioners shall require and take personal Security, either collaterally or in chief, which Security shall be by Writing obligatory to our Sovereign Lord the King, in such Sum or Sums of Money as shall be directed by the said Commissioners, or any Three or more of them, to be paid to our said Lord the King, by such Form of Words as Obligations to the King's Majesty have been used to be made, and with such Conditions to be thereunder written, as

by

Loans may be

granted without personal Security in certain

by such Commissioners shall be deemed proper; and that all such Obligations Obligations to be so made shall be good and effectual in the Law, good in Law. and shall be of the same Quality, Force and Effect, to all Intents and Purposes, as any Obligation made to our Sovereign Lord the now King, or his Predecessors, or any of them, hath at any Time heretofore been, or now is adjudged, received or taken to be; any Law, Usage or Custom to the contrary notwithstanding. XVI. Provided always, and be it further enacted, That it shall be lawful for the said Commissioners to grant any Loan or Loans under the Provisions of the said recited Acts, or any of them, or this Act, without requiring personal Security, in every Case where it can be proved to their Satisfaction, on Oath, that the Security offered will be adequate to the Discharge of the Principal of the Loan applied for, by Instalments, payable as aforesaid, and of sufficient Amount in the whole to discharge the said Loan within a Period of Twenty Years from the Date of the Advance of the same, with Interest at the Rate of Four Pounds per Centum per Interest at 41. Annum on the Principal Sum from time to time remaining due; per Cent. any thing in the said recited Acts, or this Act, contained to the contrary in any wise notwithstanding.

Cases.

Works.

XVII. And be it further enacted, That in all Cases of Assist- Commissioners ance afforded by the Loan or Advance of any Exchequer Bills, to take Mortunder the Provisions of the said recited Acts, or any of them, or gages of Public this Act, for the carrying on, Completion or Repair of any public Work, Road, Railway or Drainage, it shall be lawful for the said Commissioners for the Execution of the said recited Acts and this Act, and they are hereby authorized and required, to take from the Body Politic or Corporate, or Company or Companies of Proprietors interested in such public Work, or the Trustees, Commissioners or other Parties having the Care or Management of such Roads, Railways or Drainage, and applying for such Assistance, Mortgages, Assignments or other competent Security of such Public Works and Undertakings respectively, and of all Property of what Nature or Kind soever belonging thereto, and of the Rates, Tolls and Receipts of what Nature or Kind soever accruing, or which may at any Time thereafter accrue, arise or be taken, collected or received by or for the Use of the Body Politic or Corporate, or Company of Proprietors, Trustees or Commissioners, or other Parties or Persons interested in the public Work, Road, Railway or Drainage, in respect or in aid of which the Advance of Exchequer Bills under the said recited Acts, or any of them, or this Act, shall be made, for the securing the Repayment of the full Amount of the Exchequer Bills advanced by Instalments, to a sufficient Amount in the whole to repay the Principal Money advanced within the Period of Twenty Years from the Date of the said Advance; and the First of which Instalments shall commence Periods of Reand be payable within the Period of Five Years at farthest from payment by Inthe Date of such Advance, with Interest at the Rate of Four stalments with Pounds per Centum per Annum on the Principal from time to time remaining due; and it shall be lawful for any Body Politic or Corporate, or Company of Proprietors, to whom any such public Work shall belong, or the Trustees, Commissioners or other Parties or Persons, by whatever Name or Names called, under whose Care, Management or Controul any such public Work,

Interest at 41.

per Cent.

curities

Road, Railway or Drainage shall be, and they are hereby severally and respectively authorized and required to mortgage, assign and secure such public Works and Undertakings respectively, and all Property as aforesaid belonging thereto, and such Rates, Tolls or Receipts, to the Secretary of the said Commissioners, in such Manner and Form as the said Commissioners shall direct and apPriority of Se- point; and all such Mortgages, Assignments and other Securities, shall have Priority over, and shall precede all other Securities, and all Dividends and Division of Profit or Interest upon any Sums advanced or contributed, or which may thereafter be advanced or contributed for the carrying on or completing of any such public Work, Road, Railway or Drainage, save and except such Sums as shall have been advanced by way of Loan before the Advance of such Bills or Money, and for securing of which said previous Advances, Mortgages, Assignments or other Securities shall have been given and executed to any Person or Persons as bond fide Creditors, and entitled as such to the Repayment of the Principal Money advanced by them, as well as Interest thereon; any thing contained in any Act or Acts of Parliament relating to any such public Work, Road, Railway or Drainage, in aid or in respect of which any such Exchequer Bills have been or shall be advanced under the Provisions of the said recited Acts, or any of them, and this Act, to the contrary in any wise notwithstanding.

Four Fibs in
Value of Par-

ties holding Se

carities con

XVIII. Provided always, and be it further enacted, That in every Case in which Four fifth Parts in Amount in Value of the Persons holding Mortgages, Assignments or other Securities on senting thereto such public Works, Roads, Railways or Drainage, in respect of Commissioners' which Application shall be made for the Advance of any Exchequer Mortgage shall Bills under the Provisions of the said recited Acts, or any of them, have Priority. or this Act, shall agree and signify their Consent in Writing, that a Priority over the Securities held by them respectively shall be given to the Commissioners for the Purposes of this Act, then and in such case the Mortgages, Assignments or other Securities given by the Body Politic or Corporate, or Company of Proprietors, or Parties or Persons interested in any such public Work, Road, Railway or Drainage, to the Secretary of the said Commissioners for the time being, shall have Priority over the Claims of all Persons holding the like Securities, as well such as have not agreed or assented to such Priority, as to those who have so agreed as aforesaid; any thing contained in any Act or Acts of Parliament relating to any such public Work, Road, Railway or Drainage as aforesaid, or any thing contained in any Mortgage, Assignment or other Security given to any such Parties respectively, to the contrary notwithstanding.

Loans may be advanced to public Works not at present in Receipt of Toils, on ceTtain Terms.

XIX. And be it further enacted, That it shall and may be lawful to and for the said Commissioners to make any Advance of Exchequer Bills under the said recited Acts or any of them, or this Act, in aid of any public Work or Undertaking as aforesaid, upon the Credit of any Rate, Rents, Tolls or Profits arising from such public Work or Undertaking, and of the said Work or Undertaking itself, and all Freehold and Leasehold Property of what Nature or Kind soever, belonging to such public Work or Undertaking respectively, although such public Work or Undertaking shall only be in Part completed, and shall not be in the Receipt

of

Centum

Period of Repayment by In. stalments, with

Interest at 41.

per Cent.

of any Rate, Rents, Tolls or Profits, or not in the Receipt of any Rate, Rent, Toll or Profits of sufficient Amount for the Repayment of any Loan by Instalments in the manner and within the Periods aforesaid; provided the actual and expected Receipt or Produce of the said Work or Undertaking shall be proved to the Satisfaction of the said Commissioners to be adequate to the Discharge of the said Loan, by Instalments payable as aforesaid, within the Period of Twenty Years from the Date of the said Advance, together with Interest at the Rate of Four Pounds per per Annum on the Principal from time to time remaining due; and provided the said Commissioners shall be satisfied of the Practicability and Utility of the Work; and provided the Corporation or Company, or Person or Persons carrying the same into Execution, shall expend, subscribe for or deposit, in such manner as the said Commissioners shall direct, before any Advance shall be made under the Provisions of the said recited Acts or any of them, and this Act, a Sum equal to not less than One Half Part of the estimated Costs for the Completion of such Work or Undertaking as aforesaid: Provided always, that in the Estimate of the Commissioners Sum so to be expended, subscribed for or deposited, the said in their EstiCommissioners may, if they shall see fit, take in Consideration ate may conMonies already expended upon such Work or Undertaking, but ready expended. so as that in no case the further Expenditure, Subscription or Deposit, required as aforesaid, shall be less than One Third of the estimated Costs for the Completion of the whole of such Work or Undertaking as aforesaid; and in every such case such Advance may be made upon Mortgage or Assignment of the said Work or Undertaking, and of all Property of what Nature or Kind soever belonging to the same respectively, and of the Rates, Rents, Tolls or Profits receivable, or expected to be received, from such Works or Undertakings respectively, for securing Repayment of the Loan advanced within the Period of Twenty Years from the Date of the said Advance, by such Instalments, payable as aforesaid, as the said Commissioners shall direct and appoint, with Interest at the Rate of Four Pounds per Centum per Annum on the Principal from time to time remaining due, until the whole of the said Principal, and all Interest which shall accrue thereon, shall be fully paid and satisfied.

sider Monies al

Period of Repayment by In

stalments, with Interest at 41.

per Cent.

Proprietors

or Shareholders of any unfinished Work may be called on to complete their Payments.

XX. Provided always, and be it further enacted, That in every case in which any such Advance shall be made upon an incomplete public Work or Undertaking as aforesaid, not in the Receipt of any Rate, Rent, Tolls or Profits, or in the Receipt of any Rate, Rent, Tolls or Profits of insufficient Amount for the Repayment of such Advance in manner aforesaid, the said Commissioners shall and they are hereby authorized and empowered to make Calls on the Proprietors or Shareholders of the said Work or Undertaking, in Proportion to the Amount of their respective Subscriptions as Proprietors or Shareholders therein, for such Sum or Sums of Money as may be necessary to complete the said Work or Undertaking, in case the Expence of completing the same shall exceed the Sum estimated for the Completion thereof at the Time of the Application for the said Loan; and in Default of Payment of the On Default,&c. said Calls, within One Calendar Month from the Date of the same being applied for, (and which Application the said Commissioners

are