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Treasury

shall direct

of Annuities

the Equivalent to such Sum of Money so payable after Death as aforesaid.

XXVII. And be it enacted, That for the better carrying this Act Use of Tables into execution it shall and may be lawful for the Commissioners of of the Value Her Majesty's Treasury, from Time to Time as they shall think fit, 5 as approved to direct the Commissioners for the Reduction of the National Debt of by them. to use and adopt such Tables as shall from Time to Time be authorized and approved of by the said Commissioners of the Treasury for ascertaining the Values of Deferred Annuities depending on the Continuance of single Lives, or of joint Lives with Benefit of Survivorship 10 and also such Tables of the Values of Deferred Annuities for Life or for a Term of Years as may be granted according to the Provisions of this Act, as well as Tables for Payment of Sums of Money at Death, and such respective Tables shall be valid and effectual for the Purposes of this Act; and all Annuities for Lives or Years to be 15 purchased under the Provisions of this Act shall be purchased, and all Payments for Sums to be secured at Death shall be made, according to the Values stated in such Tables respectively, so long as the same shall remain in force; and it shall be lawful for the said Commissioners of the Treasury to alter, revoke, and recal all or any of the 20 said Tables from Time to Time, and to direct the Use and Adoption of such other Tables in lieu thereof as shall be approved of by the said Commissioners of the Treasury, and also to discontinue, by any Warrant under their Hands addressed to the said Commissioners for the Reduction of the National Debt, the granting of any Deferred 25 Annuities for Lives or Years or the Payments at death under the Provisions of this Act, if they shall think it expedient so to do: Provided always, that the said Commissioners for the Reduction of the National Debt shall, previous to the Adoption and using of such Tables and Discontinuance of the granting of such Annuities or Payments as 30 aforesaid, give Notice thereof from Time to Time in the London and Dublin Gazettes in such Form and Manner as to the said last-mentioned Commissioners shall seem fit and proper.

Repeal of

c. 83. s. 8.

which prevents An

XXVIII. And be it enacted, That from and after the passing of 7 & 8 Vict. this Act so much of the said Act passed in the Eighth Year of Her 35 present Majesty as provides that no Annuity or Annuities sold or nuity to be granted to or possessed by any one Individual under the said lastpurchased of mentioned Act, or the said Act passed in the Fourth Year of the less than 47. Reign of His late Majesty, shall be less than Four Pounds shall be repealed.

Annuity of 17. per

per Annum,

XXIX. And be it enacted, That every Annuity to be hereafter sold or granted to any one Individual under the said last-mentioned Acts or this

40

this Act shall be for a Sum of One Pound per Annum, or of some Annum may Multiple thereof without any fractional Sum less than One Pound, and be purchased. shall not exceed in the whole the Sum of Thirty Pounds per Annum, and the Purchase Money for every such Annuity not amounting to 5 Four Pounds per Annum shall be paid in One single Sum and not by annual Payments.

3 W. 4. c. 14. s. 3. and

7

& 8 Vict.

c. 83. s. 9. as

XXX. And be it enacted, That from and after the passing of this Repeal of Act so much of the said Act passed in the Third Year of the Reign of His late Majesty King William the Fourth, and so much of the 10 said Act passed in the Eighth Year of the Reign of Her present to taking Majesty, as authorizes the taking any Sum for Admission Fee or Fees on Purotherwise on entering into any Contract for the Purchase of any nuity. Annuity under either of the said last-mentioned Acts shall be repealed.

chase of An

XXXI. And be it enacted, That no Money which shall have been Money paid for Deferred 15 paid as the Consideration for any Deferred Annuity, granted under Annuity the Provisions of this Act, shall be returnable to the Executors or under this Administrators of the contracting Party if he or she should die before Act not the said Deferred Annuity shall become payable.

returnable.

ers of the

National

XXXII. And be it enacted, That it shall and may be lawful for Commission20 the Commissioners for the Reduction of the National Debt to grant Annuities under and subject to the Provisions contained in the said Debt may herein-before mentioned Acts passed in the Third Year of King Bank Annui grant Savings William the Fourth and the Eighth Year of Her present Majesty or ties. this Act, and that any Person having contracted for the Purchase of 25 any Annuity under the Provisions of any of the said Acts with the Trustees of a Savings Bank or the Trustees of any Parochial Society may make the future annual and other Payments, and receive the Annuity so contracted for as aforesaid, at the Office of the said Commissioners under such Regulations as the said Commissioners shall 30 from Time to Time direct.

Immediate

XXXIII. And be it enacted, That it shall be lawful for the Com- Commissionmissioners for the Reduction of the National Debt, if they shall think ers may grant fit, to grant, under the Provisions of the said recited Acts, Immediate or Deferred or Deferred Annuities to any Amount for Terms of Years to the Annuities to any Amount 35 Trustees of any Friendly or Charitable Society whose Rules have been to Trustees approved of by the Registrar of Friendly Societies in England, Scot- of any land, or Ireland, on a Declaration to be made in such Form as the Charitable said Commissioners shall direct, provided that no one Person shall Society. receive a greater Sum in any one Year than Thirty Pounds out of the 40 Annuities so purchased.

284.

XXXIV. And

Friendly or

Payment to
Married
Women of
Annuities,
when valid.

Payment on
Death of

being illegitimate.

XXXIV. And whereas Annuities under the said recited Acts may have been purchased and may be purchased under the said recited Acts or this Act by or on behalf of Women who may be married, or on account of Women who may afterwards marry: Be it enacted, That it shall be lawful for the Treasurer of any Savings Bank, or the 5 Trustees or Managers of any Parochial Society, or the Commissioners for the Reduction of the National Debt, to pay any such Annuity to any such Woman notwithstanding her Marriage, unless the Husband of such Woman shall give to such Treasurer, or to such last-mentioned Trustees or Managers, or the said Commissioners, Notice in Writing of 10 such Marriage, and shall require Payment to be made to him.

XXXV. And be it enacted, That if any Depositor, being illeDepositor, gitimate, shall die intestate, leaving any Person or Persons who but for the Illegitimacy of such Depositor would be entitled as next of Kin to the Money due to such deceased Depositor, it shall be lawful for 15 the Treasurer, with the Authority in Writing of the Barrister appointed to certify the Rules of Savings Banks, to pay the Money due to such deceased Depositor to such One or more of the Persons who in the Opinion of the Trustees or Managers would have been entitled to the same as next of Kin if the said Depositor had been legitimate.

Messuages, &c. to vest

in the Trustees.

Trustees may dispose of Lands, &c.

when closed

20

XXXVI. And be it enacted, That all Messuages, Lands, and Tenements already or which may be hereafter purchased by the Trustees of any Savings Bank, out of the Funds of such Institution, shall vest in or belong to the Trustees thereof for the Time being, and their Successors, in trust for the said Savings Bank, and 25 for the like Estate and Interest, and subject to all the Covenants, Conditions, and Agreements on which the same are or may be respectively holden.

XXXVII. And be it enacted, That it shall be lawful for the Trustees of any Savings Bank, with the Consent in Writing of the 30 Commissioners for the Reduction of the National Debt, or the said Comptroller General or Assistant Comptroller for the Time being, to sell and dispose of all Messuages, Lands, and Tenements which may be vested in them under the Provisions of this Act, and to convey the same so sold accordingly, and the said Trustees shall stand possessed 35 of the Proceeds thereof as Part of the Funds of the said Savings Bank.

Property of XXXVIII. And be it enacted, That in case any Savings Bank shall Savings Bank have been or may hereafter be finally closed for the Receipt of Deposits, the Trustees thereof shall and they are hereby required, at the and Proceeds Request of the said Commissioners or the said Comptroller General 40 or Assistant Comptroller, to sell and dispose of all Messuages, Lands,

to be sold

to be handed over to the

and

Reduction

and Tenements, and all the Personal Estate of what Nature or Kind Commissionsoever, which may be vested in them under the Provisions of the said ers for the recited Acts or this Act, and to pay over the Proceeds thereof, of the Naafter deducting all legal Claims on them as such Trustees as afore- tional Debt. 5 said, to the Account of the said Commissioners in the Bank of England under the Title of the "Fund for the Banks for Savings."

Commis

XXXIX. And be it enacted, That if it shall appear to the Satis- Commissionfaction of the Commissioners for the Reduction of the National Debt ers may close Account that the Clauses of the said recited Acts and this Act, or the Orders, with Savings 10 Directions, and Regulations of the said Commissioners, signified by visions of Bank, if Prothe Comptroller General or Assistant Comptroller to the Trustees or Acts and Managers of any Savings Bank, have not been complied with, it shall Orders of and may be lawful for the said Commissioners, if they shall so think sioners are fit, to close the Account of the said Savings Bank, and to direct that not complied with; 15 no further Sum shall be received at the Bank of England or Ireland and not refrom such Savings Bank to the Account of the Commissioners, and ceive or pay Money. that no Money shall be paid by the said Commissioners to the Trustees or Treasurer of the said Savings Bank, until such Time as such Commissioners shall think fit: Provided always, that the said Com- Commission20 missioners may re-open and allow the growing Interest of such Ac- open Accounts during the Time of such Discontinuance, and authorize the counts. Receipt of Money at the Bank of England or Ireland, and Payment of Money to the said Trustees or Treasurer, whenever the said Commissioners shall think fit so to do, upon such Trustees or Managers 25 complying with the Directions of such Commissioners, and the said Commissioners shall forthwith publish a Notification of such Account being closed, or of the same being re-opened, in the London or Dublin Gazette, as the Case may be, and also in some Newspaper published in the City, Town, or County in which the said Savings Bank shall 30 be established.

ers may re

Provisions of 9 G. 4. c. 92.,

3

5

W. 4. c.14, & 6 W. 4.

XL. And be it enacted, That all the Provisions of the Acts now in force relating to Savings Banks, and to the Purchase of Government Annuities through the Medium of Savings Banks, so far as the same or any Part thereof may or can be applicable to the Purposes of 35 this Act, shall extend and apply thereto in such and the same Manner c. 83., exas if the Provisions of the said Acts had been expressly re-enacted herein.

c. 57., and 7 & 8 Vict.

tended to this Act.

continue in

XLI. And be it enacted, That the Act made and passed in the 11 & 12 Vict. Session holden in the Eleventh and Twelfth Years of the Reign c. 133. to 40 of Her present Majesty, intituled "An Act to amend the Laws force till "relating to Savings Banks in Ireland," shall continue in force until the 20th Nov. Twentieth Day of November One thousand eight hundred and fifty.

284.

XLII. And

1850.

5

Extent of
Act.

Act may be amended.

XLII. And be it enacted, That this Act shall extend to Great
Britain and Ireland, Berwick-upon-Tweed, and the Islands of Guernsey,
Jersey, and Isle of Man.

XLIII. And be it enacted, That this Act may be amended or repealed by any Act to be passed in this Session of Parliament.

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