Government Life Annuities Act 1694

Recital of 4 & 5 W. & M. c. 3.

§ 8; and of 5 & 6 W. & M. c. 20; § 11. 12; §33; And that under the said Act, and of 5 & 6 W. & M. c. 5. divers Persons had advanced Monies amounting to £1,300,000, and were entitled to receive Annuities for Lives; And that Persons may be willing to change their Terms for Life into 96 Years; Any Persons having £14 per Cent. for Life upon the former Acts may turn it into an Estate of 96 Years for £63 more; and such Persons to have Tallies. What such Tallies to contain; And in case the Tally import a present Interest, the Persons so contributing or the Nominee to have a good Estate in such Annuity as herein mentioned; So where the Tallies import a future Interest.

WHEREAS in and by an Act of this present Parliament made in a Session which was held in the Fourth and Fifth yeares of the Reigne of King William and Queen Mary intituled An Act for granting to their Majesties certaine Rates and Duties of Excise upon Beer Ale and other Liquors for secureing certaine Recompences and Advantages in the said Act mencc[i]oed to such persons as shall voluntarily advance the sum of Ten hundred thousand pounds towards carrying on the War against France certaine Rates or Duties of Excise upon Beer Ale Vinegar Cyder Perry Brandy and other Liquors or Commodities therein enumerated and mentioned are granted charged and made payable dureing the space and terme of Ninety and nine yeares co[m]mencing from the Five and twentieth day of January in the yeare of our Lord One thousand six hundred ninety and two which Rates or Duties are thereby appointed to bee levyed collected and paid dureing the said terme of Ninety and nine yeares and to bee brought into the Receipt of Exchequer in such manner and forme and by such rules ways and meanes and under such penalties and forfeitures as in and by the said Act are prescribed mentioned or referred unto And it was thereby enacted that it should and might bee lawfull for any Persons Natives or Forreigners to contribute towards the advanceing the su[m]m of Ten hundred thousand pounds for the purposes therein mentioned by paying into the Receipt of Exchequer such su[m]m or su[m]ms of money by such time and upon such termes respectively as in the said Act are particularly mentioned and expressed. And whereas by another Act of this present Parliament made in a Session held in the Fifth and Sixth yeares of the Reigne of King William and Queen Mary entituled An Act for granting to their Majesties several Rates and Duties upon Tunnage of Ships and Vessells and upon Beer Ale and other Liquors 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 Fifteene hundred thousand pounds towards carrying on the Warr against France diverse Impositions Rates and Duties for and upon the Tunnage of such Ships and Vessells as are therein mentioned are granted and made payable dureing the terme of Foure yeares co[m]mencing from the First day of June in the yeare of our Lord One thousand six hundred ninety-foure And it was thereby further enacted that from and after the Seventeenth day of May which should bee in the yeare of our Lord One thousand six hundred ninety seven there should bee raised levied collected and paid to his Majesty and the late Queen of blessed memory their Heires and Successors for Beer Ale Cyder and other Liquors therein expressed by way of Excise certaine additional Rates and Duties therein particularly expressed and the said Impositions Rates or Duties soe to arise by or upon the Tunnage of Ships or Vessells granted for the terme of Foure yeares as aforesaid and the said additional Rates or Duties of Excise soe granted and made payable, for ever by the Act last mentioned are to bee raised levyed and collected and to bee brought into the Receipt of Exchequer in such manner and forme and by such rules ways and meanes and under such penalties and forfeitures as by the same Act are prescribed And it is thereby further enacted That each weekly or other payment ariseing by and out of the Duties and Impositions granted by the Act last mentioned should by the Auditor of the Receipt of the Exchequer from time to time as the same should bee paid in bee separated and divided into five seventh parts and two seventh parts And it was thereby enacted thåt it should and might bee lawfull for any Persons Natives or Foreigners to contribute towards the advancing of the su[m]m of Three hundred thousand pounds (part of the su[m]m of Fifteen hundred thousand pounds therein mentioned) by paying into the Receipt of the Exchequer such su[m]m and su[m]ms of money within such time and upon the several and respective termes of haveing and receiving certaine Annuities for one two or three lives according to the several rates and proportions as are in the same Act particularly expressed as by the said several Acts of Parliament (relation being thereunto had) may more fully appeare. And whereas by virtue or in pursuance of the said Act which granted certaine Duties of Excise to secure recompences and advantages to the persons that should advance the su[m]m of Tenne hundred thousand pounds as aforesaid and another Act of this present Parliament for supplying the deficiency of the money which was to bee raised by the Act last menc[i]oed and by virtue or in pursuance of the Clauses relateing to the said su[m]m of Three hundred thousand pounds in the said Act imposeing a duty of tunnage upon Ships and additional Rates of Excise as aforesaid diverse Persons as well Natives as Forreigners have actually advanced and contributed and paid into the Receipt of the Exchequer several su[m]ms of money amounting in the whole to Thirteen hundred thousand pounds upon the several and respective termes in the same Acts mentioned in relation to such contributions and for part thereof (to witt) for the sum of Nine hundred eighty one thousand six hundred and nineteen pounds one shilling and nine pence or thereabouts soe advanced [X1 or] contributed the respective Contributors of the same are or were intituled to have receive and enjoy for and dureing several single lives onely (that is to say) dureing the life of every such Contributor or the Nominee of such Contributors respectively an annuity yearely rent or payment after the rate of Fourteene pounds of lawfull English money for every hundred pounds soe advanced or contributed payable att the foure most usual Feasts in the yeare by equal portions. And whereas the persons who are or may bee intituled to such Estates for single lives in the said Annuities or some of them are or may bee willing and desirous (for a reasonable price or consideration) to have such their respective Estates for single lives changed or converted into a certaine terme or termes for ninety six yeares to bee computed from the Five and twentieth day of January which shall bee in the yeare of our Lord One thousand six hundred ninety five of and in such or the like Annuities as they have for single lives as aforesaid or that they or such as they shall nominate his her or their Executors Administrators and Assignes respectively (for the like price or consideration) shall or may bee intituled to have receive and enjoy the like Annuity from and after the determination of his her or their Estate for a single life as aforesaid for and dureing the residue which shall bee then to come and unexpired of the said terme of Ninety six yeares and in cases where the present Owner of an Annuity for a single life as aforesaid is or may bee unwilling (if any such bee) to purchase a further or more certaine Estate or Interest therein it is likely that some other person or persons is or may bee desirous to bee admitted (though att a rate or consideration something higher) to purchase a future Estate or Interest in such or the like Annuity or Annuities to take effect from and after the determination of the term for the single life in being and to continue for and dureing the residue and remainder of the said terme of Ninety six yeares which shall bee then to come and unexpired. Now for the encouragement of such persons as shall voluntarily contribute or advance att the respective rates herein after mentioned any moneys into the Receipt of his Majesties Exchequer for such further or more certaine Estates or Interests as aforesaid and for y^e better supplying of moneys (with as much ease and att as little charge as may bee) for the carrying on the Warr against the French King Be it enacted by the Kings most excellent Majestie by and with the advice and consent of the Lords Spiritual and Temporal and the Co[m]mons in this present Parliament assembled and by the authority of the same that it shall and may bee lawfull to and for any Person or Persons Natives or Forreigners being (as original Contributors or by mesne assignments or by other lawfull ways and means) intituled to any Estate for one life (his own or the life of any other person) of or in any Annuity purchased or obtained upon the Acts aforesaid or any of them att the said rates of One hundred pounds for every Foureteen pounds per Annum att any time before the Foure and twentieth day of July One thousand six hundred ninety five to advance and pay into the Receipt of his Majesties Exchequer soe much money as every or any such Annuity being computed for Foure yeares and an halfe doth or shall amount to (that is to say) every such person shall or may pay to his Majesties use for every hundred pounds that was paid for the single life in an Annuity of Fourteen pounde per Annum the su[m]m of Sixty three pounds more for changeing or converting the same into a certaine terme for the said Ninety six yeares or for a further interest to take effect after the Estate for life as aforesaid and in the same proportion for higher or larger Annuities and every such person on such payment made shall im[m]ediately have one or more Tallie or Tallies importing the Receipt of the consideration money soe paid and upon every [X2 such] Talley there shall be written proper words purporting (att the election of the Contributor or of the person by him authorized to pay in his money) that such payment is made either in consideration of changeing and converting such his Annuity for life into a certaine and absolute Estate or terme for the said Ninety six yeares or else in consideration of a like Annuity to bee payable to him or them or such as hee or they shall nominate his her or their Executors Administrators and Assignes from the determination of such Estate for life dureing the then residue of the said Ninety six yeares and that by or upon the makeing every such payment as aforesaid in every case where the Talley shall import the changing or converting the Estate for life into a terme of Ninety six yeares the person or persons so contributing the said consideration money or the person or persons to bee nominated as aforesaid his her or their Executors Administrators and Assignes shall bee intituled to have receive and enjoy and shall have receive and enjoy and shall have a good sure and absolute Estate and Interest of and in an Annuity yearely rent or payment (equal by the yeare to the Annuity which hee she or they had before for one life) for and dureing the said whole terme of Ninety six yeares to bee paid and payable out of some of the Funds in the said Acts menc[i]oed (that is to say) out of such of them respectively as the Annuity for life was by the said Act charged upon and to bee paid att the foure most usual Feasts in the yeare by equal portions as the Annuities by the said former Acts are payable and in all such cases the said present estates for Life shall bee understood to bee merged or extinguished in the said terme of yeares and that in every case where the said Tallies shall import the consideration money to bee paid for a future interest to take effect either in the person that contributes the same or in any others to bee nominated as aforesaid the person or persons soe contributeing the said consideration money or so to bee nominated his her or their executors administrators and assignes shall presently have a good sure and absolute estate vested in him her or them by this Act and which shall take effect (as a future interest) after the determinac[i]on of the estate for Life and continue and endure dureing soe long time as shall bee then to come and unexpired of and in the said terme of Ninety six yeares and in the cases last mentioned it is to bee understood that the present estate for life is continued.

Editorial Information

X1 Variant reading of the text noted in The Statutes of the Realm as follows: and O. [O. refers to a collection in the library of Trinity College, Cambridge]

X2 interlined on the Roll.