66

But this contract is made subject to the following provisos :-
1st. No payment of the said shall be claimed or
be recoverable until shall to the satisfaction
of the said Commissioner have proved himself to be
alive at the date of payment becoming due.
2nd. This contract shall be void, and the purchase money
or sum of £ shall be forfeited, if the age of
be less than at the date of contract.

FORM OF CONTRACT for the Grant of a Deferred
Annuity when the Purchase Money shall be paid
by Annual or more frequent Instalments, and when
the Conditions of Purchase shall be that no part of
the Purchase Money shall in any case be returnable.

WHEREAS under the provisions of "The Government Annuities
Act, 1869," I, the undersigned, now holding the office of Go-
vernment Annuities Commissioner, am authorized to execute
contracts for the grant of Annuities: And whereas
has contracted with me the Chief Commissioner for the pur-
chase of of £ to be paid to and has
deposited with me, the said Commissioner, a proposal and
declaration dated the day of one thousand eight
hundred and and signed by him, as the basis of the
contract for the purchase of such in which proposal it
is stated, amongst other things, that the age of is not
less than years: And whereas has paid to
me the said Commissioner the sum of £ being the first
payment due under such contract: Now it is hereby declared
that if the said shall pay to the Government Annuity
Commissioner the sum of £ in the present year, and in
every subsequent year up to the date at which the
according to the contract, to commence, then the said Commis-
sioner shall, pursuant to the said Act, be subject and liable to
pay to the said the sum of £ on
without any deduction or abatement whatsoever.

But this contract is made subject to the following provisos :-
1st. No payment of the said shall be claimed or
recoverable until shall to the satisfaction of
the said Commissioner have proved himself to be alive
at the date of the payment becoming due.
2nd. This contract shall be void, and all the sums paid
under it on account of the purchase money shall be
forfeited, if the age of be less than at
the date of contract.

Further Annuity may be granted to Contractor.

21. If any person who shall have purchased an
    Annuity, and who shall have produced proof of the
    age of the person for whose benefit and on whose
    life such an Annuity shall have been purchased, shall
    desire to purchase a further Annuity on the life of
    the same person, the proof of age furnished by him
    on the occasion of his first proposal shall be deemed
    sufficient in the case of any proposed purchase of a
    further Annuity on such life under the provisions of
    "The Government Annuities Act, 1869," without the
    production of any further proof of age.

Payments to be made at office where the Contract is made,
until notice.

22. The contract shall be delivered to the purchaser
    on payment by him of the purchase money or first
    instalment of the purchase money due under the
    contract, at such one of the offices appointed for the
    purpose as the purchaser shall select; and the pur-
    chaser shall continue to pay any instalments due
    under the contract at the said office until he shall
    give notice to the Government Annuities Commis-
    sioner, on a form to be obtained at any Money
    Order Office, of his desire to pay them at some other
    office than that which he first selected.

Delivery of contract sufficient receipt in cases of single
payment.

23. If the purchaser be required by the contract
    to purchase the Annuity by a single payment, the
    delivery of the contract to him on payment of the
    said purchase money shall be a sufficient receipt for
    the purchase money.

Payments to be made by Contractors within fixed periods.

24. The instalments due annually under contracts
    for the grant of Annuities must in every case be
    paid by the purchasers within three weeks after the
    day appointed by the contracts for such payments.

THE NEW ZEALAND GAZETTE.

The instalments due more frequently than once in
each year under contracts for the insurance of lives
must in every case be paid by the Contractors within
two weeks after such payment shall fall due.

When purchase money is returnable, warrant for payment to
be issued.

25. If any person who shall have agreed to pur-
    chase a deferred Annuity by payments made annually,
    or more often than annually, on condition that in the
    event of default of payment or in the event of the
    death of the person on whose life the Annuity
    depends before the period at which the Annuity is to
    commence the purchase money paid shall be return-
    able, shall make default of payment, or if the person
    on whose life the Annuity is to depend shall die
    before the Annuity commences, then the person for
    whose benefit the Annuity was purchased or his
    representatives shall make application to the Go-
    vernment Annuities Commissioner, on a form to be
    obtained at any Money Order Office, for the return
    of so much of the purchase money as shall have been
    paid. And the said Commissioner, on being satisfied
    of the right of the applicant to receive back such
    purchase money, shall issue a warrant for the amount,
    which warrant shall be payable at such one of the
    offices appointed for the purpose as the applicant
    shall select.

But if it shall have been a condition of the pur-
chase that no part of the purchase money be in any
event returned, then, in case of default of payment,
or in case of the death of the person on whose life
the Annuity is to depend before the period at which
the Annuity commences, the contract shall be can-
celled and be at an end.

Annuities may be granted to Trustees in certain cases.

26. No such Annuity shall be granted otherwise
    than in the sole name of the person on whose life
    and for whose benefit the said Annuity is granted,
    except in the case of females, infants under the age
    of twenty-one years, idiots, persons of unsound mind
    or incapacitated by bodily or mental infirmity from
    taking care of themselves, of which proof shall be
    afforded at the time of making the contract to the
    satisfaction of the said Commissioner, in which
    cases it shall be lawful to grant such Annuities as are
    authorized upon the life of any such person to such
    person, and to any two or more persons not interested
    therein as trustees for such person; but in all such
    cases the name of the person on whose life and for
    whose benefit the Annuity is granted shall be inserted
    in the contract as joint proprietor of the said Annuity.

Transfers may be made by Trustees, to secure interest of party
beneficially interested.

27. When any Annuity for life, immediate or
    deferred, shall have been purchased under this Act in
    the names of more parties than one, the said Com-
    missioner may permit the party not beneficially
    interested therein, jointly with the party who is
    beneficially interested, whether the party be of the
    age of twenty-one years or not, to transfer the said
    Annuity or Annuities to other parties, of whom the
    party beneficially interested shall always be one,
    under such regulations as the Governor in Council
    shall prescribe in that respect, for the purpose of
    securing that no assignment shall thereby be made
    of the interest of the said party to any other person
    whatsoever: Provided always that where the party
    beneficially interested is incapable, from any of the
    causes set forth in section twenty-seven of these
    Regulations, from joining in such transfer, the said
    Commissioner may permit such transfer notwith-
    standing, under such regulations as shall appear to
    him to be necessary to secure the interest of the
    party beneficially interested in such Annuity.