Bank Charter Act 1844

VIII Bank to allow 180,000l. per Annum.

And be it enacted, That from and after the said Thirty-first Day of August One thousand eight hundred and forty-four the Payment or Deduction of the annual Sum of One hundred and twenty thousand Pounds, made by the said Governor and Company, under the Provisions of the said Act passed in the Fourth Year of the Reign of His late Majesty King William the Fourth, out of the Sums payable to them for the Charges of Management of the Public Unredeemed Debt, shall cease, and in lieu thereof the said Governor and Company, in consideration of the Privileges of exclusive Banking, and the Exemption from Stamp Duties, given to them by this Act, shall, during the Continuance of such Privileges and such' Exemption respectively, but no longer, deduct and allow to the Public, from the Sums now payable by Law to the said Governor and Company for the Charges of Management of the Public Unredeemed Debt, the annual Sum of One hundred and eighty thousand Pounds, anything in any Act or Acts of Parliament, or in any Agreement, to the contrary notwithstanding: Provided always, that such Deduction shall in no respect prejudice or affect the Eights of the said Governor and Company to be paid for the Management of the Public Debt at the Rate and according to the Terms provided in an [48 G. 3. c. 4.] Act passed in the Forty-eighth Year of the Reign of His. late Majesty King George the Third, intituled An Act to authorize the advancing for the Public Service, upon certain Conditions, a Proportion of the Balance remaining in the Bank of England, for the Payment of Unclaimed Dividends, Annuities, and Lottery Prizes, and for regulating the Allowances to be made for the Management of the National Debt.