17Suspension of payments on account of capital of terminable annuities
In the financial year ending the thirty-first day of March nineteen hundred and one the payment of such portions of the instalments of the terminable annuities mentioned in the First Schedule to this Act as may be certified to the Treasury, under the hand of the Comptroller-General or Assistant Comptroller and of the Actuary of the National Debt Office, to be applicable to the replacement of capital, shall be suspended, and the amount of the permanent annual charge for the National Debt shall accordingly in that year be reduced by an amount equal to the amount of the suspended payments.
Provided that the Treasury shall, by warrant to the Bank of England, prolong the terminable annuities for a year.