Great Britain: Foreign Policy and the Span of Empire, 1689-1971: A Documentary History - Vol. 3

By Joel H. Wiener | Go to book overview

EAST INDIA COMPANY AND BRITISH CONTROL OF INDIA

Act Establishing a Rival Trading Company to India
(9&10 Will. Ill, c. 44), 1698*
[Known as the English East India Company,
it agreed to unite with the old,
or London, Company in 1702.]

LV. Provided always, That any persons, so to be named commissioners, may be subscribers, and their subscriptions and payments shall and may be received by the other commissioners, or such of them as shall be appointed in that behalf.

LVI. And be it further enacted by the authority aforesaid, That it shall and may be lawful for his Majesty, by letters patents under the great seal of England, to incorporate all and every the person and persons, natives and foreigners, bodies politick and corporate, who shall so subscribe, or for whom such subscriptions shall be made, and upon whose subscriptions the first tenth part shall be paid as aforesaid, and all and every person and persons, bodies politick and corporate, who as executors, administrators, successors or assigns, or by any other lawful title, derived or to be derived from, by or under the said original subscribers, of or towards the said sum of two millions, at any time or times hereafter, shall have or be intitled to any part, share or interest of or in the yearly fund by this act settled as aforesaid, so long as they respectively shall have any such part, share, or interest therein, to be one body politick and corporate, by the name of The general society intitled to the advantages given by an act of parliament, for advancing a sum not exceeding two millions, for the service of the crown of England, and by that name shall have perpetual succession, and a common seal; and that they and their successors, by the name aforesaid, shall be able and capable in law to have, purchase, receive, enjoy, possess and retain, to them and their successors, lands, rents, tenements and hereditaments, of what kind, nature or quality soever, and also to sell, grant, demise, aliene or dispose of the same, and by the same name to sue and implead, be sued and impleaded, answer and be answered, in courts of record or any other place whatsoever, and to do and execute all and singular other matters and things by the name aforesaid, that to them shall or may appertain to do; subject nevertheless to the proviso or condition of redemption, and to such restrictions and limitations, as are hereafter in this act expressed.

LVII. And it is hereby declared, That the sum total of all the said subscriptions shall be, and be called, The principal stock of the said general society, and all and every person and persons, his and their executors, administrators,

* Statutes at Large, X, 213–18.

-1922-

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