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On 12 months notice after 1st Jan. 1794, in Dublin Gazette, by order of Ld. Lieut. and repayment of all sums due to said corporation, or on petition of said corporation to parliament before said 1st Jan. 1794, and like repayment, said corporation shall cease and determine;
and in such case or insolvency, the stock first applied to pay debts of said corporation;
and if not sufficient, each member liable until the whole shall be paid.
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XXI. Provided always, and be it further enacted by the authority aforesaid, That [at any time, upon twelve months notice after the first day of January one thousand seven hundred and ninety four, to be published in the Dublin Gazette by order of the lord lieutenant or other chief governor or governors of this kingdom for the time being, and upon repayment by Parliament to the said governor and company of the bank of Ireland, or their successors, as well of the said sum of six hundred thousand pounds in like debentures, and subject to the like interest of four pounds per centum, as of all arrears of the said annual sum of twenty four thousand pounds, without any deduction, discount, or abatement whatsoever from said arrears, or at any time previous to the said first day of January one thousand seven hundred and ninety four, upon like repayment, by and with the desire and consent of the said governor and company, to be signified by them by their petition in writing, sealed with their common seal, and addressed to the lord lieutenant or other chief governor or chief governors of this kingdom for the time being; then, and in such case, the said annuity of twenty four thousand pounds, and every part thereof, together with the said corporation, shall cease and determine; ([(a)
]) and in case of the determination of the said corporation, in consequence of such notice or request, or] in case of insolvency, that then, and in every such case, before any distribution or dividend shall be made of the said stock or the produce thereof, the said governor and company shall be obliged in the first instance, to apply the said stock and the produce thereof then in their hands, or a competent part of the same, to discharge and pay off the total sum of the debts which they shall owe to others; and in case the same shall not be sufficient to pay off and discharge such debts so due to others, that then each member of the said corporation shall in his, her, or their private capacity, according to the proportions of their respective interests in said capital stock, be liable to the payment of said debts, until the whole shall be discharged.
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