64
THE NEW ZEALAND GAZETTE.
Delivery of contract sufficient receipt for single Premium.
10. If the Contractor be required by the contract
to pay for the insurance of his life by a single
Premium, the delivery of the contract to him, on
payment by him of the said Premium, shall be a
sufficient receipt for the Premium.

Default of payment.
11. The Premiums due annually must in every
case be paid by the Contractors within three weeks
after the day appointed by the contracts for such
payments. The Premiums due more frequently than
once in each year under contracts for the insurance
of lives must in every case be paid by the Con-
tractors within two weeks after such payments shall
fall due. And any Contractor who shall omit to pay
his Premiums within the time limited for the pay-
ment of such Premiums, shall be held to have made
default of payment.

In default of payment, contract may be renewed.
12. If any Contractor for an insurance on his life
shall thus make default in payment, the contract for
the insurance of his life shall be null and void; and
if he shall desire to renew the said contract, he must
make application accordingly to the Government
Annuities Commissioner within four weeks from the
date on which the default of payment shall occur.
On receipt of the said application, the said Commis-
sioner shall, if he think fit, but not otherwise, renew
the contract with the defaulting Contractor, and
shall, as a condition of such renewal of the contract,
require the defaulting Contractor to pay any arrears
of Premium from the date of default which shall be
due from him, and shall also, if he think fit, require the
defaulting Contractor to pay a fine for default, not
exceeding the amount of the Premium.

Contract may be surrendered after five years' payment.
13. If any Contractor for an insurance on his life,
after having paid the Premiums due under the con-
tract with him, for a period of not less than five
years, shall desire to surrender the said contract, or
shall make default in the payments due under that
contract, the said Commissioner, on the application
of the person beneficially interested in the said con-
tract, on a form to be obtained at any Money Order
Office, shall pay to such person such sum of money,
not being less than one-third of the Premiums which
shall have been paid by him, as shall be fixed by any
regulations which may be framed for the purpose
under the authority of "The Government Annuities
Act, 1869," or shall grant to such person such a
paid-up contract of assurance as shall be equivalent
in value to the said sum of money.

Contracts may be assigned after five years' payment.
14. If any Contractor for an insurance on his life,
after having paid for five years or upwards the
Premiums due under the contract with him, shall
desire to assign to some other person his right and
interest in the said contract, he shall notify such
desire to the said Commissioner, on a form to be
obtained at any Money Order Office, and shall pay
such fee and conform to such conditions as shall be
required by the said Commissioner under the regula-
tions which shall be framed for the purpose. The
assignee of such contract shall take, both at law and
in equity, all such right and interest therein, in-
cluding rights to sue, if any, as was possessed by the
assignor, but no other or greater right or interest.

On proof of death, the Commissioner to issue warrant for
payment.
15. On the death of any Contractor for an in-
surance on his life, and on production to the said
Commissioner of probate of the will of the said
Contractor, or of letters of administration to the
effects of the said Contractor, or of an assignment of
the contract with the said Contractor made under
such conditions as shall hereafter be prescribed by
the regulations, and on production of a certificate of
the death or a certificate of the burial of the said
Contractor, together with a statutory declaration
made before a Justice of the Peace by some person
not beneficially interested in the contract, of the
identity of the Contractor with the person named in
the certificate of death or certificate of burial, and on
production of such other evidence of death and
identity as the said Commissioner shall see fit to
require, the said Commissioner shall issue to the
executor, administrator, or assignee of the said Con-
tractor a warrant for the sum due under the contract,
which warrant shall be payable forthwith, upon
delivery of the contract at such one of the offices
appointed for the purpose as the executor, adminis-
trator, or assignee shall select.

Annuities.
16. At the offices appointed for the purpose by
the Government Annuities Commissioner, proposals
shall be received—

(1.) For the purchase by a single payment of an
immediate Life Annuity, payable half-yearly,
of not less than £4.

(2.) For the purchase by a single payment of an
Annuity of not less than £1, and payable
half-yearly on and from the second quarter
day next following the expiration of a term of
years, the condition of such purchase being
that no part of the purchase money shall in
any event be returned;

Deferred Annuity Premiums non-returnable.

(3.) For the purchase by an annual payment
throughout a term of years of an Annuity of
not less than £4, and payable half-yearly, the
condition of such purchase being that no part
of the purchase money shall in any event be
returned;

(4.) For the purchase by a single payment or
by an annual payment for a term of years of
an Annuity of not less than £4, payable
half-yearly, the conditions of such purchase
being that if the Proprietor shall die before
the Annuity becomes due, the purchase money
shall be returned to his representatives;
but no such proposal shall be received from or on
behalf of a person under the age of ten years.

Form of Proposal.
17. Every person who shall desire to purchase an
immediate Annuity, or a deferred Annuity, shall, if
he has not previously made any such purchase, make
his proposal in the following form, to be obtained at
any Money Order Office, and shall deposit the pro-
posal at one of the offices appointed by the Govern-
ment Annuities Commissioner for the receipt thereof.

ANNUITIES.

FORM OF STATEMENT to be made by persons proposing
to purchase Government Annuities under the pro-
visions of "The Government Annuities Act, 1869,"
on Lives for the benefit of which no such Annuities
have been purchased at any previous time.

| Instructions to Proposer. | Statement to be made by
Proposer. |
|---|---|
| Your full Christian Name or | I.
Names and your Surname | (a) |
| should be written on the line | |
| marked (a) | |
| Your trade or occupation should | (b) |
| be stated on the line marked | resident at |
| (b) | ... |