Public Accounts and Charges Act, 1891

Tables for conversion of perpetual into terminable annuities.

50 & 51 Vict. c. 16.

46 & 47 Vict. c. 54.

3. Whereas the terminable annuities created under section four of the National Debt and Local Loans Act, 1887, have to be periodically adjusted in accordance with tables framed under section four of the National Debt Act, 1883, and those tables were framed on the basis of perpetual annuities, bearing interest at the rate of three per cent. per annum, and it is expedient that they be modified;

The National Debt Commissioners shall cause a new table on the basis of the rate of interest now payable on Two and three-quarters per cent. Consolidated Stock to be framed and certified under the hands of the Comptroller-General or Assistant Comptroller, and of the Actuary of the National Debt Office, and the table so framed shall be substituted for the table framed and certified in pursuance of section four of the National Debt Act, 1883.