Recital of 4 W.& M. c. 17. § 1.
§ 6.; and that Money subscribed could not be employed; and that Doubt had arisen whether Oil,&c. imported ought to pay Duty.; Remainder of the £82,000 subscribed, to be paid into, the Joint Stock as herein mentioned.
Whereas by an Act made in the Fourth and Fifth Yeares of the Reigne of His Majesty King William and the
late Queen Mary intituled " An Act for the regaining incourageing & settling the Greenland Trade Itt is
thereby (amongst other things) enacted That a Joynt Stock of Forty thousand Pounds att least should be raised by
Subscriptions by the several Persons in the said Act named and should be paid att such times and in such manner as
should be directed and appointed by the Governor or Deputy-Governors and Court of Co[m]mittees of the Company by
the said Act established for the time being so as the whole Su[m]m to be subscribed be paid within Foure Yeares And that
the said Company should pay no further or other Custome for the Oyl Blubber or Finns caught and imported in their
Shipps or Vessells than if they had been navigated with Three Fourths of the Mariners English And whereas the several
Persons in the said Act named did subscribe to the said Joynt Stock the Su[m]m of Eighty two thousand Pounds by
reason of the present Warr with France and the scarcity of Seamen the said Company cannot att present imploy all the
said Money subscribed to the said Joint Stock in the said Trade And whereas some Doubt or Scruple hath been made
whether the Oyl Blubber and Finns taken and imported in and by the Shipps of the said Company ought not to pay some
Duty or Custome to His Majesty May it please your Majesty that it may be enacted and be it enacted by the Kings most
Excellent Majesty by and with the Advice & Consent of the Lords Spiritual and Temporal and Co[m]mons in this present
Parliament assembled and by the Authority of the same That so much of the said Eighty two thousand Pounds as yet
remaines to be paid into the Company or the said Joint Stock shall be paid into the said Company and Joynt Stock
att such times and in such manner as shall be directed and appointed from time to time by the Governor or Deputy
Governor and the major Part of the Court of Co[m]mittees of the said Company for the time being and under and
upon the Penalties and Forfeitures in the said recited Act declared Provided the whole Su[m]m of Eighty two thousand
Pounds be paid in manner as aforesaid on or before the Five and twentieth day of March which shall be in the
yeare of our Lord One thousand seven hundred and three Any thing in the said recited Act contained to the
contrary thereof in any wise notwithstanding.
II. Company not to pay Duty for Oil, &c. imported in the Company's Ships.
And be it further enacted by the Authority aforesaid That the said Company shall not from henceforth pay or
be charged or chargeable with the Payment of any Custome Duty or Imposition whatsoever for any Oyl Blubber
or Whale Fins which shall be taken caught and imported into this Kingdome in and by any Ships or Vessells
whatsoever of or belonging to the said Company.