|
|
Retiring pension to Vice-Chancellor.
|
22. Her Majesty, by letters patent under the Great Seal of the United Kingdom, may grant unto any person executing the office of Vice-Chancellor in pursuance of this Act an annuity not exceeding two thousand six hundred and sixty-six pounds thirteen shillings and fourpence, to commence immediately after the period when the person to whom such annuity shall be granted shall resign the said office of Vice Chancellor, and to continue from thenceforth during the natural life of the person to whom the same shall be granted; and such annuity shall be issued and payable out of and charged upon the Consolidated Fund of the United Kingdom of Great Britain and Ireland; and such annuity shall be paid quarterly, free from all taxes and deductions whatsoever, except income tax . . . : Provided, that it shall be lawful for Her Majesty, in and by such letters patent, to limit the duration of payment of such annuity or any part thereof to such periods of time during the natural life of such person in which he shall not exercise any office of profit under Her Majesty, so that such annuity, together with the salary and profits of such other office, shall not exceed in the whole the said sum of two thousand six hundred and sixty-six pounds thirteen shillings and fourpence: . . .
|
