Life Annuities Act 1808

1. Introductory Text

2. Commissioners for Reduction of National Debt empowered to accept Transfers for the Purchase of Life Annuities.

3. II. Allowing the domination of Lives.

4. III. Age of Nominees.

5. IV. Previously to Transfer, Parties to produce Certificates of Age of Nominees.

6. V. Providing for Proof when Certificates cannot be produced.

7. VI. Average Prices of Stocks to be daily made out and transmitted to Officer.

8. VII. Granting a Certificate, upon the Production of which the Stock may be transferred, and the Party receive an Acquittance.

9. VIII. Purchasers of Life Annuities on single Lives, to be entitled to the Annuities specified in Schedule (D).

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

11. X. Annuities to be accepted in the Books of the Governor and Company of the Bank of England.

12. XI. Preventing Fractions.

13. XII. Allowing Annuitants to make further Purchases on Lives of original Nomminees, without fresh Certificates.

14. XIII. Annuities on the Life of One Nominee not to exceed 1000l. nor for Two Nominees 1500l.

15. XIV. Persons appointed by the Commissioners may accept Stock, arid Dividends shall be received at the Bank, and constitute Part of the Sinking Fund.

16. XV. Annuities to be payable Half-yearly.

17. XVI. Preventing Frauds in the Receipt of the Annuities, by Production of Certificates of Life of Nominees.

18. XVII. Affidavit to be annexed to such Certificates of Identity.

19. XVIII. Upon Production of Certificates and Affidavits, a Certificate to be granted upon which Annuity shall be payable.

20. XIX. Certificates of Death of single or surviving Nominee to be produced to the said Officer, in order to enable the Person entitled to receive the Portion of the Annuity payable in that Event.

21. XX. Life Annuities to be transferrable.

22. XXI. Life Annuities to be free from Taxes, except such as dividends of Consoles and Reduced Annuities are liable to, and be deemed Personal Estate.

23. XXII. Penalty on producing false Certificates and Affidavits.

24. XXIII. Penalties on receiving Annuities after the Deaths of Nominees.

25. XXIV. Annuities ceasing to revert to Sinking Fund.

26. XXV. Certificates, Affidavits and Transfers of Stock and Life Annuities, to be exempt from Stamp Duties.

27. XXVI. Persons making false Affidavits guilty of Perjury.

28. XXVII. Punishment for forging Registers, Certificates &c.

29. XXVIII. Recovery and Application of Penalties.

30. XXIX. No Fees to be taken.

31. XXX. Commissioners to appoint Clerks and Officers.

32. XXXI. For defraying Expences.

33. XXXII. The Chief Baron added to the Number of Commissioners for the Reduction of the National Debt.

34. XXXIII. Quorum of Commissioners.

35. XXXIV. Accounts to be laid before Parliament.

36. XXXV. Limitation of Actions.

37. XXXVI. Act may be altered this Session.

38. SCHEDULES to which this Act refers.

    1. SCHEDULE (A.)

       FORM of the DECLARATION to be signed by Persons desirous of purchasing Life Annuities for themselves, or on Behalf of others

    2. SCHEDULE (B.)

       FORM of CERTIFICATE so be granted by the said Officer, in order to enable the Transfer of Stock at the Bank of England for the Purchase of Life Annuities

    3. SCHEDULE (C.)

       FORM of CERTIFICATE of the Cashier of the Bank of England, acknowledging the Transfer of Bank Annuities for the Purchase of Life Annuities

    4. SCHEDULE (D.)

    5. SCHEDULE (E.)

    6. SCHEDULE (F.)

       FORM of the CERTIFICATE to be granted, by the said Officer, in order to enable the Receipt of the Annuity from Time to Time at the Bank, of England

    7. SCHEDULE (G.)

       FORM of the CERTIFICATE to be granted by the said Officer, in order to enable the Receipt of One-fourth Part of an Annuity, upon the Death of a single or surviving Nominee