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THE

PUBLIC GENERAL STATUTES,

21 VICTORIA.

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CAP. I.
An Act to indemnify the Governor and Company of

the Bank of England in respect of certain Issues of
their Notes, and to confirm such Issues, and to
authorize further Issues for a Time to be limited.

[12th December 1857.] : WHEREAS by the Act of the Session holden in the 7 & 8 Viet.

Seventh and Eighth Years of Her Majesty, Chapter c. 32. Thirty-two, " to regulate the Issue of Bank Notes and for “ giving to the Governor and Company of the Bank of “ England certain Privileges for a limited Period,” the Governor and Company of the Bank of England are prohibited from issuing Bank of England Notes either into the Banking Department of the Bank of England or to any Persons or Person whatsoever, save in exchange for other Bank of England Notes, or for Gold Coin, or for Gold or Silver Bullion received or purchased for the Issue Department of the said Bank under the Provisions of that Act, or in exchange for Securities acquired and taken in the said Issue Department under the Provisions therein contained: And whereas under the said Act and an Order in Council issued

under the Provisions thereof the Amount of Securities to • be acquired and taken in the said Issue Department stands

limited not to exceed the Sum of Fourteen million four • hundred and seventy-five thousand Pounds : And whereas

by a Letter dated the Twelfth Day of November last the First Lord of the Treasury and the Chancellor of the Ex

chequer informed the Governor and Deputy Governor of • the Bank of England that Her Majesty's Government had • observed with great Concern the serious Consequences which • bad ensued from the recent Failure of certain Joint Stock • Banks in England and Scotland, as well as of certain large • mercantile Firms chiefly connected with the American Trade; + that the Discredit and Distrast which had resulted from • these Events, and the Withdrawal of a large Amount of the

Paper Circulation authorized by the existing Bank Acts, appeared to Her Majesty's Government to render it necessary

for them to inform the Bank of England that if they should is [No. 1. Price 2d.]

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• be unable in the present Emergency to meet the Demands

for Discounts and Advances upon approved Securities without 'exceeding the Limits of their Circulation prescribed by the · Act of One thousand eight hundred and forty-four, the . Government would be prepared to propose to Parliament • upon its meeting a Bill of Indemnity for any Excess_so

issued; and that, in order to prevent that temporary Re

laxation of the Law being extended beyond the actual • Necessities of the Occasion, Her Majesty's Government were ‘of opinion that the Bank Terms of Discount should not be

reduced below their then present Rate : And whereas the · Governor and Company of the Bank of England have since

the said Twelfth Day of November One thousand eight hundred and fifty-seven issued Bank of England Notes in exchange for Securities acquired and taken in the said Issue Department beyond the Amount limited by Law, and it is expedient that the Acts of the said Governor and Company

in relation to the Matters aforesaid should be confirmed, and • that the Restriction on the Amount of the Securities to be * acquired and taken in the said Issue Department should be • suspended for a limited Time:' Be it therefore enacted by the Queen's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of

the same, as follows: Issues of Bank

I. All such Issues of Bank of England Notes as may have of England been made by the said Governor and Company, or by their Notes since

Order or Direction, since the said Twelfth Day of November 12th Nov. 1837 One thousand eight hundred and fifty-seven, although beyond in excess of those autho- the Amount authorized by Law, and all Acts necessary for rized by Law

the making of such Issues, and for the acquiring and taking confirmed and made valid. since the said Twelfth Day of November One thousand eight

hundred and fifty-seven Securities in the Issue Department of the Bank of England beyond the Amount authorized by Law, shall be confirmed and made valid; and the said Governor and Company, and all Persons who have been concerned in such Issues or in doing or advising any such Acts as aforesaid, are hereby indemnified and discharged in respect thereof, and all Indictments and Informations, Actions, Suits, Prosecutions, and Proceedings whatsoever commenced or to be commenced against the said Governor and Company or any Person or Persons in relation to the Acts and Matters aforesaid, or any

of them, are hereby discharged and made void. The Restric- II. So much of the said Act of the Seventh and Eighth

Years of Her Majesty as limits the Amount of the Securities Amount of

to be acquired and taken in the Issue Department of the Bank Securities to be taken in of England shall be and be deemed to have been suspended as the Issue De- from the Twelfth Day of November One thousand eight hundred partment suspended.

and fifty-seven, and shall continue suspended until the Expiration of Twenty-eight Days after the First Meeting or Sitting of Parliament in the Year One thousand eight hundred and

tion on the

fifty-eight, subject to the Proviso herein-after contained, and during such Suspension the Provisions of the said Act in relation to the Issue of Bank of England Notes shall be construed and take effect as if the Restriction on the Amount of Securities in the said Issue Department, and the Prohibition of the Increase of such Amount and of the Issue of additional Bank of England Notes thereon, had not been contained in the said Act: Provided always, that if before the Expiration of the Time herein-before limited the Governor and Company of the Bank of England give public Notice that they have reduced the minimum Rate of Interest required by them below the Rate of Ten per Centum per Annum, the said Suspension shall cease.

III. Upon or before the Expiration or Cesser of the Sus- The Issues in pension aforesaid the Excess of Issues herein-before confirmed excess to be

reduced on or shall be reduced to the Amount which would have been autho- before the rized by Law if this Act had not been passed ; and, subject Expiration of to the Indemnity and Discharge hereby given, all the Provisions the Suspensiou. of the said recited Act shall, after such Expiration or Cesser, be and remain in full Force.

CAP. II.
An Act to settle Annuities on Lady Havelock and

Sir Henry Marshman Havelock, in consideration of
the eminent Services of the late Major General
Havelock.

[22d March 1858.] • Most Gracious Sovereign, WE, Your Majesty's most dutiful and loyal Subjects, the

Commons' of the United Kingdom of Great Britain • and Ireland, in Parliament assembled, duly considering the

Approbation graciously signified by Your Majesty of the eminent and distinguished Services rendered by the late

Major General Havelock, in Command of a Body of British • and Native Troops in India, and particularly in the gallant

and successful Operations undertaken for the Relief of the • Garrison of Lucknow, do 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 Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, as follows:

I. An Annuity of One thousand Pounds shall be paid to Power to grant Hannah Shepherd Lady Havelock, Widow of the late Major an Annuity General Henry Havelock of Lucknow, Knight Commander of Lady Havelocky the Most Honourable Order of the Bath, for the Term of her Widow of Sir natural Life; and a like Annuity of One thousand Pounds H. Havelock; shall be paid to Sir Henry Marshman Havelock, Baronet, eldest nuity to Sir H. Son of the said late Major General Havelock, for the Term of M. Havelock, the natural Life of the said Sir Henry Marshman Havelock, Bart. A 2

and

and the said Annuities shall issue and be payable out of the Consolidated Fund of the United Kingdom of Great Britain and Ireland, and shall be deemed to have commenced and taken effect from the Fifth Day of February One thousand eight hundred and fifty-eight, and the First Payment of a proportionate Part thereof respectively for the Period from such Commencement to the Fifth Day of April One thousand eight hundred and fifty-eight shall be made on the said Fifth Day of April One thousand eight hundred and fifty-eight, and such Annuities shall thereafter be paid quarterly, (that is to say,) on the Fifth Day of July, the Tenth Day of October, the Fifth Day of January, and the Fifth Day of April in every Year; and the Receipts of the said Lady Havelock and Sir Henry Marshman Havelock respectively, or of such other Persons as shall be duly authorized and appointed by her or him to receive her or his respective Annuity, shall be a good and sufficient Discharge for the Payments thereof; and the said Annuities shall be clear of all Taxes and all other Charges whatsoever, except Income Tax.

CAP. III.

Sum not ex

An Act for enabling the East India Company to raise

Money in the United Kingdom for the Service of the Government of India. [22d March 1858.] WH

HEREAS in consequence of the Disturbances in India

it is expedient that the East India Company should • be enabled to raise Money in the United Kingdom on the • Credit of the Revenues of India :' Be it therefore enacted by the Queen's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the

Authority of the same, as follows: Power to East 1. It shall be lawful for the Court of Directors of the India Company East India Company, under the Direction and Control of the

Board of Commissioners for the Affairs of India, at any Time ceeding Eight or Times before the Thirtieth Day of April One thousand eight Millions.

hundred and fifty-nine, or if Parliament be then sitting before the End of the then Session of Parliament, to raise in the United Kingdom for the Service of the Government of India any Sum or Sums of Money not exceeding in the whole Eight

Millions as herein-after provided. Money may be

II. It shall be lawful for the said Court of Directors, under raised on Bonds such Direction and Control as aforesaid, from Time to Time to of the Com

borrow upon Bonds, to be issued under the Common Seal of pany.

the said Company, all or any Part of the Money hereby authorized to be raised as aforesaid, such Bonds to be for such respective Amounts payable after such Notice and at such, Rate or Rates of Interest as the said Court of Directors, under such Direction and Control, may think fit.

III. For

III. For raising all or any Part of the Money by this Act When Money authorized to be raised which may not be borrowed on Bond not borrowed as aforesaid, it shall be lawful for the said Court of Directors, Debentures under such Direction and Control as aforesaid, to issue from may be issued Time to Time Debentures, under the Common Seal of the said by the Com

pany. Company, for such respective Amounts and at such Rate or Rates of Interest as the said Court of Directors, under such Direction and Control as aforesaid, think fit, such Debentures to be issued at or for such Prices and on such Terms as may be determined by the said Court of Directors, under such Direction and Control as aforesaid.

IV. All Debentures issued under the Authority of this Act As to Payment shall be paid off at Par at a Time or Times to be mentioned of Principal in such Debentures respectively, and the Interest on all such Debentures.

and Interest on Debentures shall be payable half-yearly on such Days as shall be mentioned therein, and the Principal Monies and Interest secured by such Debentures shall be payable at the Treasury of the said Company in London.

V. All Debentures issued under the Authority of this Act, Debentures and all Right to and in respect of the Principal Monies secured transferable thereby, and all Interest due and accruing thereon, shall be by Delivery.

. transferable by the Delivery of such Debentures respectively.

VI. The whole Amount of Principal Monies to be secured The whole by Bonds or Debentures, or by Bonds and Debentures, to be secured by issued under this Act, shall not exceed Eight Millions; and no Bonds, &c. Money shall be raised or secured under the Authority of this not to exceed

Eight Millions. Act after the said Thirtieth Day of April One thousand eight hundred and fifty-nine, or if Parliament be then sitting after the End of the then Session of Parliament, save for or upon the Repayment of Principal Monies previously secured under this Act, as herein-after provided.

VII. Upon or for the Repayment of the Principal Money Power to raise secured under the Authority of this Act, or any part of such Money for

Repayment of Money, the Court of Directors may, at any Time, under such Principal Direction and Control as aforesaid, borrow or raise by Bonds or Monies. Debentures as aforesaid all or any part of the Amount of Principal Money repaid or to be repaid, and so from Time to Time as all or any Part of any Principal Money for the Time being secured under this Act may require to be repaid ; but the Amount to be secured by new Securities shall not in any Case exceed the Principal Money required to be repaid. VIII. All Bonds and Debentures to be issued under this Securities to

be charged Act, and the Principal Monies and Interest thereby secured,

on Revenues shall be charged on and payable out of the Revenues of the of India. Territories under the Government of the said Company, in like Manner as other Liabilities incurred on account of the Government of the said Territories.

IX. The Provisions contained in Section Four of the Act Provision as of the Session holden in the Fifth and Sixth Years of King to Composition William the Fourth, Chapter Sixty-four, with respect to the ties on India Composition and Agreement for the Payment by the said Bonds extended

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