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NATIONAL DEBT REDUCTION ACT - SECT 8

Sums given or bequeathed for reduction of national debt to be carried to a separate account.

8.. . . A new and separate account shall be raised in the books of the
commissioners for the reduction of the national debt, and in the books of the
governor and company of the Bank of England, under the title of "The Account
of Donations and Bequests towards reducing the National Debt"; and the said
governor and company are hereby required to cause... any sum or sums to be
carried to the said new account, which may hereafter be given for the like
purpose; and the interest or dividends, which shall accrue from time to time
on all stock standing on the said account, shall be applied from time to time
to the purchase of the public annuities composing the national debt, for the
purpose of fulfilling the directions of the person or persons giving or
bequeathing the said sums, and to no other purpose whatsoever.

Ss.9, 10 rep. by SLR 1873

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