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18 1939



Death Duties.

Exemption of certain annuities from estate duty.

19. —(1) Sub-section (1) of section 15 of the Finance Act, 1894 (which relates to the exemption of certain annuities from estate duty) shall have effect in the case of an annuity purchased or provided by a person dying on or after the 10th day of May, 1939, as if the words “fifty-two pounds” were substituted in the said sub-section for the words “twenty-five pounds”.

(2) An annuity exceeding fifty-two pounds and less than one hundred and four pounds which would, but for the fact that it exceeds fifty-two pounds, be exempted from estate duty by virtue of the provisions of sub-section (1) of section 15 of the Finance Act, 1894, as amended by the foregoing sub-section of this section, shall be chargeable with estate duty as if it were an annuity of twice the amount by which it exceeds fifty-two pounds and as if the said provisions were not in force.