the term of service necessary to qualify him for the acceptance of an annuity.

15th. The resignation of the Honourable Company's services is an essential condition to entitle an individual to an annuity from the institution, and annuitants will not be permitted by the court to return to the service: it is therefore provided, that should any member fail, on or before the first of July of the year with which an annuity accepted by him may commence, to comply with the said condition, he shall be considered to have forfeited his right to an annuity from the institution for that year. It is likewise provided, that when a member, accepting an annuity, shall resign the service before the first day of July, but after the first day of the year with which the said anuuity is made to commence, he shall, in such case, at the close of that year, only draw the annuity from the date of his resignation, a sum proportionate to the time intervening between the first day of the year and that date being deducted for the benefit of the institution.

16th. The fund is open for the subscriptions of all covenanted civil servants upon the Bengal establishment, including such as may be in England, and who have not either finally resigned the service, or protracted their absence from India beyond the prescribed term of five years; each civil servant now residing in India shall be specially invited to join the institution, as shall those subsequently arriving, whether they be returning to the service, or newly appointed to the same; and the following shall be excluded from ever becoming members of the institution, viz. those resid. ing in India, who may fail to signify in writing their consent to join the institution on or before the first of May 1826, next; aud those returning to, or for the first time arriving in the country, subsequent to the present date, who may commit a similar default within six months from the date of their return, or arrival in the country, respectively; provided, however, that no person, not in India, nor on his passage thither upon the first of May 1825, shall be entitled, on subsequently returning to the country from England, to receive an annuity under the rules of this institution, except after residence in the country for a period of five years from the date of such subsequent arrival.

17th. The affairs of the institution shall be managed by a com mittee of nine, of whom four shall be ex-officio, the chief secretary to government, the accountant-general, the sub treasurer, and the civil auditor. The other five shall be subscribers, and elected at a general meeting. The members of the committee shall be also the trustees for the funds of the institution.

18th. The sub-treasurer of the government shall, with the permission of the Governor General in Council, be requested to act as treasurer to the institution, and the funds, as well those set apart for the payment of annuities as those arising from the accumulation of capital, shall be deposited in the public treasury, subject to the direction and control of the trustees and managers of the fund.

19th. For the management in England of such affairs as the members cannot personally conduct, an agent or agents shall be appointed by the managers and trustees in India, if such shall still be the wish of the service.

20th. The committee of managers, or the majority of those present at a meeting of five or more, or if less than five be present, any three members of the committee, who may concur in opinion, shall be competent to decide in the first instance upon all matters relative to the receipts and disbursements of the fund, as well as generally upon all subjects connected with the manage. ment of the fund, and the due execution of the rules established for it, which, by such rules, may not have been expressly reserved for determination by the general meeting of the subscribers to the fund.

21st. But the decision of the committee of managers, in all cases, shall be liable to revision and control by the resolution of the subscribers duly passed at a regular general meeting.

22d. The committee of managers, who may be appointed in the first instance, shall be authorized to appoint a secretary and accountant to the fund, and to fix such allowance for him, payable from the fund, as they may consider adequate to his services. The officers so appointed shall act under the direction of the committee of managers, and shall also attend the general meetings of the subscribers, the proceedings of which, and of the committee of managers, and generally all papers appertaining to this institution, which may not be intrusted to the treasurer in India, or to the agents in England, shall be kept under the charge of the secretary and accountant to the fund, and shall, by application to him, or the committee of managers, be open to the inspection of any of the subscribers to the fund.

23d. All future appointments to the office of secretary and accountant to the fund, as well as the appointment of any other person whom the managers may find it necessary to employ for the due execution of the trust committed to them, shall, in like manner, be made, and their allowances fixed by the committee of managers, subject, as in all other cases, to the control of the general meetings of the subscribers.

24th. In the event of any of the five managers who may be elected annually being subsequently removed from the presidency, without any intention of returning to it during the year of their election, it shall be communicated to the subscribers at the next general meeting; and in such instances, as well as in all instances of vacancy in the situation of manager, by death or otherwise, a new election, if it appears necessary, shall take place for the unexpired part of the current year.

25th. A general meeting of the subscribers shall be held at the Town Hall in Calcutta, on the first Monday of the second month of every year (or as soon afterwards as the accounts can be made up and prepared for inspection), to receive and audit the accounts of the preceding year, and to decide on any questions which may arise

or be referred. The committee of managers, or any nine members of the institution, may also convene a special general meeting at the presidency, by public notice in the Government Gazette, if at any time there shall be found occasion for it, provided that the days fixed for holding such special meetings, and the object of them, be advertised at least six weeks before the same are held, for the general information of subscribers.

26th. All questions proposed at the general meeting, whether annual or special, shall be determined by a majority of threefourths of the members who may either be present at such general meetings, or vote thereat by proxy; but the concurrent voices of nine members, at least, shall be requisite to determine upon any question whatever; and upon all general questions involving any increase or diminution of the rate of contributions now fixed, or any essential addition to, or alteration in, the original rules and principles of the institution, which are now established, all subscribers in India who may not be able to attend the meeting in persou, shall be allowed to deliver their sentiments and votes by a written communication, to be signed by them, and addressed to the chairman of the meeting; provided always, that no decision upon such question shall be valid, or have any effect, until sanctioned and approved by the Court of Directors of the East-India Company, to whom all parties, considering themselves aggrieved by such decision, shall have a right of appeal, and the decision of the Court of Directors shall, in all cases, be final.

27th. In discharge of each annuity of 10,000 rupees granted by the fund, the sum of £1,000 sterling shall be paid to the annuitant through the Company's treasury in London, at the close of the year in which the annuity may commence, the managers of the fund undertaking, at that period, to pay over to the Government of Bengal the sum of 10,000 rupees for each annuity so payable, under the principles upon which the Company's contribution to the fund is to be regulated.

28th. The right of an annuitant to receive the annuity for any particular year shall depend on his having survived that year.—(See modified Rules 33, 34, 40.)

29th. The actual value of an annuity on the life of any subscriber shall be determined by the table annexed hereto. The rates exhibited by this table shall be revised and altered by a decision of a general meeting, should experience and the fluctuation of interest suggest the necessity of such an arrangement; provided always, that auy alteration therein shall not take effect until it has been sauctioned and confirmed by the Court of Directors of the East-India Company, whose decision shall be final.

30th. To determine the accumulated value of the contributions of any subscriber, the accountant shall keep separate accounts for each member, and these accounts shall be annually made up with the rate of interest allowed by the Company.

31st. At the close of every third year the managers shall, according to the next table, calculate the actual values of the pend

ing auuuities, and shall then compare the total of their values with the assets belonging to the appropriated funds of the institution; should those assets exceed in value the said total, the difference shall be carried to the credit of the unappropriated funds of the society, and be available for the purposes of the institution; on the other hand, should the value of the said assets be less than the total aforesaid, the deficiency shall be supplied by a transfer from the latter fund to the former.

32d. An annuitaut, upon becoming such, shall be furnished with a formal certificate declaratory of his admission to the annuity, under the hands of not less than three of the managers of the fund. A duplicate of the certificates must be furnished to the Bengal Government and forwarded to the Court of Directors in London.

33d. In modification of the 28th Rule of the Institution it is hereby provided, that from and after the 30th April next ensuing, annuities will be granted to retiring members of the service, entitled to and claiming the same, payable to the date of decease, on their entering into a written engagement, binding themselves to pay, if so required by the Honourable the Court of Directors, a sum equal to half the value of the benefit derived under this condition. The computation of the said value will be made according to the annexed Table, unless otherwise ordered by the Honourable Court of Directors, to whose correction the calculations are subject.

For every annuity made payable to the date of decease under the above rule a sum equal to the discount value of the additional payment stipulated, as entered in the table annexed, or in any corrected table that may be substituted for the same if the Court of Directors shall direct such substitution, shall be transferred in the accounts of the Institution to the head of appropriated assets, in order to cover the additional charge to the Fund arising from such payment.-(See Table II.)

34th. In further modification of the 28th Rule above referred to, it is hereby provided, that from and after the 30th April 1835, annuities will, at the option of retiring servants, be given, payable either as at present at the close of the year, or quarterly after each three months of the year. Provided, however, that for every an. nuity made payable quarterly, an additional sum equivalent to this advantage, computed according to the table annexed, shall be transferred to the head of appropriated Funds in the accounts of the Institution, in order to cover the additional charge to it from this alteration in the mode of payment. (See further modification in Rule 40.)

35th. On the 1st May 1836, the managers of the Institution shall declare and publish the number of unaccepted annuities remaining up to that date, and the value thereof, which value shall be computed by assuming for the unaccepted annuities of each year since the Annuity Fund Institution was established, a value calculated for the average age of the servants who retired in that year. Two-thirds of the aggregate amount of such valuation shall be declared to be a fund available to provide for three years from

that date, annuities at a quarter value to retiring civil servants duly qualified. The other third of the above valuation shall be forthwith carried to account as part of the fixed balance of the fund. In like mauner, on the 1st of May of every succeeding year, the managers shall declare and publish the number and value of the unaccepted annuities of the preceding year-that is to say, the number of the nine annuities at half value available annually for retiring servants which have not been claimed and taken within the year, and the same shall be valued according to the average of the ages of the servants who retired in the year upon such annuities; or if there be none of these taken in any year, then upon the assumption of the age of forty-five years, for the value of each annuity. Two-thirds of the aggregate value of such unaccepted annuities shall be declared and published, as above, to be the fund available to provide for three years thereafter annuities at a quarter value to retiring seniors, the remaining third being added to the fixed balance of the fund, as above provided.

36th. Civil servants duly qualified by service and residence, who may be willing to retire on annuities to be granted upon payment of an amount equal to one-quarter of the value thereof, are required to make application for the same within three months from the date of the above declaration being made and published by the managers of the fund. So far as the surplus available shall permit, annuities on the terms stated shall be given to the senior servants so applying, in the order of their seniority; and if the subscriptions of any servant, to whom such an annuity may be awarded, shall have exceeded in amount one-quarter of the value of the annuity, the excess shall be refunded to him out of the surplus declared. If the subscriptions be not equal in amount to one-quarter of the value of the annuity, the retiring servant shall make good the deficit before obtaining the certificate entitling him thereto. If he do so before the 1st May and shall have then retired from the service, his annuity will commence from that date. If he complete his payments and retire at any subsequent date of the same year, the value of the annuity will still be calculated as from 1st May, but the retiring servant will receive only the fractional portion of the annuity for the first year, calculated from the date of such payment and retirement, and his subscriptions after the 1st August shall not be credited in his account, but shall accrue to the fund, together with the unpaid portion of the annuity. If the applicants within three months, as above, do not by their annuities and by the refunds stated consume the entire deciared surplus, the remainder shall be available to furuish annuities to any qualified senior servant who may apply for the same at any time within three years from the date of the declaration, and such annuities shall be given to applicants for the same in the order of application until the entire declared surplus is appropriated. For every annuity granted, an equivalent sum to the value thereof, according to the tables of the fund, shall be written off from the declared surplus and credited to the appropriated funds of the Institution; and if, at the end of three years from the date of decla