National Debt Reduction Act 1823

V Certain Provisions in 53 G.3 c.35 and 56 G.3 c.70 repealed.

And be it enacted, That so much of an Act passed in the Fifty-third Year of the Reign of His late Majesty King George the Third, intituled An Act to alter and amend several Acts passed in His present Majesty's Reign, relating to the Redemption of the National Debt, and for making further Provision in respect thereof; and so much of another Act passed in the Fifty-sixth Year of the Reign of His late Majesty King George the Third, intituled An Act to alter and amend several Acts relating to the Redemption of the National Debt of Ireland, and to make further Provision in respect thereof; which require that whenever an Amount of Capital Funded Debt of Great Britain and Ireland respectively, shall have been purchased or transferred to the said Commissioners, as shall be equal to the whole Capital, and which shall have produced an Interest or yearly Dividend equal in Amount to the whole Annual Charge in perpetual Annuities of each Loan contracted since One thousand seven hundred and eighty-six, that a Certificate and Declaration thereof shall be made by the said Commissioners, according to the Directions contained in the said Acts; and the Amount of the Public Debt to which such Certificate and Declaration shall relate, shall from Time to Time be deemed and taken to he wholly satisfied and discharged, and an equal Amount of Capital Stock, standing in the Names of the said Commissioners, shall be considered to be redeemed, and shall from Time to Time be cancelled, shall be and the same is hereby