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East India Company Act 1697
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LVII.The General Society and Companies in Joint Stock, may be impowered by Charters to make Bye-Laws and inflict Penalties.
And be it further enacted by the Authority aforesaid That it shall and may be lawful to and for His Majesty by His said Charter or Charters of Incorporation to impower the said General Society and their Successors and such Company as shall be erected to trade with a joynt Stock a aforesaid and their Successors or either of them severally to make reasonable Laws Constitutions Orders and Ordinances from time to time for the good Government of the said Trade to the East Indies and other the Parts aforesaid and of the Traders Factors Agents Officers and other concerned in the same and to inflict reasonable Penalties and Punishments by Imprisonments Mulcts Fines or Amerciaments for any Breach or Breaches thereof and to levy such Mulcts Fines or Amerciaments to the Use of such General Society or Company respectively.
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