Life Annuities Act 1808

XXXIV Accounts to be laid before Parliament.

And be it further enacted, That the following Accounts shall be prepared by the said Commissioners for the Reduction of the National Debts and shall be annually laid before both Routes of Parliament, on or before the Twenty-fifth Day of March if Parliament shall be then sitting; and if Parliament shall not be then fitting, then within Fourteen Days after the Commencement of the then next Session of Parliament; videlicet, a Half-yearly Account of all Bank Annuities which shall have been transferred to them for the Purchase of any Life Annuities, and of the Dividends receivable by them In respect thereof, up to the Period of such Account; distinguishing therein so much of the said Bank Annuities as shall have been transferred in the Course of the next immediately preceding Half Year; also a Half-yearly Account of the Amount of all the Life Annuities granted by them up to the Period of such Account, distinguishing therein the Amount of the life Annuities which shall have been granted in the Course of the next immediately preceding Half Year; and also of the Amount of all the Annual Sums which, up to the Period of the laid Account, shall, by reason of the Deaths of Nominees or otherwise, have reverted to the said Funds applicable to the Reduction of the National Debt, distinguishing therein the Amount of such Annual Sums as shall have so reverted in the Course of the next immediately preceding Half Year, together with an Account of the Amount of Life Annuities, then payable ; and in every such Account shall be specified the Excess in the whose Amount of all the Life Annuities then before granted, above the Amount of the Dividends receivable in respect of all the Bank Annuities then before transferred for the Purchase of Life Annuities, and also the Excess (if any) in the Amount of the Life Annuities then payable above the Amount of such Dividends : Also a Half-yearly Account of the Capital Stock, which, up to the Period of such Account, mail have been redeemed by the Application of the Annual Sums which shall from Time to Time: have so reverted to the said Funds by reason of the Deaths of Nominees, or otherwise and by the Application of the accumulated Dividends of the Capital Stock thereby redeemed: also an Account of the whole Amount; of Three Pounds per Centum Bank Annuities, which, up to the Period of such Account, would have been redeemed by the Excesses in the Amount of the Life Annuities, from Time to Time payable by the said Commissioners, above the Amount of the Dividends from Time to Time receivable by them in respect of the Bank Annuities transferred for the Purchase of such Life Annuities, in case such Excesses had been intermediately applied in the Redemption of Three Pounds per Centum Stock, in the Manner prescribed by the Laws now in force for the Redemption of the National Debt.