Explanatory note

Section 33 of the Finance Act 1962 terminated the power to grant annuities under the Government. Annuities Act 1929 except in special cases, but the government annuity tables, which had been used primarily to calculate these annuities, and were also used to determine certain other payments, were kept in force, and the Treasury was given power to add and substitute new tables.

The tables set out in Schedule 1 to the Government Annuity Tables Order 1973, which apply when the average price of £100 2½ per cent. Consolidated Stock is less than £29 ⅜ but not less than £19 ¼, have been found to give rise to certain anomalies and, accordingly, this Order substitutes for them the tables set out in Schedule 1 to this Order.