|
|
Payment of money and cesser of annuity.
35 & 36 Vict. c. 44.
|
3. The money for the redemption of the annuity, in case the owner is an ecclesiastical corporation in England, shall be paid to the Ecclesiastical Commissioners, and in other cases where the owner is a limited owner shall, and in any case where the owner is not a limited owner may be paid into the Court of Chancery to an account intituled ex parte the owner of the annuity in the matter of this Act, or to such other account as may be directed by the said Court, or by a rule under the Court of Chancery Funds Act, 1872, and shall be applied by or under the direction of the Ecclesiastical Commissioners and the said Court respectively for the benefit of the person entitled thereto.
|
|
| |
As soon as any money is paid in pursuance of any contract for the redemption of any annuity, that annuity shall cease to be charged on and payable out of the Consolidated Fund, or moneys provided by Parliament, so, however, that any proportionate part of such annuity which may be due up to the time of such payment shall be paid to the person entitled thereto.
|
