Life Annuities Act 1808

IX Purchasers of Life Annuities on the Continuance of Two Lives to be entitled to the Annuities specified in Schedule (E).

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 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 Continuance of the Lives of such Two Nominees, and of the Life of the longer Liver of them, (whether the Persons or Person, or one of the Persons purchasing such Annuity shall be the Nominees or one of the Nominees 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 Tables in the Schedule to this Act annexed marked (E.)