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Bank of England Act 1694

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XIX Their Majesties may appoint Rules for transferring; and may make the subscribers a Corporation, subject to Redemption.E+W

And That it shall and may be lawfull to and for theire Majesties by Letters Patents under the Greate Seale of England to limitt directe and appointe how and in what manner and proportions and under what rules and directions the said summe of Twelve hundred thousand pounds parte of the said summe of Fifteene hundred thousand pounds and X1the said yearely summe of One hundred thousand pounds parte of the said yearely summe of One hundred and forty thousand pounds and every or any parte or proportion thereof may be assigneable or transferrable assigned or transferred to such person or persons only as shall freely and voluntarily accepte of the same and not otherwise and to incorporate all and every such Subscribers and Contributors theire . . . F1 Successors or Assignes to be one Body Corporate and Politick by the name of The Governor and Company of the Banke of England and by the same name of The Governor and Company of the Banke of England to have perpetuall succession and a Comon Seale and that they and theire Successors by the name aforesaid shall be able and capable in Lawe to have purchase receive possesse enjoye and retaine to them and theire Successors Lands Rents Tenements and Hereditaments of what kinde nature or quality soever And alsoe to sell grant demise alien or dispose of the same And by the same name to sue and implead and be sued and impleaded answere and be answered in Courts of Record or any other place whatsoever and to doe and execute all and singular other matters and things by the name aforesaid that to them shall or may appertaine to doe subjecte neverthelesse to the proviso and condition of Redemption herein after mentioned:·

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X1“the said yearly sum of one hundred thousand pounds” means the sum annually appropriated to the benefit of the subscribers of the sum of £1,200,000

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