1711: 10 Anne c.34: An Act for making effectual such Agreement as shall be made between the Royal African Company of England and their Creditors.

I. FOR the Benefit of the Creditors of the Royal African Company of England, Be it enacted by the Queen’s most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal and the Commons in this present Parliament assembled, and by the Authority of the same,

[Two Thirds in Number and Value, Creditors of the Company, may agree to allow Time for Payment, or otherwise enter into Agreement with the Company respecting their Debts, which shall bind the rest.]

That it shall and may be lawful to and for Two Third Parts or more in Number and Value of all the real Creditors of the Royal African Company of England and the Executors, Administrators, Guardians and Trustees of any such Creditors, and for any other Person or Persons authorized by them or any of them at any Time on or before the Twentieth Day of December One thousand seven hundred and twelve, by any Writing or Writings under their Hands and Seals, to allow or consent to allow to the said Company a Space of Time for Payment of their Debts, or to make any other Agreements with the said Company touching the said Debts, and that such Agreement or Agreements so made with the said Company under the Hands and Seals of Two Third Parts or more in Number and Value of all such Creditors of the said Company and of the Executors, Administrators, Guardians and Trustees of such Creditors as aforesaid, shall be effectual and shall as to all the Matters therein contained bind and conclude all the rest of the said Companies Creditors, their Executors, Administrators, Guardians and Trustees and all other Persons authorized by or claiming under them or any of them,

[Such Agreement binding on Infants, &c.]

II. And it is hereby further enacted That all such Agreements so subscribed and sealed by such Executors, Administrators, Guardians and Trustees shall be binding to such Infants and other Persons for whom they are or shall be concerned or interested, and such Executors, Administrators, Guardians and Trustees are and shall be hereby indemnified for so doing.

[Proviso for Debts due to the Crown.]

III. Saving always to the Queen’s most Excellent Majesty, Her Heirs and Successors all such Debts or Sums of Money due or owing from the said Company as Her Majesty is or before the First Day of June One thousand seven hundred and twelve shall be entitled to by Extent, Inquisition or otherwise.

Source: Statutes of the Realm, volume 9. Spelling, punctuation and layout adjusted.

Note: This act is cited as Chapter 27 in the older, eighteenth century, editions of the statutes.