East India Company Act 1697

1. Introductory Text

2. We Your Majesties most dutiful and loyal Subjects the Commons...

3. II. The Duty on Foreign Salt to be paid by the Importer.;

4. III. The Duties to be managed by Commissioners of Excise; and Officers appointed by them.

5. IV. Makers and Proprietors of Salt to make true Entries with the Officers; and to take Warrant for removing Salt, gratis; upon Payment of or Security for Duty within Six Months after Entry.

6. V. Discount at the Rate of £10 per Cent. per Ann. for ready Money.

7. VI. Officers may seize Salt conveying away before due Entry made, and without Warrant for Removal.

8. VII. Oath by Retailer or Shopkeeper that Duty paid or secured before Salt be shipped.

9. VIII. Masters of Ships, before Warrant for landing, &c. had, to deliver Particulars to the Collectors, and make Oath, as herein mentioned.;

10. IX. No Fee for Debentures, &c.

11. X. Allowances for Fish exported, viz.

12. XI. Officers to deliver Certificates of Duty paid, gratis.;

13. XII. Salt not made in England, Wales, or Berwick, to pay as Foreign.;

14. XIII. In Action for executing Act,;

15. XIV. No Writ of Certiorari to supersede Proceedings upon Orders of the Commissioners. &c.

16. XV. Salt delivered without Notice to Officer, Forfeiture and Penalty.

17. XVI. Salt, after Duty repaid, landed before Duty be again paid, &c.;

18. XVII. Subjects of England exporting Salt in a Ship which perishes at Sea, &c. allowed to buy like Quantity without Duty; upon Proof made of Loss, and Certificate thereof.

19. XVIII. Salt, after Entry, may be warehoused, on Warrant.

20. XIX. No Person obliged by Contract made before 25th Dec. 1698, to deliver Salt, unless Buyer pay Seller the Duty.

21. XX. Rock Salt to be entered by Weight, 120lbs. Weight a Winchester Bushel.

22. XXI. Refiners of Rock Salt having before paid the Duty, to have an additional Abatement of 2s. 4d. per Bushel. Salt weighed in the Presence of Officer, and Oath taken as herein mentioned.

23. XXII. Charges of Management to be paid out of the Duties.

24. XXIII. Salt made from Rock Salt and Salt either imported or Home-made, charged.

25. XXIV. All Salt (except Rock Salt) to be ascertained at 56lbs. Weight to the Bushel.

26. XXV. Salt brought from Scotland and all imported Salt, brought in or landed before Entry, forfeited, and Penalty.

27. XXVI. Collectors to provide Scales, &c. at every Salt-work;

28. XXVII. Officers to deliver as many Warrants or Permits to Salt Carriers as they desire, gratis.

29. XXVIII. Salt (except Foreign) sold at 561bs. Weight a Bushel.; Penalty £5.

30. XXIX. Lord Mayor and Court of Aldermen of London, to ascertain and publish the Price of Salt within the City of London and Bills of Mortality

31. XXX. Recital of Cap. 25. ante, § 7. 9. 10. 24. 28. 30. 31. 40. the additional Duties on Stamped Vellum, Parchment, and Paper, and that Annuities at £8 per Cent. per Ann. ought to be secured for the Contributors of £2,000,000.

32. XXXI. Entries to be made thereof in Books in the Exchequer.

33. XXXII. Commissioners for managing the said Duties respectively, not paying duly into the Exchequer, &c. Forfeiture of Office and Incapacity, and Penalty.

34. XXXIII. Offices for Duties continued with Commissioners and Comptrollers of the Duties.

35. XXXIV. Comptrollers to keep distinct Accounts.;

36. XXXV. Collectors detaining Money, Dismission, to pay Interest at £12 per Cent. and liable to Treble Damages.;

37. XXXVI. From 29th Sept. 1698, £160,000 additional out of Duties on Salt and Stamps, to be the yearly Fund for answering Annuities to Subscribers of £2,000,000. Proviso for Deficiency.

38. XXXVII. The said additional Duties appropriated towards making good the said yearly Fund.;

39. XXXVIII. His Majesty may appoint Commissioners for taking Subscriptions till 29th Sept. 1698, from any Persons (except the Bank of England) for £2,000,000.

40. XXXIX. Any Sums (not less than £100) may be subscribed.;

41. XL. If the First Payment be not made at the Time of subscribing, such Subscription shall be void.;

42. XLI. The Sums subscribed to be written in Words at Length as well as Figures; and attested.;

43. XLII. Each Subscriber to have an Annuity after the Rate of £8 per Cent. per Ann., to commence from Michaelmas 1698, and paid Quarterly.;

44. XLIII. Persons paying down One Tenth Part of Subscription, may defaulk after the Rate of £10 per Cent. per Ann. as herein mentioned.

45. XLIV. Commissioners, &c. to give Receipts to Subscribers; and enter same, &c.

46. XLV. Commissioners may be Subscribers.

47. XLVI. His Majesty may incorporate the Subscribers by Letters Patent.

48. XLVII. Sum Total of Subscriptions to be and be called the Principal Stock of the said Corporation.

49. XLVIII. Subscribers (of £500 and upwards) may meet at Guildhall in London, 10th Oct. 1698, or within 20 Days after Subscription completed, to elect Trustees.;

50. XLIX. If £2,000,000 not subscribed by 29th Sept. 1698, Subscribers to have only a proportionable Part of yearly Fund.

51. L. After the Charter is passed, the yearly Sum of £160,000, or a proportionable Part thereof to be paid to General Society or their Treasurer, in Trust for Members.

52. LI. If £2,000,000, or a Moiety thereof, be subscribed on or before 29th Sept. 1698.; Subscribers, their Executors, Successors, or Assigns, and all Persons licensed by them, may trade to the East Indies, &c.

53. LII. If the said £2,000,000, or a Moiety thereof, be subscribed on or before 29th Sept. 1698, all or any Persons entitled to particular Shares in the Principal Stock, may be incorporated into a Company, to trade with a Joint Stock,; by such proper Name as His Majesty shall think fit.

54. LIII. After the incorporating of such Company, the proportionable Part of yearly Fund belonging to Members to be paid to said Company or their Treasurer, in Trust for Members.

55. LIV. Every Member of the General Society, before permitted to trade, to take Oath before Two or more of the Trustees, to be faithful to the Society, and not to trade for more than allowed.

56. LV. Quakers may make a solemn Declaration to the same Effect.

57. LVI. All Persons trading in pursuance of this Act shall enter the Goods they export (Exception) in a Book, before the Lading thereof.

58. LVII. The General Society and Companies in Joint Stock, may be impowered by Charters to make Bye-Laws and inflict Penalties.

59. LVIII. Not making true Entries and Affirmations, Forfeiture of Goods and Penalty.

60. LIX. No Company or particular Person to trade before he has given Security to Commissioners of Customs that the Goods to be laden by or for them in the Indies, shall be brought to England without breaking Bulk (the Danger of the Seas, &c. excepted.);

61. LX. His Majesty, by Commission or Charters, &c. to direct in what Manner the Shares in the yearly Fund, and in the Stock in Trade, shall be assigned or transferred.

62. LXI. Stock to be deemed Personal Estates.

63. LXII. The said Annuities and Shares in Trade exempt from Taxes.

64. LXIII. Guardian or Trustee for Infant, may subscribe a Moiety of Money in Trust.

65. LXIV. No Member, in respect of his Stock, to be adjudged bankrupt; Foreign Attachment.

66. LXV. Recital of 8 & 9 W. III. c.20. § 28.

67. LXVI. An additional Duty of £5 per Cent. laid on all...

68. LXVII. Security before landing of Goods to be given for; Payment...

69. LXVIII. The said Duty to be managed by Commissioners of Customs.

70. LXIX. Upon Three Years Notice, after 29th Sept. 1711, and Repayment by Parliament of the said £2,000,000, or such Part thereof as shall be advanced, and all Arrears of said Annuities, then all Things granted by this Act to cease.

71. LXX. Additional Duty of 1s. 10d. per Pound Weight upon all wrought Silks imported from the East Indies after 29th Sept. 1698.

72. LXXI. Persons who may trade pursuant to this Act, to have the sole Trade to the East Indies, after 29th Sept. 1698.

73. LXXII. If in any one Year, after 29th Sept. 1699, the said Duties shall not be sufficient to satisfy the Payments appointed, such Deficiency made good out of the next Aids.

74. LXXIII. Proviso for present East India Company trading till 29th Sept. 1701.

75. LXXIV. Ships not in the Service of the said Company, cleared from England for the East Indies, before 1st July 1698, not liable to Forfeitures.

76. LXXV. The present East India Company to pay their just Debts, and their Estates made liable thereunto.

77. LXXVI. Every Society or Company, to be erected in pursuance of this Act, not to owe at any one Time more than the Value of their Capital Stock undivided.

78. LXXVII. Out of Monies contributed or to arise by any other Act of this Session (not particularly appropriated) there may be applied, To the Use of Mints, £29,209. To His Majesty's Household, &c.£400,000 and such Sums as may be necessary to satisfy the Premiums on Contracts for circulating Exchequer Bills.

79. LXXVIII. 1 W. & M. Sess. 2. c. 1

80. LXXIX. Recital of 8 & 9 W.III.c.28.§ 2