HC Deb 11 April 1853 vol 125 cc995-9
The CHANCELLOR OF THE EXCHEQUER,

in moving that the Report of the Committee of the whole House on these Acts be considered, said, that on the 6th Resolution, which provided that if the South Sea Company should on or before "the 3rd of June" signify their assent to commute their stock, he should propose to substitute the words "the 1st of July," because it had been represented to him that the South Sea Company would require to give three months' previous notice before the business connected with such commutation could be transacted. In Resolution 15, which provided that the trustees, &c., converting South Sea Stock should be indemnified, he proposed to insert the words, "as well as in respect of other stock."

The several Resolutions were then read, and, as amended, were agreed to.

Bill or Bills ordered to be brought in by Mr. Bouverie, Mr. Chancellor of the Exchequer, and Mr. James Wilson.

In answer to a question from Mr. WALPOLE,

The CHANCELLOR OF THE EXCHEQUER

said, that the notices required by the Resolutions were quite optional. The only notice to which the law had reference was in the case where the redemption was in money. The right hon. Gentleman then moved the Address to Her Majesty, of which he had given notice.

Resolved— That an humble Address be presented to Her Majesty, praying that Her Majesty will be graciously pleased to exercise the authority vested in Her Majesty, by an Act passed in the twelfth year of the reign of his late Majesty King George the First, intituled, 'An Act for granting to his Majesty the sum of one million, to be raised by way of lottery,' by giving Notice of Her Royal intention to redeem the Annuities created by the said Act, under the provisions of the Statute.

Ordered— That Mr. Speaker do give Notice, in the manner required by the Act passed in the twenty-fourth year of the reign of His late Majesty King George the Second, intituled, An Act for granting to His Majesty the sum of two millions one hundred thousand pounds, to be raised by Annuities and a Lottery, and charged on the Sinking Fund, redeemable by Parliament,' that the Capital Stock of the said Annuities will be paid off and redeemed.

Ordered— That Mr. Speaker do give Notice to the Corporation of the Governor and Company of Merchants of Great Britain, trading to the South Seas and to other parts of America, and for encouraging the Fishery, that the Capital Trading Stock of the said Corporation, and the Capital Stocks of Old South Sea Annuities and New South Sea Annuities will be paid off and redeemed.

The House adjourned at a quarter before One o'clock.