Page:Life Annuities Act 1808 (ukpga1808142).pdf/5

Rh transferred as the Consideration for the Purchase of the Life Annuity, the Purchaser or Purchasers thereof, or the Person producing the said Certificate on his, her, or their Behalf, (hall be entitled to have a Certificate or Receipt, from one of the Cashiers of the Governor and Company of the Bank of England acknowledging such Transfer, which Certificate or Receipt one of such Cashiers is hereby required to give in the Form prefcribed in the Schedule to this Act annexed marked (C.), and which shall be an Acquittance or Discharge for the Stock so transferred: Provided always, that no Certificate granted by the said Officer, shall be valid and effectual to enable the Transfer of any Bank Annuities under the Provisions of this Act, after the Expiration of Five Days from the Date of such Certificate.

And be it further enacted, That in every case where any such Bank Annuities shall be transferred as the Consideration for the Purchase of an Annuity on the Continuance of a single Life the Person or Persons purchasing such Life Annuity shall, on the Transfer of the Paid Bank Annuities to the said Commissioners, be entitled, according to the Age of his, her, or their Nominee, and the average Price (to be ascertained as herein-before is directed) of such Three Pounds per Centum Consolidared Bank Annuities (if the Transfer shall be made in that Stock, or if the Transfer shall be made in Three Pounds per Centum Reduced Bank Annuities, then according to the average Price of that Stock) on the Day next preceding the Day of the Date of the Certificate to be granted by such Officer as aforesaid (in case there shall have been any Sale or Purchase at the Bank of England of Stock of the like Dsfcription as that transferred for The Purchase of the Annuity on such next preceding Day, or otherwise on the nearest preceding Day on which there shall have been any Sale or Purchase at the Bank of England of Stock of the like Description) to receive, during the Continuance of the Life of such Nominee (whether the Person or one of the Persons purchasing such Annuity shall be the Nominee or not) for every One hundred Pounds of such Bank Annuities, and so in Proportion for any greater Sum than One hundred Pounds transferred to the said Commissioners, a Life Annuity of such annual Amount as is specified in the Table in the Schedule to this Act annexed marked (D).

And be it further enac±ed, That in every case where any such Bank Annuities shall be transferred as the Consideration for the Purchase of an Annuity on the Continuance of Two Lives,and the Life of the longer   Liver of them, the Person or Persons purchasing such Life Annuity, shall, on the Transfer of the said Bank Annuities to the said Commissioners, be entitled, according to the Ages of his, her, or their respective Nominees, and the average Price (to be ascertained as herein-before is directed) of such Three Pounds per Centum Consolidated Bank Annuities (if the Transfer shall be made in that Stock, or if the Transfer shall be made in Three Pounds per Centum Reduced Bank Annuities, then according to the average Price of that Stock) on the Day next preceding the Day of the Date of the Certificate to be granted by such Officer as aforesaid (in case there shall have been any Sale or Purchase at the. Bank of England of Stock of the like Description as that transferred for the Purchase of the Annuity on such next preceding Day, or otherwise on the nearest preceding Day on which there shall have been any Sale or Purchase at the Bank of England of Stock of the like Description) to receive during the