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East India Company Act 1697
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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.
And be it further enacted That from and after the granting of the said Letters Patents for Incorporation of the General Society as aforesaid the said yearly Sum of One hundred and sixty thousand Pounds as aforesaid or so much thereof as shall be proportionable to the several Sum or Sums to be subscribed as aforesaid shall be issued and paid to the said General Society and their Successors or to such Treasurer or Receiver General as they shall appoint by their Common Seal to receive the same who shall from time to time have and receive the said Moneys in Trust for the severall and respective Members of the said General Society whether they be Bodies Politick or Natural according to the Proportion of their several Shares and Interests in the General Stock.
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