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Bank of England Act 1696

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This is the original version (as it was originally enacted). This item of legislation is currently only available in its original format. The electronic version of this Act has been contributed by British History Online and is taken from the printed publication.
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  1. Introductory Text

  2. Recital of 4 W. & M. c. 1. § 54.

  3. II.12 Car. II. c. 19.

  4. III.Proviso for Clauses in any of the said Acts intended to be perpetual.

  5. IV.Duties on Wines and Vinegar, by 1 Jac. II. c. 3. continued until 1st Aug. 1706; and the said Act continued until 1st Aug. 1706.

  6. V.1 Jac. II. c. 4. which was continued as to Tobacco only, continued until 1st Aug. 1706.

  7. VI.Duty on Tobacco to be paid according to 7 & 8 W. III. c. 10.

  8. VII.Additional Duties on Goods and Merchandizes, by 2 W. & M. Sess. 2. c. 4. continued until 1st Aug. 1706.

  9. VIII.Additional Impositions on Goods and Merchandizes, by 4 W. & M. c. 5. and the said Act, continued until 1st Aug. 1706.

  10. IX.4 W. & M. c. 5. § 1. Lapis Calaminaris exported, to pay only 2s. per Tun over and above the Rate in the Book of Rates.

  11. X.Bar or hammered Iron (Exception) imported from Ireland discharged of the additional Duties.

  12. XI.Proviso for other Acts concerning the said Duties.

  13. XII.5 & 6 W. & M. c. 21.

  14. XIII.Proviso for other Acts concerning the said Duties.

  15. XIV.Duties on Marriages, Births, and Burials, by 6 & 7 W. 3. c. 6. continued until 1st Aug. 1706.

  16. XV.Duties on Houses, by 7 & 8 W. III. c. 18. continued until 1st Aug. 1706.

  17. XVI.The King may appoint Officers for surveying the Duties on Marriages, &c. and for numbering Windows in Houses not assessed at 10s.; Officers to supervise the Registers of Marriages, &c.; and with the Assistance of Constables, &c. to view Houses not rated 10s; and to certify Under-ratings to the Commissioners, who are to cause the Rate to be set.

  18. XVII.Duty for Servants in Husbandry to be paid by the Master, &c.

  19. XVIII.House inhabited by Two or more Families, to pay as one.

  20. XIX.Edifices in Inns of Court, &c. to pay for Windows as if an entire House.

  21. XX.Stock of the Bank of England to be enlarged by new Subscriptions.

  22. XXI.Stock of the Bank to be computed.; Old and new...

  23. XXII.The King may appoint Commissioners to take Subscriptions made on...

  24. XXIII.Any Persons may subscribe Money for inlarging the Capital Stock.;...

  25. XXIV.Bank to allow £8 per Cent. on Tallies brought in until the Principal be paid off.

  26. XXV.And receive £8 per Cent. Interest for One Fifth Part of the Subscriptions until paid off.

  27. XXVI.Subscribers to the Capital Stock incorporated with the present Governor and Company, &c.

  28. XXVII.After 1st Aug. 1710, Bank to cease, upon Repayment of several Sums mentioned.

  29. XXVIII.During the Continuance of the Bank of England, no other to be established.

  30. XXIX.Interest on Tallies or Orders brought in as herein mentioned to be taken as so much Principal Money.

  31. XXX.Recital of 5 & 6 W. & M. c. 28. § 25.

  32. XXXI.Bank Stock and Profit thereof exempted from Taxes.

  33. XXXII.Growing Interest on Tallies until Principal paid, and the Principal and the yearly Fund of £1,000,000 applied to the Uses of all Members of the Corporation in proportion to their Shares.

  34. XXXIII.Bank Stock to be Personal and not Real Estate; and shall go to Executors and not to the Heir.

  35. XXXIV.No Contract for buying or selling Bank Stock to be good, till registered in the Bank Books.

  36. XXXV.No Act of the Corporation to subject the particular Share of any Member to Forfeiture; but such Share to remain entire.

  37. XXXVI.Forging or counterfeiting the Common Seal, or any Bank Note,...

  38. XXXVII.Officers of Exchequer to keep true Accounts of all Monies due to the Bank, on Account of the yearly or other Funds.

  39. XXXVIII.Monies arising from the Duties, continued by this Act.

  40. XXXIX.Monies of the said General Fund hereby appropriated, arising before...

  41. XL.Interest out of the last mentioned Fund, how to be satisfied.

  42. XLI.Overplus, after Payment of the said Interest, to be applied to pay the Principal.

  43. XLII.Application of the General Fund; Treasury, on or before 26th...

  44. XLIII.The said Monies to be paid out to the Bank and others entitled to the same, and not divertible.

  45. XLIV.Duties of former Acts applied as by such Acts is required.

  46. XLV.If Judgment be given against the Bank, yearly Payments, &c....

  47. XLVI.Company may transcribe Dockets of Extents, &c. paying the usual Fees.

  48. XLVII.No Member to be adjudged a Bankrupt.

  49. XLVIII.Money due on Tallies subscribed into the Capital Stock of the Bank, to be divided so soon as received, or within 4 Months after.

  50. XLIX.Debts of the Bank not to exceed the Value of the Capital undivided Stock.

  51. L.If at the End of One Year the Duties hereby...

  52. LI.Present Governor and Directors to continue till 24th June 1697.

  53. LII.Not above Two Thirds of the old Directors to be chosen.

  54. LIII.Additional Duties on Salt.; For Salt imported, 2d per Gallon.;...

  55. LIV.The said Duties to be levied as by 5 W....

  56. LV.On Exportation of Salt, Security for Duties discharged upon Certificate and Oath.

  57. LVI.Application of the Duties of this Act. upon Salt.

  58. LVII.Recital that many Persons entitled to Tallies may be induced to sell or dispose of them at an unreasonable; Allowance.

  59. LVIII.No Assignment of Order or Talley to be good, unless made in Writing, and signed by the Party making the same; or under the common Seal of a Corporation, &c.; and if of Money payable at the Exchequer, then to be entered in the Exchequer in 10 Days after signing, and Oath made thereon; and an Affidavit that no further Allowance taken.

  60. LIX.Officers in the Exchequer, Excise, and Post Office to attend daily for registering Assignments, and administering the Oaths; without Fee;

  61. LX.Brokers, &c. taking above 28. 6d. per Cent. for Brokerage, &c.

  62. LXI.Claimers of Orders purchased before 10th June 1697 not obliged...

  63. LXII.Affidavit to be in Writing, and filed.

  64. LXIII.Recital of c. 6. ante.

  65. LXIV.Bills to bear 5d. a Day per Cent. Interest till paid into the Exchequer.

  66. LXV.Bills paid into the Exchequer to be signed by Person paying, &c.

  67. LXVI.Treasury may contract for lending Money to exchange Exchequer Bills...

  68. LXVII.Contractors Names, &c. to be registered in the Auditor's Office, and Interest to be paid quarterly.

  69. LXVIII.Until the King by Proclamation make known when Exchequer Bills may be exchanged for ready Money, the said Bills to be current only for Aids, &c. of 1697, afterwards for all Revenues, &c.

  70. LXIX.7 & 8 W. III. c. 22. § 3.

  71. LXX.Tellers in the Exchequer to receive the said Monies, and...

  72. LXXI.7 & 8 W. 3. c. 31.

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