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Deferred Annuities may be granted with a Condition that Purchase Money shall be returnable;
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IV. The said Commissioners may grant such Deferred Life Annuities on condition that the Purchase Money shall be returnable, but without Interest, in which Case such Purchase Money without Interest shall be returnable at any Time on the Application of the Person beneficially interested in such Annuity, or after his Death on the Application of his Executors or Administrators; provided always, that in no Case whatever shall such Purchase Money or any Part thereof be returned after the first Payment of the said Annuity shall have actually become due, and the Monies so returnable shall be charged, paid, and defrayed out of the Monies standing in the Names of the said Commissioners at the Bank of England under the Provisions of this Act.
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