This act, for the founding of the Bank of England as a “corporation”, was written with the intention for their Majesties’ subjects not to be oppressed.
Its Sections XXVI and XXVII have not been repealed yet and say something along the following lines:
- the Bank of England may not monopolize or engross any goods, wares or merchandize
- the Bank of England may not deal or permit to deal or trade with any of the ’stock-monies’ or ‘effects’, i.e. ‘deposits’ or ‘collateral’, to buy or sell any goods, wares or merchandize
- should anybody do so anyhow, or by order or directions, such dealings or tradings are prosecuted and punished by treble the value of the goods and merchandize traded, if ‘victims’ sue for action in the High Court.