Search Legislation

Life Annuities Act 1808

Status:

This is the original version (as it was originally enacted).

Life Annuities Act 1808

1808 CHAPTER 142

An Act for enabling the Commissioners for the Reduction of. the National Debt, to grant Life Annuities.

[2nd July 1808]

WHEREAS by several Acts passed in the Reign of His present Majesty, videlicet, an Act passed in the Twenty-sixth Year of His Majesty, intituled, An Act for vesting certain Sums in Commissioners at the End of every Quarter of a Year, to be by them applied to the Reduction of the National Debt ; an Act passed in the Thirty-second Year of His Majesty, intituled, An Act to render more effectual an Act made in the Twenty-sixth Year of His present Majesty's Reign, intituled, An Act for vesting certain Sums in Commissioners at the End of every Quarter of a Year, to be by them applied to the Reduction of the National Debt; and to direct the Application of an additional Sum to the Reduction of the said Debt, in case of future Loans ; and an Act passed in the Forty-second Year of His Majesty, intituled, An Act to amend and render more effectual Two Acts passed in the Twenty-sixth and Thirty-second Years of the Reign of His present Majesty for the Reduction of. the National Debt; certain Provisions Were made for the Establishment and Regulation of the Funds therein created or directed to be created for the Redemption of the National Debt, commonly called The Sinking Fund: And whereas it would tend to a more speedy and efficient Reduction of the National Debt, if the Commissioners for the Reduction of the laid Debt were enabled, under certain Limitations and Redactions, to grant Life Annuities, charged upon and payable out of the Funds created as aforesaid for the Redemption of the National Debt, in Consideration of the Transfer to them of Three bounds per Centum Consolidated or Reduced Bank Annuities; and it is therefore expedient that the Provisions of the laid recited Acts, relating to the Redemption of the National Debt, mould be varied and amended in so far as may be necessary for carrying the said Measure into Effect, and as herein-after expressed; be it therefore enacted by the King's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, That notwithstanding any Thing in the said recited Ads, or any of them, contained to the contrary thereof, it shall be lawful for the Commissioners for the Reduction of the National Debt, at any Time from and after the First Day of August One thousand eight hundred and eight, to accept arid receive from any Person or Persons whomsoever, the Transfer of any Three Pounds per Centum Consolidated or Reduced Bank Annuities, as the Consideration for the Purchase of Life Annuities, to be charged upon and payable out of the Funds created as aforesaid, for the Redemption of' the National Debt, commonly called The Sinking Fund, either on the Continuance of single Lives, or on the Continuance of Two Lives, and the Life of the longer Liver of them, in the Manner and under the Limitations, Reflections, and Regulations herein-after expressed: Provided always, that if it shall appear to the said Commissioners that such Transfers cannot conveniently be received until after some Day subsequent to the said First Day of August, it shall be lawful for them to appoint some other Day after the said First Day of August, and prior to the Tenth Day of October One thousand eight hundred and eight, giving Notice in the London Gazette of the Day so appointed by them, after which such Transfers may be received.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources