Taxation Act 1698

VII. A further Aid by Contribution of Annuities.

Any Person having or not having an Estate for One Life, in Annuity, under the Acts mentioned in Stat. 6 & 7 W.III. c.5. may contribute in the Rates and Proportions herein mentioned.; Persons so contributing, intitled upon Payment of their Money to Annuity, charged upon the Fund of the said Act.

And for the more effectuall raiseing the Money which is necessary for the Supply of Your Majesties Occasions before mentioned wee Your Majesties said dutifull and loyall Subjects doe chearfully and unanimously grant unto Your Majesty a further Aid to arise by Contributions for Annuities to be purchased in such Manner as is herein after expressed And be it enacted by the Authority aforesaid That it shall and may be lawfull to and for any Person or Persons Natives or Forreigners haveing or not haveing any Estate for One Life of and in any Annuity purchased or obtained at the Rate of One hundred Pounds for every Fourteene Pounds per Annum upon the severall Acts of Parliament mentioned in an Act made and passed in the Parliament which was holden [X1 at Westminster] in the Sixth and Seaventh Yeares of His Majesties Reigne intituled An Act for enabling such Persons as have Estates for Life in Annuities payable by severall former Acts therein mentioned to purchase and obtaine further and more certaine Interests in such Annuities and in Default thereof for admitting other Persons to purchase and obtaine the same for [X1 raising Money for ] carrying on the Warr against France at any Time before the Second Day of November One thousand seaven hundred to contribute advance and pay into the Receipt of His Majesties Exchequer soe much Money as every or any such Annuity being computed for Five Yeares doth or shall amount unto (that is to say) every such Person haveing or being intituled to such Estate for Life shall or may pay to His Majesties Use for every One hundred Pounds that was paid for the single Life in any Annuity of Fourteene Pounds per Annum the Summe of Seaventy Pounds for changing or converting the same into a certaine Terme for the Residue which shall be then to come of Ninety six Yeares to be reckoned from the Five and twentieth Day of January One thousand six hundred ninety five or for an Interest in such Annuity for the Residue of the said Terme of Ninety six Yeares to take Effect after the said Estate for Life, and every Person not haveing such Estate for Life shall or may contribute or pay to His Majesties Use for every One hundred Pounds that was paid for the Single Life in any such Annuity of Fourteene Pounds per Annum the like Summe of Seaventy Pounds for an Interest in such Annuity for the Residue of the said Terme of Ninety six Yeares to be charged with and subject to the present Estate for Life of and in the same Annuities respectively and in the same Proportion there shall be paid a Rate or Consideration for higher or larger Annuities and that all and every the Person or Persons soe paying the Consideration Money as aforesaid shall immediately upon Payment of their Moneys be intituled by this Act to such Annuity or Annuities soe to be purchased and the same shall be charged upon such respective Fond or Revenue in the said former Act mentioned as if the Consideration-Money soe to be contributed or advanced for the same had beene actually advanced or contributed within the respective times limited by the said former Act.

Editorial Information

X1 interlined on the Roll.