Page:Life Annuities Act 1808 (ukpga1808142).pdf/7

Rh of the Lives of any Two Nominees., and of the Life of the longer liver of them, shall in no Cade, except as aforedaid, exceed the annual Sum of One thousand five hundred Pounds: Provided nevertheless, that any such Annuity or Annuities shall have been purchased in, the Name or names of any Person or Persons who shall have no beneficial Interest, present, future, or contingent, direct or indirect therein, and, any such Person or Persons shall thereafter become desirous of purchasing any Annuity or Annuities bonâ fide for his, her, or their own Use and Benefit, and for his, her, or their own Lives respectively, it shall be lawful or such Person or Persons to prove the aforesaid Circumstances by good and legal Proof upon Affidavit, Affirmation, or otherwise, before any such, Magistrate or Justice of the Peace as aforesaid, and such Affidavit or, Affirmation duly certified by such Magistrate or Justice, shall be produced to the Officer appointed as aforesaid, and he shall thereupon proceed to grant his Certificate, and such Person or Persons than be entitled to purchase any Annuity or Annuities, not exceeding the Sums aforesaid, in each Case respectively over and above, and notwithstanding any such former Annuity or Annuities before purchased in the Name or Names of such Person or Persons.

And be it further enacted, That such Person or Persons is or are, or shall from Time to Time be nominated and appointed by the said Commissioners to accept Transfers of Stock made to them under the Provisions of the said recited Act, or any of them, is and are hereby authorized and enabled to accept the Transfer of any Bank Annuities which shall be transferred to the said Commissioners, for the Purchase of Life Annuities under the Provisions of this Act, and that the Dividends payable from Time to Time in respect of the Bank Annuities which shall be so transferred, shall be received by the Governor and Company of the Bank of England, and be placed to the Account of the said Commissioners, and shall constitute Part of the Funds which shall from Time to Time be applicable by the said Commissioners to the Reduction of the National Debt, by virtue of the said recited Act of the Forty-second Year of His present Majesty's Reign and the Life Annuities so purchased, shall be charged and chargeable upon the said Funds, and shall be paid and payable at the Bank of England, in the Manner herein. after expressed and it, shall be lawful for the said Governor and Company, out of any Sums whatever, which shall have been paid to them; or carried in their Books to the Account of the said Commissioners, to set apart and retain from Time to Time so much thereof as may be necessary for paying the Life Annuities which shall from Time to Time, be chargeable on the said Funds.

And be it further enacted, That all Life Annuities purchased under this Act, shall be payable Half-yearly at the Bank of England, on such of the usual Half-yearly Days of Payment of Dividends; according to the respective Periods within which any Consolidated or Reduced Bank Annuities may be transferred for the Purchase of any such Life Annuities as herein-after is expressed; that is to say, In all Cases where any such Bank Annuities, whether Consolidated or Reduced, than be transferred upon or after the Fifth Day of January and before the Fifth Day of April, or upon or after the Fifth Day of July, and before the Tenth Day of October, then the Half-yearly Payments of the Annuities purchased by the Transfer