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All Money paid into Exchequer of Ireland under this Act shall be laid out in Stock at the Bank of Ireland in the Name of the Treasury, not transferable but by Authority of Parliament; and the Interest applicable as Land Revenue.
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XIX. And be it further enacted, That all and every Sum and Sums of Money which shall be paid into the Receipt of His Majesty’s Exchequer, in Ireland, according to the Course of the said Exchequer, under and by virtue of this Act, on account of the Sale of any Quit Rent, Crown Rent, or other Rent, or of any Lands, Tithes, Tenements, or Hereditaments, shall from Time to Time be laid out by the Vice Treasurer of Ireland for the Time being, in the Purchase of Stocks, Funds, or Annuities transferable at the Bank of Ireland, in the Name of the Lord High Treasurer, or the Commissioners, of His Majesty’s Treasury of the United Kingdom of Great Britain and Ireland for the Time being; and the Governor and Company of the Bank of Ireland are hereby authorized and required to permit Transfers, to be made into the Name of the Lord High Treasurer or Commissioners of the Treasury, of the Stock, Funds, or Annuities to be purchased accordingly, and such Transfer to be accepted by the said Vice Treasurer of Ireland for and in the Name of the said Lord High Treasurer or Commissioners of the Treasury; and the said Vice Treasurer is hereby authorized and requited to accept the same accordingly; and all and singular the Stock, Funds, and Annuities so to be purchased shall remain invested in the Names of the Lord High Treasurer, or the Commissioners of His Majesty’s Treasury for the Time being; and no Part of such Stock, Funds, or Annuities shall be transferred or transferable at any Time without the Authority of Parliament; but all the Interest or Dividends on Such Stock, Funds, or Annuities, shall be from Time to Time paid by the Governor and Company of the Bank of Ireland, into the Hands of such Person or Persons as shall be appointed to receive such Interest or Dividends, by Warrant under the Hand and Seal of the Lord High Treasurer, or of the Commissioners of His Majesty’s Treasury, or any Three of them, for the Time being, and shall by force and virtue of this Act be deemed and taken in Law to be Part of the said Land Revenue of the Crown in Ireland, and shall be from Time to Time answered, accounted for, and appropriated to such and the same Uses and Purposes as the Land Revenue of the Crown in Ireland now is or would hereafter be liable to be applied and appropriated to in case this Act had not been made.
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