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vided also that the Directors of the said bank may at their discre No. 1. tion renew any loan for such period not exceeding Six months upon Ord. No. 9, such security as they may think fit.

1860. XXVIII. That on entering up any such judgment, the said Pro

How levy to thonotary shall give the cashier a certificate thereof, and the Provost be made. Marshal of these islands, on production of such certificate to him, shall file the same, and proceed to levy on the goods and chattels, lands, and tenements of the parties, who in the said certificate are stated to be indebted to the said bank; and upon such levy made, shall proceed in all respects as if he were executing a writ of fieri facias from the Supreme Court.

XXIX. That the said Prothonotary shall keep a separate record fee on Judg. of judgment entered up by virtue of this Ordinance, and for his

and for his ment entered up

under this trouble shall be entitled to have and receive the following as Ordinance costs :

8. d. On all sums of and under £20 - - - - 12 6 On all sums over and above £20 - - - - - 16 8

Which shall be indorsed on his certificate aforesaid as costs in the case, and shall be made and levied by the Provost Marshal as aforesaid.

XXX. Definition of the word President.

RA.

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No. 2.-ORDINANCE No. 25 of 1860.

No. 2. An Ordinance to amend Ordinance No. 9 of 1860, to Establish and Ord, NO

1860. Regulate a Public Bank for the Turks and Caicos Islands.

(Passed 14th Dec., 1860. Confirmed 25th July, 1861.) THEREAS it is expedient that the 14th section of OrdiW nance No. 9 of 1860, to establish and regulate a public bank for these islands, which authorizes the payment of moneys out of the said bank by the cashier thereof, should be amended'; May it, To whom &c., That it shall not be lawful for the cashier of the said bank to is to pay mouny pay out of the said bank the whole or any part of any money de- depositel. posited therein in the name of any person or persons whomsoever other than to the person or persons, himself, herself, or themselves, or to some one duly authorized by him, her, or them, by draft, indorsation of receipt, or letter of attorney; or in case of the death of any such person or persons, then only to his, her, or their executors or administrators, unless the amount deposited in the name of such deceased person shall not exceed the sum of Fifty pounds, in which case, if no will is proved, or letters of administration are taken out, the amount so standing in the name of such deceased person shall be paid to his next of kin; and it shall not be lawful for the said cashier to pay money by virtue of a power of attorney unless in and by such power of attorney such party is specially authorized to draw such money out of the bank by a specific form of words ; and in case of money deposited by any person or persons in the name of, and for the benefit of minors, it shall not be lawful to pay the same to any but to the person or persons lawfully appointed as guardians of such minors. II. Repeals 14th section of Ordinance No. 9 of 1860.

so

No. 2. III. Repeals so much of section 21 of Ordinance No. 9 of 1860 Ord. No. 25, as relates to merchandise being accepted as security for a loan. 1860. IV. And whereas the 24th section of the aforesaid Ordinance

which authorizes loans to persons having deposits in the said bank is likely to be inoperative, and it is expedient to repeal the same ; Be it further ordained, that the 24 section of Ordinance No. 9 of 1860 be repealed, and the same is hereby repealed accordingly.

PREAMBLE.

Colony.

CLASS III.

CURRENCY. No. 1. No. 1.-2 Vic. ch. 4. An Act to declare British Sterling Money Act 2 Vic.

to be the Money of Account throughout the Bahama Islands. c. 4.

(Assented to the 29th of Nov., 1838.) CHEREAS inconveniences have arisen, and are still likely to VV arise, from the difference between the current value of the several foreign coins in circulation in the colony and the sterling value at which such coins are respectively received and paid at the several custom houses and army departments of the colony, for remedy whereof it has become expedient to alter the currency of

the colony, and to establish in lieu thereof British sterling money British sterling as the money of account ; May it, &c., That from and after the money made commencement of this Act British sterling money shall be the the current

money of account throughout the Bahama Islands; and that all money of the

receipts and payments, and all gifts, grants, contracts, bargains, sales, agreements, and stipulations, and all written bonds, bills, notes, drafts, acceptances, acknowledgments, undertakings, or securities for money, and all transactions, dealings, matters, and things whatsoever relating to money, or involving or implying the payment of money, or the liability to pay any money which shall be had, made, done, executed, or entered into within these islands, shall be had, made, done, executed, and entered into in sterling money, such sterling money becoming the currency and lawful money of the said Bahama Islands, and not according to any currency or as money hath been heretofore valued in the said islands, or in any other manner than in such sterling money; and that all such receipts, payments, gifts, grants, contracts, bargains, sales, agreements, stipulations, bonds, bills, notes, drafts, acceptances, acknowledgments, undertakings, securities, transactions, dealings, matters, and things shall be deemed, construed, and taken to be had, made, executed, done, and entered into according to such sterling money, and in reference to the sterling value of the various coins in circulation within these islands at the time of the making, executing, doing, or entering into any such receipts, payments, gifts, grants, contracts, bargains, sales, agreements, stipulations, bonds, bills, notes, drafts, acceptances, acknowledgments, securities, transactions, dealings, matters and things aforesaid, unless the contrary be proved to have been the intention of the parties, any law, usage, or custom in force within these islands at any time before the passing of this Act to the contrary notwithstanding : Provided always, nevertheless, that all debts, agree

ments, contracts, bargains, sales, and money engagements, and No. 1. securities, of whatever nature the same may be, contracted prior to Act 2 Vic. the commencement of this Act, in what then was and had been the

c. 4. currency of these islands, shall be convertible into the sterling denomination by virtue of this Act, at and after the rate of four shillings and twopence sterling for every eight shillings of the said currency, of which any such debt or other money engagement as aforesaid may consist, agreeably to the Schedule hereunto annexed, and shall be paid and liquidated accordingly.

II. That this Act shall commence and take effect from and after Date from the twenty-fourth day of December next.

which this Act is to take

effect. SCHEDULE.

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No. 2.-8 Vic. ch. 49. An Act further to Reduce the Value within No. 2.

these Islands of a certain Foreign Coin called a Peseta. (14th Act 8 Vic. May, 1845.)

C. 49. THEREAS an Act was passed in the ninth year of the reign PREAMBLE.

of His late Majesty King George the Fourth, to ascertain and regulate the value, within these islands, of a certain foreign coin, called a peseta, which, having obtained currency in these islands at a rate exceeding its intrinsic value, had gradually displaced the other current coin of the colony, to the great detriment of trade and the injury of the people of these islands; And whereas, in consequence of the recent reduction in the current value of the said peseta in the neighbouring island of Cuba, and the lesser rate at which the said peseta obtains currency in the United States of America, the said coin is being again introduced in considerable quantities into these islands, and there is reason to fear that unless the current value of the said peseta, limited by the Act above mentioned at one-fifth part of a dollar; equivalent to tenpence sterling money of Great Britain, be further reduced, evil consequences similar to those which rendered necessary the passing of the said Act will, in a short period, be again experienced ; We, &c., That from and after the passing of this Act, that the said Reduction of peseta shall be taken, received, and paid at, in, and out of the

na ont of the Peseta coin Public Treasury, and all other public departments of the colony, at 9d each

from 10d. to the rate or value of ninepence sterling money of Great Britain, now the lawful currency and money of account of these islands, and shall be a legal tender at that rate only, and no other within the Bahama Islands, anything in the before-mentioned Act, or any other Act of Assembly of these islands to the contrary notwithstanding : Provided, however, that nothing herein contained shall be under- This Act not stood or construed to interfere with your Majesty's royal preroga- to interfere tive of regulating and settling the rate and value of the aforesaid,

with the Royal

· prerogative. and any the coins in these islands, in such manner, and according to such other rate, as your Majesty, by your royal proclamation for that purpose, or by your royal instructions to your President

No. 2. in-chief in and over the said islands for the time being, shall from Act 8 Vic. time to time judge proper and necessary.

c. 49. II. That from and after the period aforesaid, the said peseta £3 in Pesetas

shall not be a legal tender within these islands in any sum ercado only to be a ing Five pounds. legal tender. III. That from and after the period of one year from the passing At the expira- of this Act, the coin called and known by the name of the peseta tion of one year, shall cease to be a legal tender within the Bahama islands. the Peseta to cease to be a legal tender.

CLASS IV.

PUBLIC LOANS. No. 1.

No. 1.-ORDINANCE No. 1 of 1851. 1, An Ordinance to repeal Ordinance No. 8 of 1850; and further to 1851.

authorize the Receiver-General and Treasurer for the Turks and Caicos Islands to issue Debentures for a sum of money to be raised on Loans not exceeding the sum of Four Thousand Pounds (£4,000), in the manner and for the purposes set forth in this Ordinance. (Passed 11th April, 1851. Confirmed

23rd Dec., 1851.) PREAMBLE. IV HEREAS by an Ordinance of the Legislative Council of

1 these islands, made and passed in the fourteenth year of Her Majesty's reign, and numbered No. 8, 1850, it is recited and set forth-That whereas by an Act of the Bahama Legislature, passed in the eleventh year of Her Majesty's reign, and commonly known as the “ Separation Act," it is amongst other things enacted that the sum of Eight Thousand Pounds (£8,000) be allotted to the Turks and Caicos Islands, as the proportion of the then existing debt of the colony, to be borne and paid by the inhabitants of the said Turks and Caicos Islands ; which sum of £8,000, with interest thereon, at the rate of five per cent. per annum, shall be charged upon and made payable out of the General Revenue of the said Turks and Caicos Islands, and shall have preference of all other payments which may be charged upon and made payable out of the same,-and whereas the sum of Four thousand pounds (£4,000) still remains unpaid, and it is considered expedient that the same should be paid and liquidated as speedily as possible, and that for that purpose a sufficient sum of money should be raised in manner hereinafter mentioned ; And whereas some of the provisions of the said before-recited Ordinance are defective, and it is expedient therefore that the said Ordinance should be repealed, and further and other provision should be made for raising a sum of money by the issuing

of debentures as in the said Ordinance is set forth; May it, &c., That Ordinance whensoever this Ordinance shall come into operation, the beforeNo. 8 of 1850

mentioned Ordinance No. 8, 1850, shall be repealed and cease to repealed.

be of any force or effect.

II. And be it further ordained, that so soon as this Ordinance £4,000 to be laised on

shall come into operation, it shall be lawful for the ReceiverDebentures, General of these islands to issue debentures to any amount not

exceeding in all the aggregate amount of Four thousand pounds, No. 1.
(£4,000) in form hereinafter provided, and all such debentures Ord. No. 1,
shall bear interest at and after the rate of five per cent. per annum; 1851.
which interest shall be payable quarterly-out of the Public Trea-

Bearing interest
sury of these islands, that is to say, between the 1st and 10th at five per cent.
April, the 1st and 10th July, the 1st and 10th October, the 1st per annum.
and 10th January of each year—and the payment of all such In preference
amounts of interest shall have preference over all other payments to all other
which have been or may hereafter be charged upon or made charges on the

Revenue. payable out of the Public Treasury aforesaid.

III. And be it further ordained, that all debentures issued under Form of Deand by virtue of this Ordinance shall be according to the form benture “ A.hereunto annexed, marked A, and shall be signed by the ReceiverGeneral, as aforesaid, countersigned by the Colonial Secretary, and shall be approved of by the President or person administering the Government for the time being.

IV. And be it further ordained, that a memorandum in the form Memorandum hereunto annexed, marked B., shall be kept in the Receiver- of Debenture to

be filed “ B." General's office for each debenture issued as aforesaid, and from be hi which each debenture on being issued shall be severed.

V. And be it further ordained, that no debenture or debentures Debentures not issued under and by virtue of this Ordinance shall be disposed of to be disposed to any person or persons for any less amount than the sum actually of below par. secured to be paid by such debenture.

VI. And be it further ordained, that so soon as this Ordinance Appropriation shall have come into operation, and a sum of money shall have of the sums been raised by virtue thereof, sufficient to liquidate in all or in raised on

Debentures, part the then unliquidated portion of the debt to the Bahamas, that then it shall be the duty of the President to issue his warrant in the usual manner for the payment of such amount as aforesaid into the Treasury of the Bahama Government, in such manner and under such restrictions as Her Majesty's Government shall be pleased to direct and appoint.

VII. And be it further ordained, that whenever at any of the Unappropriated quarterly periods herein before specified any moneys shall remain Revenue to in the Public Treasury of these islands not otherwise appropriated,

for the liquida. it shall and may be lawful for the President or officer administer

tion of the said ing the Government to direct that the same be applied to the for- Debentures. mation of a sinking fund, to be applied to the liquidation of the several amounts secured by the said debentures, in such manner as may be determined upon by the President, by and with the advice and consent of the council of the same, and with the sanction of Her Majesty's Government.

VIII. And be it further ordained, that upon the liquidation of Debentures not any such amounts, and the redemption of any such debentures, no to be redeemed higher or greater amount shall be due or payable to the holder of a such debentures than the sum actually secured thereby, with the interest which may then be due thereon, and that a tender of the amount so secured with interest as aforesaid shall be a legal tender notwithstanding any higher or greater amount at which such debentures have been or may be negotiable.

IX. And be it further ordained, that all such debentures when Debentures called in by the Receiver-General to be paid off wholly or in part. how dealt with shall have the word “ cancelled” written across each such deben- w

when iedeemed ture so called in, with the day, month, and year on which such

e paur.

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