Provident Societies Act 1850 No 11a (NSW)

No. XI.

ri!OVI!)F,NTS?OClETIEy. An Act for the encouragement of persons desirous of providing for their support in old age and for the protection under certain restrictions of their Annuities and Subscriptions for Deferred Annuities. [10th September, 1850.]

I’j'camblc.	W f IIE IIEA S it is desival)le for the encouragement of provident V V habits and to obviate if possiide the necessity of introducing
a Poor Law into this Colony th a t the savings of all persons specially set apart for tlieir support in old age should he secured to them and protected by law Be it therefore enacted by Ilis Excellency the Governor of New South "Wales with the advice and consent of the

Present arid mfeiTcci Jjojrisiativc CoLincil tlieroof That all Annuities as hereinafter provided Anni i iTH'a^'voi i iTi t J­

i l l II u 11 iL-3 UAi iiiiii. 1 * 1 1 n i * v i I* i i 1 n 11

from seizure or levy whicli sliall DC lu thc coui’sc ot paymciit to aged persons as well as all Subscriptions for Deferred Annuities to persons Avhen they become aged shall not be liable to be seized or levied upon by the process of anv Court or Courts whatever in thc Colonv of New South Wales. V *.

on certain conditions.

2. Provided always and 1)0 it ciiacted That such Annuity sliall

not exceed the sum of one hundred and four pounds per annum or

two pounds i)cr week exclusive of any bonus or prolit tha t may be

divided

1850. 14'̂ YIO. No. 12. 2107

GecloH(j Jurisdiction of the Peace.

divided amongst tlie niora’jers of thc Society and th a t such A nnuity shall not commence before such person shall have attained the lifticth yciU‘ of his or her aye and shall luivc; been j)urchased by weekly m onthly (quarterly half-yearly or annual subscriptions and the })aymenls not made at any time more than two years in advance and furtlun- when an A nnuity has already commenced and is in the course of ])aymcnt thc A nnuitant in order to enjoy the protection provided by this Act must have been a subscriber for his Deferred A nnuity at least six years previously to the commencement of such Annuity.

f>. And be it enacted That no Society or Company or tlie Oompany «;i-'i<m-

shall be entitled to possess the })rivileyes herein contained unless such members thereof a t present formed or th a t may hereafter be fornuxl]j“'jjj.'A pursuance of the provisions of an Act passed in the seventh year of tl'.e rt'iyii of H er present IMajesty intituled A ct to rcfjnJde 'Frlendl;/ Societies in the Colmiij ( f New South JFales” and be subject to all and sinyular thc provisions thereof.

■t. And bo it cnacia'd That married Avoincn shall be entitled to

, , , , . . . i - • A j ! • 1 to married women.

all the privileyes ot this Act as it they were icmes sole.

5. Ami be it enacted That this Act may be altered or aimmded Actmayiieamemied.

by aiiy Act to be passed in thc itrc.scnt Session of the Legislative

Council.