BHO

William III, 1697-8: An Act for inlarging the time for purchasing certain Estates or Interests in several Annuities therein mentioned. [Chapter XXIV. Rot. Parl. 9 Gul. III.p.4.n.6.]

Pages 385-386

Statutes of the Realm: Volume 7, 1695-1701. Originally published by Great Britain Record Commission, s.l, 1820.

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Citation:

In this section

Annuitants for One Life, at the Rate of £14 per Cent., under the several Acts mentioned in Stat. 6 & 7 W. III. c. 5. may advance Four Years Purchase for changing the same into the Residue of the 96 Years Term herein mentioned, to take Effect after the said Estate for, Life.

And Annuitants not having such Estate for Life may make the like Payment and have the like Residue of the 96 Years Term, subject to Estate for Life, and so in Proportion for higher Annuities.

We Your Majesties most dutifull and loyal Subjects the Co[m]mons in Parliament assembled duly considering Your Majesties extraordinary Occasions for Supplies of Money do cheerfully and unanimously present unto Your Majesty a further Aid to arise by the Contributions herein after mentioned And be it enacted by the Kings most Excellent Majesty by and with the Advice and Consent of the Lords Spiritual and Temporal and the Co[m]mons in this present Parliament assembled and by the Authority of the same That it shall and may be lawfull to and for any Person or Persons Natives or Foreigners having or not having any Estate for one Life of and in any Annuity purchased or obtained at the Rate of One hundred Pounds for every Fourteen Pounds per Annum upon the several Acts of Parliament mentioned in an Act made and passed in the Parliament which was holden at Westminster in the Sixth and Seventh Years of His Majesties Reign (intituled An Act for enabling such Persons as have Estates for Life in Annuities payable by several former Acts therein mentioned to purchase and obtain further and more certain Interests in such Annuities and in default thereof for admitting other Persons to purchase and obtain the same for raising Money for carrying on the War against France) at any time before the First Day of December One thousand six hundred ninety eight to contribute advance and pay into the Receipt of His Majesties Exchequer so much Money as every or any such Annuity being computed for Four Years doth or shall amount unto (that is to say) every such Person having or being intituled to such Estate for Life shall or may pay to His Majesties Use for every one hundred Pounds that was paid for the single Life in any Annuity of Fourteen Pounds per Annum the Sum of Six and fifty Pounds for changeing or converting the same into a certain Terme for the Residue which shall be then to come of Ninety six years to be reckoned from the Five and twentieth Day of January One thousand six hundred ninety five or for an Interest in such Annuity for the Residue of the said Terme of Ninety six Yeares to take effect after the said Estate for Life and every Person not having such Estate for Life shall or may contribute or pay to His Majesties Use for every Hundred Pounds that was paid for the single Life in any such Annuity of Fourteen Pounds per Annum the like Sum of Six and fifty Pounds for an Interest in such Annuity for the Residue of the said Term of Ninety six Years to be charged with and subject to the present. Estate for Life of and in the same Annuities respectively and in the same Proportion there shall be paid a Rate or Consideration for higher or larger Annuities And that all and every the Person and Persons so paying the Consideration Money as aforesaid shall im[m]ediately upon Payment of their Moneys be intituled by this Act to such Annuity or Annuities so to be purchased and the same shall be charged upon such respective Fund or Revenue in the said former Act mentioned as if the Consideration Money so to be contributed or advanced for the same had been actually advanced or contributed within the respective times limitted by the said former Act.

II. Stat. 6 & 7 W. III. c. 5. revived.

And it is hereby further enacted That all and every the Directions Powers and Clauses in the said former Act contained for or concerning the levying of Talleys the making forth of Orders or for making Transferrences or Assignements or for the apportioning or applying the Moneys arising by the said Funds or Revenues or any of them or for appointing setling or establishing any other Matter or Thing for or in relation to the respective Annuities thereby purchased or obtained shall be and are by force and virtue of this Act revived and shall be duly observed practised and put in Execution for and in respect of such Annuities as shall be purchased and obtained upon this Act as fully and effectually as if the same Powers Directions and Clauses were here again expressed and particularly repeated.

III. Appropriation of Monies contributed.

And be it further enacted by the Authority aforesaid That all Moneys which shall come into the Receipt of His Majesties Exchequer of or for the said Contributions for further or more certaine Estates in the said Annuities to be purchased as aforesaid shall be issued and applyed and the same are hereby appropriated towards the Payment and Satisfaction of the Off-reckonings of His Majesties Army for the Year One thousand six hundred ninety seven And that out of the same the Persons concerned in clothing of the Army for the Yeare aforesaid be paid so much as is due to them or any of them for such clothing that is chargeable upon the Off-reckonings of the said Year.