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BANK OF IRELAND ACT 1821
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CHAPTER LXXII.
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An Act to establish an Agreement with the Governor and Company of the Bank of Ireland, for advancing the Sum of Five hundred thousand Pounds Irish Currency; and to empower the said Governor and Company to enlarge the Capital Stock or Fund of the said Bank to Three Millions. [2d July 1821.]
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[Preamble.]
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[S. 1 (authorising the advance of five hundred thousand pounds by the Bank of Ireland for the public service) and s. 2 rep. 36 & 37 Vict. c. 91. (S.L.R.)]
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Capital stock of the Bank to be extended from 2,500,000l. to 3,000,000l.
The increase of 500,000l. to be divided among the proprietors, at the rate of 20l. for every 100l. they possess.
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3. In consideration of the said advance of five hundred thousand pounds for the public service as aforesaid, the capital stock of the Bank of Ireland shall be and the same is hereby increased and extended from the sum of two millions five hundred thousand pounds Irish currency, of which the same now consists, to the sum of three millions Irish currency, making an increase or addition of five hundred thousand pounds capital stock; and the said sum of five hundred thousand pounds capital stock shall be appropriated and divided amongst the several persons, bodies politic and corporate, who shall be proprietors of the capital stock of the Bank of Ireland on the twenty-fourth day of June one thousand eight hundred and twenty-one, at the rate of twenty pounds for every one hundred pounds of bank stock of which such persons, bodies politic and corporate shall then be respectively proprietors, or which they shall have standing in their respective names in the books kept by the Bank of Ireland for the entry and transfer of such stock, and so in proportion for a greater or lesser sum; and such division and appropriation shall be placed to the credit of the respective names of such persons, bodies politic and corporate, in the books of the said governor and company accordingly; and all such persons, bodies politic and corporate shall, from the time of such division and appropriation, be lawfully entitled to the additional sum of bank stock so placed in or to the credit of their respective names, and shall respectively be entitled to be paid the same rate of dividend thereon, and to possess and enjoy the same profits, privileges, and advantages in respect thereof, in like manner to all intents and purposes as they are or shall be entitled to be paid, possess, and enjoy, in respect of the bank stock which shall stand in their respective names previous to the said twenty-fourth day of June one thousand eight hundred and twenty-one.
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Increased capital stock to be assignable as original stock, and be free from taxes, &c.
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4. The capital stock of the Bank of Ireland, so increased as aforesaid, shall be assignable and transferrable in the same manner as the original capital stock of the said governor and company was assignable and transferrable before the making of this Act, and, together with the produce thereof, shall be free from parliamentary taxes, charges, and impositions, and all other taxes, charges, and impositions whatsoever; and the transfers or assignments of stock or additional stock in the books of the said company shall not hereafter be or be made liable to any higher or greater stamp or other duties than are now payable for the transfers or assignments of their present stock, or any part thereof; anything in this Act contained or in any other Act or Acts of Parliament to the contrary in anywise notwithstanding.
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Notes of the Bank of Ireland to be received in payment of the public revenue.
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5. Until repayment to the Bank of Ireland of the said sum of five hundred thousand pounds Irish currency, and all interest to become due thereon, the promissory notes of the Bank of Ireland, expressed to be paid to bearer on demand (called Bank of Ireland notes), shall be received in payment of all sums of money which now are or at any time hereafter shall become payable in Ireland, for or in respect of any part of the public revenue of Ireland, and shall be accepted and received accordingly by all collectors, receivers, and other officers of the revenue of Ireland authorized to receive the same, if offered to be so paid, fractional parts of twenty shillings only excepted.
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Persons in partnerships residing 50 miles from Dublin may borrow any sum of money on bills and notes payable on demand, without being liable to penalty.
Irish Act, 21 & 22 Geo. 3. c. 16.
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6. It shall and may be lawful for any number of persons in Ireland, united or to be united in societies or partnerships, and residing and having their establishments or houses of business at any place not less than fifty miles distant from Dublin, to borrow, owe, or take up any sum or sums of money on their bills or notes payable on demand, and to make and issue such notes or bills accordingly, payable on demand, at any place in Ireland exceeding the distance of fifty miles from Dublin, all the individuals composing such societies or copartnership being liable and responsible for the due payment of such bills and notes; and such persons shall not be subject or liable to any penalty for the making or issuing such bills or notes; anything in an Act made in the Parliament of Ireland hold en in the twenty-first and twenty-second years of the reign of his late Majesty King George the Third, intituled “An Act for establishing a bank by the name of “the governor and company of the Bank of Ireland,” to the contrary notwithstanding.
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Proviso against granting of other privileges to partnerships.
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7. Provided always, that no further or other power, privilege, or authority shall until after payment to the said governor and company of all sum and sums of money which now are or hereafter shall or may become due to them from government, be granted to any copartnership or society of persons whatsoever, contrary to the laws now in force for establishing and regulating the Bank of Ireland, save and except the power of enabling such societies and copartnerships as aforesaid, residing and carrying on their business not less than fifty miles from Dublin, to sue and be sued in the name of a public officer, should Parliament hereafter think fit to grant such a power.
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[S. 8 rep. 36 & 37 Vict. c. 91. (S.L.R.)]
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