National Debt Reduction Act 1823

II All Stock in Names of Commissioners of National Debt to be cancelled.

And be it further enacted, That all Capital Stock (save and except the Capital Stock hereinafter directed to be carried to a new and separate Account) and all Annuities for Terms of Years, which on the Fifth Day of April One thousand eight hundred and twenty-three, shall stand or be placed in the Names of the Commissioners for the Reduction of the National Debt, in the Books of the Governor and Company of the Bank of England, or of the Governor and Company of Merchants of Great Britain trading to the South Seas and other Parts of America, and for encouraging the Fishery, or of the Governor and Company of the Bank of Ireland, either on account of the Sinking Fund, or for the Purchase of Life Annuities, by virtue of any Act or Acts now in force, shall on and from the said Fifth Day of April One thousand eight hundred and twenty-three, (except as hereinafter is excepted) be cancelled in the Books of the said Banks and South Sea House respectively; and the Interest or Dividends which would have been due and payable on the said Capital Stock upon or after the said Fifth Day of April, shall cease to be issued, or to be charged upon the said Consolidated Fund; and no such Interest or Dividend shall be chargeable or charged or issued oft the said Fifth Day of April, or on any subsequent Day.