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,
Commissioners for Reduction of the National Debt empowered to accept Transfers for the Purchase of Life Annuities.
That notwithstanding any Thing in the said recited Ads, or any of them, contained to the contrary thereof, it shall be lawful for the Commissioners for the Reduction of the National Debt, at any Time from and after the First Day of August One thousand eight hundred and eight, to accept arid receive from any Person or Persons whomsoever, the Transfer of any Three Pounds per Centum Consolidated or Reduced Bank Annuities, as the Consideration for the Purchase of Life Annuities, to be charged upon and payable out of the Funds created as aforesaid, for the Redemption of' the National Debt, commonly called The Sinking Fund, either on the Continuance of single Lives, or on the Continuance of Two Lives, and the Life of the longer Liver of them, in the Manner and under the Limitations, Reflections, and Regulations herein-after expressed: Provided always, that if it shall appear to the said Commissioners that such Transfers cannot conveniently be received until after some Day subsequent to the said First Day of August, it shall be lawful for them to appoint some other Day after the said First Day of August, and prior to the Tenth Day of October One thousand eight hundred and eight, giving Notice in the London Gazette of the Day so appointed by them, after which such Transfers may be received.
II. Allowing the Nomination of Lives.
And be it further enacted, That all and every Persons or Person who shall be desirous of purchasing under the Provisions of this Act, a Life Annuity on the Continuance of a single Life, mall be at Liberty to name any Person to be the Nominee, on the Continuance of whole Life the said Annuity is to depend; and all and every Persons or Person who shall be desirous of purchasing a Life Annuity on the Continuance of the Lives of Two Persons, and of the Life of the longer Liver of them, shall be at Liberty to name any Two Persons to be the Nominees, On the Continuance of whose Lives and of the Life of the longer Liver of them, the said Annuity is to depend: Provided always, that nothing herein contained shall be construed to prevent Persons purchasing Life Annuities under this Act, from naming themselves respectively to be the Persons on the Continuance of whose Lives such Life Annuities respectively are to depend.
III. Age of Nominees. Provided always, and be it further enacted, That it shall not be lawful to name any Person to be, a Nominee, either for an Annuity on the Continuance of a single Life, or for an Annuity on the Continuance of Two Lives, and the Life of the longer Liver of them, who shall be under. the Age of Thirty five Years at the Time of such Nomination: Provided also, that no Person who shall not be a Native of, and resident in, the United Kingdom of Great Britain and Ireland, than be capable of being. the Nominee in respect of any Life Annuity which shall be purchased by or on the Behalf of any other Person or Persons.