Government Life Annuities Act 1693

Recital of 4 & 5 (4) W. & M. c. 3. § 8.

£14 per Cent. for Life to Contributor.; when Life to be nominated;; how and when Annuities payable; Orders transferable.; Duties appropriated for Payment.; Register kept without Fee.; Access to the same.; Penalty.; Persons advancing Money before 1st May, Interest to 24th June, at £10 per Centum per Annum.

Whereas by an Act of this present Parliament entituled An Act for granting to their Majesties certaine Rates and Duties of Excise for secureing certaine Recompences and Advantages in the said Act menc[i]oed to such persons as shall voluntarily advance the su[m]m of Ten hundred thousand pounds towards carrying on the Warr against France It was enacted that it should be lawfull for any persons natives or forreigners to contribute towards the advancing the su[m]m of ten hundred thousand pounds for the purposes therein menc[i]oed by paying into their Majesties Receipt of Exchequer such su[m]m or su[m]ms of money att such times and upon such terms respectively as in the said Act are particularly menc[i]oed and expressed. And whereas the several sums paid in upon the said Act by the several contributors did and doe in the whole amount but to the su[m]m of Eight hundred eighty one thousand foure hundred ninety three pounds fourteen shillings and two pence. Wee your Majesties most loyal and dutiful Subjects the Co[m]mons in Parliament assembled being sensible of the great and necessary expences in which your Majesties are engaged for carrying on the present Warr against the French King and being desirous [X1 to supply] the same in such manner as may be least grievous to your Majesties Subjects doe beseech your Majesties that it may bee enacted. And bee it enacted by the King and Queens most excellent Majesties by and with the advice and consent of the Lords Spiritual and Temporal and Co[m]mons in this present Parliament assembled and by the authority of the same That it shall and may be lawfull for any persons natives or forreigners to contribute towards the advancing the su[m]m of One hundred and eighteen thousand five hundred and six pounds five shillings and ten pence to make upp the whole su[m]m of Ten hundred thousand pounds by the said recited Act intended to bee advanced by paying into the Receipt of their Majesties Exchequer att any time before the first day of May one thousand six hundred ninety foure any su[m]m or su[m]ms of money not exceeding in the whole the su[m]m of one hundred and eighteen thousand five hundred and six pounds five shillings and ten pence upon the terms following (that is to say) That every such person out of the rates and duties of Excise granted by the said recited Act shall have and receive for every su[m]m of one hundred pounds by them respectively advanced and paid a yearely annuity rent or payment of fourteen pounds of lawfull English money and proportionably for a greater su[m]m for and dureing the Life of such person soe advancing or paying the same or dureing any other Life to bee nominated by the person advancing or paying any such su[m]m as aforesaid the same to be nominated within six days after payment of such su[m]m which yearely annuities rents or payments shall commence from the foure and twentieth day of June next ensueing and shall be paid and payable at the foure most usuall Feasts of the yeare (that is to say) The Annunciacon of the Blessed Virgin Mary the Nativity of Saint John Baptist the Feast of Saint Michael the Archangel and the Feast of [X1 the Birth of] our Lord Christ by even and equal portions And every person on payment of any such su[m]m or su[m]ms as aforesaid shall i[m]mediately have one or more Tally or Talleys importing the receipt of the considerac[i]on money and orders for the payment of the said annuities beareing the same date with the Talley the said Talleys to bee levied and the said orders to be signed in the same manner as in the said recited Act is mentioned touching Tallies and orders to bee given to the contributors for annuities upon the said Act and the said orders not to bee determinable revocable or countermandable as touching the foremenc[i]oed orders in the said recited Act is enacted which said orders shall bee assignable and transferrable in such and the same manner as is menc[i]oed in the said recited Act touching orders given to the contributors in the said Act menc[i]oed and all the rates and duties by the said recited Act granted over and besides soe much as shall beare proportion att the rates in the said Act menc[i]oed to the whole su[m]m of eight hundred eighty one thousand foure hundred ninety three pounds foureteen shillings and two pence already advanced by the contributors upon the said recited Act are and shall be appropriated and applied and are hereby appropriated to and for the payment of the said annuities yearely rents or su[m]ms after the rate of fourteen pounds per Centum per Annum for every hundred pounds to bee advanced as aforesaid according to the true intent and meaning of this Act and shall not be diverted or divertible to any other use intent or purpose whatsoever under the like penalties forfeitures and disabilities in respect to all and every the Officers and other persons in the said recited Act menc[i]oed as are in the said Act appointed and enacted in case of diverting or misapplying any part of the moneys which ought to be paid to the contributors upon the said Act And the said Officers are hereby required to keep Books and Registers and make Entries of the names of all persons who shall advance any moneys before the said first day of May as aforesaid and of the several su[m]ms soe advanced and the times of paying in the same respectively and the names of such persons for whose Lives the several annuities or yearely payments are to be payable without fee or reward in such manner as in the said recited Act is menc[i]oed To which Books all persons concerned shall have accesse as in the said Act alsoe is directed All which the said Officers are to doe and performe under the like penalties and forfeiture and disabilities as in the said recited Act are menc[i]oned And every person who shall advance and pay any such su[m]m as aforesaid before the first day of May as aforesaid shall receive out of the money granted by the said recited Act for all money so advanced by him and paid from the respective days of payment unto the foure and twentieth day of June as aforesaid interest att the rate of ten pounds per Centum per Annum.

Editorial Information

X1 interlined on the Roll.