East India Company Act 1697

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

By the Name of the General Society, entitled to Advantages given by an Act of Parliament for advancing a Sum not exceeding £2,000,000 for the Service of the Crown of England; subject to the aforesaid Proviso for Redemption.

And be it further enacted by the Authority aforesaid That it shall and may be lawful for His Majesty by Letters Patents under the Great Seal of England to incorporate all and every the Person and Persons Natives and Foreigners Bodies Politick and Corporate who shall so subscribe or for whom such Subscriptions shall be made and uponwhose Subscriptions the First Tenth part shall be paid as aforesaid and all and every Person and Persons Bodies Politick and Corporate who as Executors Administrators Successors or Assigns or by any other lawful Title derived or to be derived from by or under the said original Subscribers of or towards the said Sum of Two Millions at any time or times hereafter shall have or be intituled to any Part Share or Interest of or in the yearly Fund by this Act settled as aforesaid so long as they respectively shall have any such Part Share or Interest therein to be one Body Politick and Corporate by the Name of the General Society intituled to the Advantages given by an Act of Parliament for advanceing a Sum not exceeding Two Millions for the Service of the Crown of England and by that Name shall have perpetual Succession and a Common Seal And that they and their Successors by the Name aforesaid shall be able and capable in Law to have purchase receive enjoy possess and retain to them and their Successors Lands Rents Tenements and Hereditaments of what Kind Nature or Quality soever and also to sell grant demise alien or dispose of the same and by the same Name to sue and implead be sued and impleaded answer and be answered in Courts of Record or any other Place whatsoever and to do and execute all and singuler other Matters and Things by the Name aforesaid that to them shall or may appertain to do subject nevertheless to the Proviso or Condition of Redemption and to such Restrictions and Limitations as are hereafter in this Act expressed.