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Life Annuities Act 1808

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Life Annuities Act 1808

1808 CHAPTER 142

An Act for enabling the Commissioners for the Reduction of. the National Debt, to grant Life Annuities.

[2nd July 1808]

WHEREAS by several Acts passed in the Reign of His present Majesty, videlicet, an [26 G. 3. c. 31.] Act passed in the Twenty-sixth Year of His Majesty, intituled, An Act for vesting certain Sums in Commissioners at the End of every Quarter of a Year, to be by them applied to the Reduction of the National Debt ; an [32 G. 3. c. 55.] Act passed in the Thirty-second Year of His Majesty, intituled, An Act to render more effectual an Act made in the Twenty-sixth Year of His present Majesty's Reign, intituled, An Act for vesting certain Sums in Commissioners at the End of every Quarter of a Year, to be by them applied to the Reduction of the National Debt; and to direct the Application of an additional Sum to the Reduction of the said Debt, in case of future Loans ; and an [42 G. 3. c. 71.] Act passed in the Forty-second Year of His Majesty, intituled, An Act to amend and render more effectual Two Acts passed in the Twenty-sixth and Thirty-second Years of the Reign of His present Majesty for the Reduction of the National Debt; certain Provisions Were made for the Establishment and Regulation of the Funds therein created or directed to be created for the Redemption of the National Debt, commonly called The Sinking Fund: And whereas it would tend to a more speedy and efficient Reduction of the National Debt, if the Commissioners for the Reduction of the laid Debt were enabled, under certain Limitations and Redactions, to grant Life Annuities, charged upon and payable out of the Funds created as aforesaid for the Redemption of the National Debt, in Consideration of the Transfer to them of Three bounds per Centum Consolidated or Reduced Bank Annuities; and it is therefore expedient that the Provisions of the laid recited Acts, relating to the Redemption of the National Debt, mould be varied and amended in so far as may be necessary for carrying the said Measure into Effect, and as herein-after expressed;

be it therefore enacted by the King's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same,

Yn ôl i’r brig

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