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Episcopal and Capitular Estates Management, 1854.

changes.

relate to all Lands and other Hereditaments, and to every Estate or and ExInterest therein, which may have been or which may be acquired by any Ecclesiastical Corporation by Purchase or Exchange under the Provisions of the said recited Act, so as to authorize the last-mentioned 5 Commissioners to require the Payment to them by the Ecclesiastical Corporation primarily interested in such Lands or Hereditaments of a Sum of Money equivalent to the surplus Share thereof.

respecting local Claim

on Tithes.

CLAUSE E. VIII. The Proviso contained in the First Section of the said Provisions recited Act, with reference to the Sale or Exchange of Tithes or 10 Tithe Rentcharges, or Land or Hereditaments allotted or assigned in lieu of Tithes, shall be and the same is hereby repealed; and all the Monies so paid or to be paid over to the Ecclesiastical Commissioners for England under the foregoing Provision, which may have been produced by the Sale, Purchase, or Exchange of Tithes or 15 Tithe Rentcharges, or Land or Hereditaments assigned or allotted in lieu of Tithes, which formed Part of the Endowment of any Ecclesiastical Corporation prior to the passing of the said Act, shall be subject to the Provisions relating to local Claims which are contained in the Sixty-seventh Section of the Act passed in the Third 20 and Fourth Years of Her Majesty's Reign, Chapter One hundred and thirteen; and in every Case in which any Money shall as aforesaid be paid over to the Ecclesiastical Commissioners for England in respect of Surplus the last-mentioned Commissioners shall, in the annual Report to be next thereafter made by them to the Secretary 25 of State, specify the Period at which at the Time of the Settlement of the Terms of the Sale, Purchase, or Exchange in respect of which such Payment was made it was estimated that any and every previously subsisting Lease or Grant of the Tithes or Land thereby dealt with would have expired.

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CLAUSE F.

1850 may

IX. In computing the due Regard to be paid to the just and Basis of reasonable Claims of the present Holders of Lands under Lease or Report of otherwise arising from the long-continued Practice of Renewal, the be taken. Basis of Compensation may, at the Discretion and with the Approval of the Church Estates Commissioners, be that laid down by 35 the Episcopal and Capitular Revenues Commissioners in their Report of One thousand eight hundred and fifty, and where that may not be applicable, then according to the Recommendations laid down in the Lords Report on the same Subject in One thousand eight hundred and fifty-one.

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CLAUSE G.

How Com

putations on

X. Provided always, That in all Computations in any way dependent on the Duration of Lives the Expectation of Life shall be the Duration calculated, not according to the Tables commonly known as the of Lives are

to be calcu

Interpretation.

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Episcopal and Capitular Estates Management, 1854.

Northampton Tables, but, so far as the same can be applied, accord-
ing to the Life Tables which are appended to the Twelfth Annual
Report of the Registrar General of Births, Deaths, and Marriages in
England, and such Computations shall be made throughout at a
uniform Rate of Interest.

XI. The Provisions contained in the Eleventh Section of the said Act with reference to the Interpretation of the Words and Expressions therein specified shall apply to the same Words and Expressions whenever they occur in this Act, and the said Act and this Act shall be read and construed together as One Act.

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Management, 1854.

Episcopal and Capitular Estates

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A

BILL

FOR

Raising a Sum of Money by Exchequer Bonds and Exchequer Bills.

[Note.-The Words printed in Italics are proposed to be inserted
in Committee.]

Most Gracious Sovereign,

W

E, Your Majesty's most dutiful and loyal Subjects, the Preamble.
Commons of the United Kingdom of Great Britain and

Ireland, in Parliament assembled, towards raising the 5 necessary Supplies which we have cheerfully granted to Your Majesty, have resolved to give and grant unto Your Majesty the Sums hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted; and be it enacted, by the Queen's most Excellent Majesty, by and with the Advice and Consent of the Lords 10 Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, as follows:

I. It shall be lawful for the Commissioners of Her Majesty's Trea- Treasury sury of the United Kingdom of Great Britain and Ireland to issue may raise 2,000,000l. Exchequer Bonds, bearing Interest from the Eighth Day of May One by Exche15 thousand eight hundred and fifty-four at Three Pounds Ten Shillings quer Bonds. per Centum per Annum, to be paid off at Par on the Eighth Day of May One thousand eight hundred and fifty-eight, for any Sums not exceeding in the whole Two Millions, to any Person who may have subscribed for such Bonds at a Price not less than Ninety-eight 20 Pounds Fifteen Shillings per Centum, to be paid at the Rate of One

hundred Pounds One Shilling if in Money, or in Exchequer Bills at Par, for every One hundred Pounds so subscribed; and all Exchequer Bills so subscribed shall be delivered up to be cancelled; and all Payments in Money shall be placed to the Account of Her Majesty's Exchequer in the Books of the Governor and Company of the Bank 5 of England.

Instalments. II. Such Parties, their Executors, Administrators, Successors, and Assigns, in respect of such Subscriptions, as have subscribed for any such Exchequer Bonds, and shall have made a Deposit of Ten Pounds per Centum on the Eighth, Ninth or Tenth Days of May One 10 thousand eight hundred and fifty-four, and shall pay the further Instalments in completion of the Price at the following Times; viz.

Treasury may issue a further

Amount of 4,000,000l. on Exche

Thirty Pounds per Centum on the Ninth Day of June next;
Twenty Pounds per Centum on the Eleventh Day of July next;
Twenty Pounds per Centum on the Eighth Day of September next; 15
And the remaining Twenty Pounds on the Seventeenth Day of
October next;

shall on completing such Subscription be entitled to the Bonds for
which they have severally subscribed; and Interest at the Rate of
Three Pounds Ten Shillings per Centum per Annum, from the Day 20
of Payment up to the respective Days on which the Instalments
fall due, shall be paid to such Parties as shall pay the Instalments
at an earlier Period; and unless such Parties so subscribing shall pay
the whole of such Instalments, the Deposit and Instalments actually
paid shall be forfeited, and no Bonds shall be issued on account of 25
such Subscription.

III. It shall be lawful for the Commissioners of Her Majesty's Treasury to issue at any Time previous to the Fifth Day of April One thousand eight hundred and fifty-five a further Amount of Exchequer Bonds, for any Sums not exceeding in the whole Four 30 quer Bonds. Millions, at any Prices and on any Terms which may be determined upon by the said Commissioners, and such Bonds shall bear such Rates of Interest not exceeding Four per Centum per Annum, as shall be fixed by the said Commissioners, and shall be paid off at Pár at the Expiration of any Period or Periods not exceeding Sir Years 35 from the Day such Bonds shall bear Date.

Interest.

IV. The Interest on all Exchequer Bonds issued under the Authority of this Act which shall bear date on the Eighth Day of May One thousand eight hundred and fifty-four shall be payable halfyearly, on the Eighth Day of May and the Eighth Day of November, 40 and the Interest on all other Exchequer Bonds issued under the Authority of this Act shall be payable half-yearly, on such Days as

shall

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shall be appointed by the Commissioners of Her Majesty's Treasury, and all such Interest, at whatever Days payable, shall be charged upon and issued out of the growing Produce of the Consolidated Fund of the United Kingdom.

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4,000,000l

V. If the full Amount of Exchequer Bonds for the Four Millions If full as herein last before authorized to be issued shall not be issued, it shall Amount of be lawful for the Commissioners of Her Majesty's Treasury at in Bonds is any Time or Times not later than the Fifth Day of April One not issued, Exchequer thousand eight hundred and fifty-five, to cause any Number of Bills may 10 Exchequer Bills to be made out at the Receipt of the Exchequer be issued. at Westminster for such Sum or Sums of Money as shall be required to make up the Sum of Four Millions authorized to be raised by Exchequer Bonds as last herein-before mentioned, and all such Exchequer Bills shall be prepared and made out in like Manner as 15 is prescribed in an Act passed in the Forty-eighth Year of the Reign of King George the Third, intituled "An Act for regu- 48 G. 3. c. 1. lating the issuing and paying off of Exchequer Bills," and in another

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Act passed in the Session of Parliament holden in the Fourth and
Fifth Years of the Reign of His late Majesty King William the

20 Fourth, intituled "An Act to regulate the Office of the Receipt of 4 & 5 W. 4.
"His Majesty's Exchequer at Westminster," and in another Act c. 15.
passed in the Session of Parliament holden in the Fifth and Sixth
Years of the Reign of Her present Majesty, intituled "An Act for 5 & 6 Vict.
"further regulating the Preparation and Issue of Exchequer Bills."

25

c. 66.

VI. The whole Amount of Principal Money to be secured by the Limitation of Exchequer Bonds and Exchequer Bills to be issued under the Autho- Amount to rity of this Act shall not exceed the Sum of Six Millions.

6,000,000l.

&c. in reextended to

cited Acts

VII. All and every the Clauses, Provisoes, Powers, Privileges, The Clauses, Advantages, Penalties, Forfeitures, and Disabilities contained in the 30 said Acts shall be applied and extended to the Exchequer Bills to be made out in pursuance of this Act, as fully and effectually to all Intents and Purposes as if the said several Clauses or Provisoes had this Act. been particularly repeated and re-enacted in the Body of this Act.

out under

VIII. The Principal Sum or Sums of Money to be contained in Bills how to 35 such Exchequer Bills shall be charged upon and shall be paid out of be charged and paid. any Supplies to be granted in the next Session of Parliament.

Bills.

IX. The Exchequer Bills to be made out in pursuance of this Interest on Act shall bear such Date as shall be directed in any Warrant or Warrants issued by the said Commissioners of Her Majesty's Trea40 sury, and shall bear an Interest not exceeding the Rate of Threepence

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