LegalizeThe Savings Bank Annuities (Tables) Order 1955
Signed
Martin Redmayne — Gerald Wills — Two of the Lords Commissioners of Her Majesty's Treasury — Dated this seventh day of February, nineteen hundred and fifty-five
Explanatory note
EXPLANATORY NOTE
Under the Government Annuities Act, 1929 , Part II, the National Debt Commissioners may grant Immediate Life Annuities which are sold through the Post Office Savings Bank and Trustee Savings Banks and are known as Savings Bank annuities. The Act empowers the Treasury to approve tables for calculating the amounts of these annuities, framed in such a manner that the Exchequer suffers no loss.
This Order approves new tables designed to achieve this object; these are additional to, and not in substitution for, the tables in the Second Schedule to the Savings Bank Annuities (Tables) Order, 1954, (S.I. 1954/1578).
The First Schedule to the Order contains the rules in accordance with which the tables have been constructed; the Second Schedule contains the tables. Under the Act the tables were required to lie before Parliament for thirty days before being brought into operation; no address having been presented to Her Majesty praying that the tables be cancelled, they were, at the conclusion of the thirty days, published in the London Gazette, and came into operation on the day of publication.
Footnotes
[^f00001]: (1954 I, p. 935).
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