Life Annuities Act 1808

XV Annuities to be payable Half-yearly.

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 Cafes where any such Bank Annuities, whether Consolidated or Reduced, shall 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 thereof, shall be made on the Fifth Day of July and the Fifth Day of January in every Year ; and the First Half-yearly Payment of every such Annuity, shall be payable on such of the said Days as shall next succeed the Day of the Transfer of the said Bank Annuities; and in all Cafes where any such Bank Annuities, whether Consolidated or Reduced, shall be transferred upon or after the Fifth Day of April and before the Fifth Day of July, or upon or after the Tenth Day of October and before the Fifth Day of January, then the Half-yearly Payments of the Annuities purchased by the Transfer thereof, shall be made on the Fifth Day of April and the Tenth Day of October in every Year; and the Firs Half-yearly Payment of every such Annuity shall be payable on such of the said Days as shall next succeed the Day of the Transfer of the said Bank Annuities y and upon the Death of any single Nominee, or of the Survivor of any Two joint Nominees, a Sum equal to One-fourth Part of the Annuity depending upon his or her Life, (over and above all Arrears thereof respectively) shall be payable to the Person or Persons entitled to the said Annuity, or to his or her Executors, Administrators, or Assigns (as the case may be) on the Half-yearly Day of Payment next succeeding the Death of such Nominee; provided such last mentioned Payment shall be claimed within Two Years after the Death of such single or surviving Nominee, but not other wife.