The Privy Council Act, Article 2, as amended 7529, 7531, 7532 and 7550

SECOND, that the Privy Council is now re-established with the following membership, viz.: the Lord President of the Councils; the Lord Chancellor and Keeper of the Great Seal; the Earl Marshal; the Thain of the Shire; the Mayor of the Shire; and such other persons as the Lord President and Lord Chancellor may request the Lord Great Steward to summon; that a quorum to conduct business of the Privy Council shall consist of the Presiding Officer, to wit, either the Lord President, the Lord Chancellor, or the Lord Keeper of the Privy Seal, as provided hereinafter, and three others, at least one of whom shall not be represented by proxy; but a smaller number may adjourn from day to day and may compel the attendance or representation of absent members, in such manner, and under such penalties as the Privy Council may by law provide; and that the Privy Council is empowered as follows, to wit:

(a) the Privy Council shall draft and present to the Lord Great Steward such bills as they may think fit to become law; and if the Lord Great Steward refuse to issue warrants to the Lord Chancellor for the affixing of the Great Seal to any bill, a two-thirds majority of the Privy Council may order warrants for the affixing of the Great Seal to be issued to the Lord Chancellor under the Privy Seal, and the bill shall thus become law; but if the Lord Great Steward, in refusing to issue warrants as aforesaid, shall advise the Privy Council that the bill deals with a matter of sufficient importance to be referred to the Council-General, the Privy Council must, before considering any motion to override the Lord Great Steward's veto, decide whether or not to refer the bill to the Council-General;

(b) the Privy Council, in judicial session presided over by the Lord Chancellor, shall serve as the high court of appeals of the realms, provided, that the right of a peer to be tried by the Council-General shall not be diminished by this act;

(c) the Privy Council shall, when circumstance demands, recommend to the Regent that he declare war; but such letters of recommendation must be accompanied by a request that the Lord Great Steward summon a Council-General to be holden within fourteen days of the original declaration of war, to determine whether or not the war should be continued;

(d) the Privy Council shall have the power to coin money; and to regulate the value thereof, and to regulate the value of foreign coin in the realms; and in time of war, the Privy Council shall have the power to grant letters of marque and reprisal;

(e) the Privy Council shall be entitled, for the defrayal of the expenses of its own operation, to the revenues from treasure trove, flotsam [and] jetsam; and shall have the power to lay and collect taxes, duties, imposts, and excises, to pay the debts and provide for the defense and general welfare of the realms, provided, that no such tax, duty, impost or excise shall be levied on any return accruing to subjects of His August Majestie solely in respect of business conducted outside His August Majestie's realms.

(f) the Privy Council will not have the power to change in any way any provisions of any act of the Council-General, except that the Privy Council, in recommending to the Regent that he declare war, may revoke the Disestablishment Act of 7526. [As the Privy Council did, in 7528.]

(g) The Lord President may at his discretion authorize the Lord High Chancellor or the Lord Keeper of the Privy Seal to preside over meetings of the Privy Council; and any Privy Councillor may at his discretion designate any Councillor-General other than the Regent or the Lord Great Steward to have voice and vote as his proxy at a meeting of the Privy Council PROVIDED, that no one shall at any time be a proxy for more than one Privy Councillor.

(h) the Privy Council shall, when circumstance demands, declare a state of National Emergency; but such letters of declaration must be accompanied by a request that the Lord Great Steward summon a Council-General to be holden within sixty days of the original declaration of war, to determine whether or not the state of National Emergency should be continued.