Bank of England Act 1696

XXV. And receive £8 per Cent. Interest for One Fifth Part of the Subscriptions until paid off.

After Subscriptions compleated, Governor to deliver a Schedule of the Tallies, &c. to the Auditor of Exchequer.

And in regard the said Governor and Company are to accept One fifth Part of the said Subscriptions in Bank Bills or Bank Notes and are already possessed of several Tallies or Orders charged upon the Aids or Funds before mentioned to a much greater Value than the said Fifth Part in Bank Bills or Bank Notes will amount to Itt is hereby further enacted That the Interest payable to the said Governor and Company of the Bank of England upon so many of the said Tallies or Orders whereof the Principal shall be equal to the amount of the said Fifth Part to be subscribed in Bank Bills or Bank Notes shall be augmented and raised to the Rate of Eight pounds per Centum per Annum from the said Foure and twentieth Day of June until the same shall be actually paid off & discharged the said Governour and Company after the said Subscriptions shall be compleated delivering to the Auditor of the Receipt of Exchequer a Schedule fairely written in Parchment and signed by the Governour or Deputy Governour containing the Tallies and Orders not to exceed as aforesaid whereupon they shall desire their Interest to be so augmented to the said Rate of Eight pounds per Centum per Annum and the said Rate of Eight pounds per Centum per Annum shall be payable to the said Governour & Company and their Successors out of the respective Funds or Provisions by this Act made or granted for that Purpose the several Acts of Parliament by which the said Funds are settled or any of them or any Clause Proviso Matter or Thing in them or any of them contained or any other Act Law Statute Usage or Custome whatsoever to the contrary thereof in any wise notwithstanding.