AI-assisted research summary: The National Debt Commissioners may make regulations, with Treasury concurrence, about how certain annuity, pension commutation, and friendly society trustee draft payments are made and how valid discharge is given.
Revenue Act 1903 An Act to make certain amendments of the Law relating to Customs and Inland Revenue, and of the Law relating to the powers and duties of the National Debt Commissioners. The National Debt Commissioners, with the concurrence of the Treasury, may make regulations as to the mode in which any sum payable by those Commissioners in respect of any life or other terminable annuity, or the commutation of a pension, or the draft of trustees . . . of a friendly society, . . . may be paid, and the manner in which a valid discharge is to be given to those Commissioners for any such payment and for crediting instead of paying the interest due in respect of any sums so paid; and payments made and discharges given in accordance with those regulations shall be valid, notwithstanding anything in any other Act. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . This Act . . . may be cited as the Revenue Act 1903. The text of the whole Act was taken from S.I.F 99:3 (Public Finance and Economic Controls : National Debt)and for ss. 7, 17(2) from S.I.F 114(Stamp Duty). S. 1 repealed by Finance Act 1924 (c. 21), Sch. 3 Ss. 2–4 repealed by Customs and Excise Act 1952 (c. 44), Sch. 12 Pt. I S. 5 repealed by Finance Act 1973 (c. 51), Sch. 22 Pt. V S. 6 repealed by Finance Act 1905 (c. 4), Sch. S. 7 repealed (1.10.1999) by 1999 c. 16, s. 139, Sch. 20 Pt. V(2), Notes 1, 2 S. 8 repealed by Finance Act 1959 (c. 58), Sch. 8 Pt. II S. 9 repealed by Statute Law Revision Act 1927 (c. 42) S. 10 repealed by Income Tax Act 1918 (c. 40), Sch. 7 S. 11 repealed by Finance Act 1924 (c. 21), Sch. 3 S. 12 repealed by Statute Law Revision Act 1950 (c. 6) S. 13 repealed by Income Tax Act 1918 (c. 40), Sch. 7 S. 14 repealed by Finance Act 1946 (c. 64), Sch. 12 Pt. III S. 15 repealed by Government Annuities Act 1929 (c. 29), s. 36, Sch. 2 Pt. I S. 16 repealed (a) so far as it relates to annuities under Government Annuities Act 1829 (c. 24) and to savings bank annuities, by Government Annuities Act 1929 (c. 29), s. 36, Sch. 2; (b) so far as it relates to drafts of a friendly society, by Industrial Assurance and Friendly Societies Act 1948 (c. 39), Sch. 6 Words repealed by Trustee Savings Banks Act 1954 (c. 63), Sch. 3 Words repealed by National Loans Act 1968 (c. 13), Sch. 6 Pt. II Ss. 16(2), 17(1), Sch. repealed by Statute Law Revision Act 1927 (c. 42) Words repealed by Statute Law Revision Act 1927 (c. 42)