ration, there shall remain any part of the declared surplus still unappropriated, such remainder shall lapse and be added to the fixed unappropriated balance of the fund. 37th. Civil servants who may not have completed the full period of twenty-two years' residence in India, and twenty-five years of service, but who may be compelled to retire from the service by sickness, duly certified as below provided, shall be entitled to receive from out of the declared value of the unclaimed annuities of any given year before the appropriation of the two-thirds and onethird are made under the above rule, as follows: If they have not completed ten years of residence, a donation of Or.... .... Sa. Rs. 5,000 £500 £250 Sa.Rs. 2,500 If they have completed ten years of residence, but not more than fifteen, an annuity of...... Or per annum, on payment, including the amount of their £500 Sa.Rs. 5,000 If they have completed fifteen years, an annuity of .... on the same terms. To entitle a junior to the above benefits, it will be necessary for him before leaving India to furnish to the managers of the fund a certificate from his medical attendant, countersigned by a member of the medical board in Calcutta, certifying that he is, from some permanent cause or complaint, incapable of rendering further service in the climate of India; and this certificate must, in each instance of retirement, be confirmed in England by the examining physician of the Honourable Court of Directors, after the servant so retiring has resided at least one year in England. 39th. In modification of the third rule of the regulations of the fund, it is provided, that it shall be competent to any servant, duly qualified by residence and service, to receive the annuity, whether granted to him at half or at a quarter value, either in India or in England, subject only to the condition of previous resignation of the service, and of the acceptance of such resignation by the Government or by the Court of Directors. 40th. In modification of the rules adopted by the service on the 7th March 1834, it is hereby provided, in conformity with the instructions of the Honourable Court of Directors, that annuitants desirous to have their annuities paid to the date of decease, or to have them paid quarterly, will be entitled to these advantages upon payment, in addition to the half or quarter value of the annuity, as the case may be, of the full value stated for the same in the Table annexed to the said rules; but uo annuitant shall be permitted to take the quarterly payment alone without at the same time taking the benefit of the rule for obtaining payment to the date of decease. REVISED RULES Passed at the Annual General Meeting of Subscribers, on the 1st January, 1842, and approved by the Honourable Court of Directors, under date 31st August, 1842. RULE 35.-On the 30th of April, 1842, the managers shall compute the excess of balance of the unappropriated funds of the Institution above the balance estimated for the same period in the prospective calculation upon which the Fund was formed. Onehalf of the amount of such excess shall be considered to be a capital available for the purposes of the Fund, namely, for the improvement of the rate at which the annuities accruing under Rules 8 and 11, on the 1st of May, 1842, are to be granted, to the extent of the income derivable, at the rate of 6 per cent., from the said half excess of balance. In like mauner, on the 30th of April of every succeeding year, the managers shall compute the excess of actual balance over the estimated prospective balance at the same date, and shall appropriate the income arising therefrom to the improvement of the purchase rate of the nine annuities accruing on the 1st of the following May. Provided, however, that in no instance shall any annuity be granted under this rule at a rate less than a quarter of the value thereof. And in case of the annual sum to be distributed amongst the nine yearly accruing annuities, in the manner provided in the following rule, being at any time in excess of the proportions required to make up, with the balance of the subscription accounts of the retirers thereon, the half value of each of the said nine annuities, such excess shall be reserved and be made available in the succeeding year, in addition to the income accruing from the half of the excess balance of the year, towards the reduction of the rate of premium, at half value, payable for the said annuities, under the provisions and limitations above specified. And it is further provided, that in the event of any of the nine annuities of any year remaining untaken on the 1st of May of such year, the proportionate share of the annual sum distributed amongst the nine annuities of that date, which shall have been set to such untaken annuity, shall remain reserved for the benefit of the qualified subscriber, who may at any subsequent date claim and retire on such untaken annuity. RULE 36.-FIRST. After the above computation shall have been made the managers shall make the distribution of the annual sum which may be found available for the improvement of the rate at which each of the nine yearly annuities may be granted, in the manner following. The aggregate sum available on the 1st of May of every year shall be divided into equal shares for apportionment equally amongst the nine annuities accruing on that date, according to the statement above cited. The amount of fine which a retiring member will have to pay shall be such an amount as, with the balance of his subscription account and the sum apportioned to the annuity reserved for him, as above provided, on the 1st of May of such year, will make up the half of the value of the annuity, according to his age. And it is provided, that in the event of the balance of the retirer's account alone amounting to a sum equal to the half value of his annuity, the share or sum apportioned to the annuity reserved for him shall be taken and distributed equally amongst the other annuities of the same year, in further diminution of the fines at half value, which may be required from the retirers on these. In like manner, if the balance of any retirer's account, as aforesaid, together with the sum or sums which may have been apportioned to the annuity reserved for him, amount to a sum in excess of the half value of his annuity, such excess shall he taken and divided amongst the other annuitants of the same year whose balances, with the sums apportioned to them as above, may fall short of the half value of annuity.And it is further provided, that in the event of any overplus remaining out of the sum found available in any year under Rule 35, after due distribution amongst the nine annuities of such year, as above provided, to the extent of making up, with the balances, the half value of each of the annuities, such remaining overplus shall be held available for distribution in the next succeeding year under the general terms of this Rule. And Rule 37, above entered, will be read in its first sentence thus: "Civil servants who may not have completed the full period of twenty-two years' residence in India and twenty-five years of service, but who may be compelled to retire from the service by sickness, duly certified as below; provided, shall be entitled to remain from out of the portions of the excess balance available for the purposes of the Fund, under the above Rules (now 36 and 37), as follows," &c. &c. At a Special General Meeting held 28th May, 1842, the following clause was proposed to be added to Rule 15 as a part thereof, to carry out the Honourable Court's letter of 1st February, 1842, and the same was carried and adopted by the subscribers, at their meeting of 30th July, 1842. "In substitution of the rule requiring the declaration upon honour, it is hereby further provided, that if any subscriber to whom an annuity shall have been reserved, under his application and declaration to resign the service, as above, shall subsequently withdraw or retract his application or declaration; or if he shall continue in the service beyond the time (viz. 1st July) limited by the foregoing rule, he shall, unless for special reasons, be exempted by the managers, subject to an appeal to the service by the individual in question, or by any member of the Fund, forfeit the sum of Co.'s Rupees (10,000) ten thousand, to be at once deducted from his subscription account with the Fund. The sum or sums that may be so forfeited shall be carried to the credit of the unap propriated Funds of the Institution, and be held available for the general purposes of the Fund." The periods at which the quarterly payments will be made are the first days of February, May, August, and November, in each year. TABLE I. Referred to in Rule 29th, shewing the value of annuities of 1 rupee and 10,000 rupees on a life from 30 to 76, interest being six per cent. |
