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Bank of England Act 1696
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LXVIII.Until the King by Proclamation make known when Exchequer Bills may be exchanged for ready Money, the said Bills to be current only for Aids, &c. of 1697, afterwards for all Revenues, &c.
[X1Provided always and be it enacted by the Authority aforesaid That until such Time as his Majesty by his Royal Proclamation to be issued by the Advice of his Privy Council shall be pleased to publish and make knowne that the said Comissioners of his Majesties Treasury or Three or more of them or the High Treasurer for the Time being shall (by such Covenants or Agreements made with Persons of Ability as aforesaid) have sufficiently secured and made Provision that all Persons who att the said Receipt of Excheq[uer] or att any the said publick Offices shall have any of the said Bills for satisfaction of their Tallies or Orders of Loan or for any other Payments whatsoever may have such Bills exchanged for ready Money the said Bills so to be made forth for the said Fifteen hundred thousand pounds or any part thereof shall be current onely for the Aids Taxes or Supplies granted or to be granted for the Service of the Warr for the Yeare One thousand six hundred ninety seven exclusive of the said Aid of Three shillings in the Pound according to the tenour and true meaning of the said former Act in that behalfe and that after the said Proclamation shall be issued and not sooner the said Bills so authorized to be issued as aforesaid shall passe and be current for all Revenues Aids Taxes Supplies or other Payments to his Majestie according to the true meaning of this present Act Any thing herein contained to the contrary notwithstanding.]
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X1On a separate Schedule annexed to the Original Act.
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