Apportionment.
CHAPTER 18.
APPORTIONMENT.
[CAP. 18
For the better apportionment of rents and other periodical payments.
Originally
[10th March, 1886.]
2 of 1886. Fraser 1 of 1886.
This Ordinance may be cited as the Apportionment Short title.
Ordinance.
2. In this Ordinance—
"annuities" include salaries and pensions; "dividends" include (besides dividends strictly so called) all payments made by the name of dividend, bonus, or otherwise out of the revenue of trading or other public companies, divisible between all or any of the members of such respective companies, whether such payments are usually made or declared at any fixed times or otherwise; and all such divisible revenue shall, for the purposes of this Ordinance, be deemed to have accrued by equal daily increment during and within the period for or in respect of which the payment of the same revenue is declared or expressed to be made, but the said word dividends shall not include payments in the nature of a return or reimbursement of capital;
"rents" include all periodical payments or renderings in lieu of or in the nature of rent.
33 & 34 Vict. c. 35, s. 1.
Interpretation. 33 & 34 Vict. c. 35. s. 5.
Rents, etc., to accrue from day to day.
3. All rents, annuities, dividends, and other periodical payments in the nature of income (whether reserved or made payable under an instrument in writing or otherwise) shall, like interest on money lent, be considered as accruing from day to day, and shall be apportionable in respect of time accordingly.
33 & 34 Vict, c. 35, s. 2.
Apportioned part of rent, etc., to be payable when next due entire portion.
4. The apportioned part of any such rent, annuity, dividend, or other payment shall be payable or recoverable, in the case of a continuing rent, annuity, or other such payment, when the entire portion of which such apportioned part forms part becomes due and payable, and not before; and, in the case of a rent, annuity, or other such payment determined by re-entry, death, or otherwise, when the next entire portion of the same would have been payable if the same had not so determined, and not before.
33 & 34 Vict. c. 35, s. 3.
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