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Calculation and payment of duty on legacies by way of annuity payable out of other legacies.
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10. And . . . the value of any legacy given by way of annuity for any life or lives, or for years determinable on any life or lives, or for years or other period of time, and charged on and made payable out of any other legacy or legacies, shall be calculated, and the duty shall be charged thereon, in the same manner as herein-before directed with respect to other annuities; and the duty on the legacy charged with such annuity, if any duty shall be payable for such legacy, shall be calculated on the value of such legacy, after deducting the value of such annuity; and the duty for such annuity shall be paid by the person or persons entitled to the legacy or legacies charged with such annuity, by four equal payments, in the same manner as the same would be payable according to the provisions herein-before contained, if such annuity had been a direct gift to the annuitant, and subject to the like proviso in case such annuity shall determine before four years payment shall become due; and the payment which shall be made for such duty shall be retained by the person or persons paying the same out of the first four years payments of such annuity, if so many shall become due, or out of so many of such payments as shall become due, by equal portions.
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