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Section 9.
Where the purchase of an annuity has been completed between the dates mentioned in the first column of the following table the date for the first quarterly payment shall be that mentioned in the second column of that table.
Between the closing of the stock transfer books of the Bank of England under section twenty-eight of the National Debt Act, 1870, in the month of December and the last day of February. | The fifth day of April next following the date of purchase. |
Between such closing in the month of March and the last day of May. | The fifth day of July next following the date of purchase. |
Between such closing in the month of June and the last day of August. | The fifth day of October next following the date of purchase. |
Between such closing in the month of September and the last day of November. | The fifth day of January next following the date of purchase. |
For the purpose of this Schedule a purchase shall be deemed to be completed—
(i)in the case of an annuity to which Part I of this Act applies, by the transfer of the stock or annuities or the payment of the money accepted as consideration therefor; and
(ii)in the case of a savings bank annuity by the actual payment of the purchase money.
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