Assignment or Allocation of Prize Money - 1866.
Circular, No. 11.- P.
Admiralty, 12th April 1866.
My Lords Commissioners of the Admiralty are pleased to direct that the following Regulations recently made or renewed by the Acts of Parliament and Orders in Council respectively quoted, be promulgated for the information and guidance of all Officers, Naval and Civil, and others to whom the same may relate.
By Command of their Lordships,
Any Assignment made by a Warrant Officer of any Prize Money shall be void unless it truly expresses the consideration money actually paid by the person in whose favour it is made to the person making it, and upon any such Assignment there shall be paid so much only as appears to have been actually paid as consideration for the same, with interest thereon at 5 per cent. per annum.
Only Commissioned and Warrant Officers, and Assistant Engineers of the 2nd Class amongst Subordinate Officers, can make valid Assignments of Prize Money.
Any share of Prize Money of any other person can only be paid to himself or the person named in an order drawn by him as hereinafter prescribed.
(The foregoing restriction does not, however, apply to any Prize Money remaining unpaid on the promotion of a Subordinate Officer to the rank of commissioned Officer, or of a Seaman to the rank of Warrant Officer.)
Every Prize Order:-
Must be drawn on a printed form issued by the Accountant General of the Navy ;
And in favour of some one or other of the following persons by name :-
The Drawer's Wife;
The Drawer's Father or Mother;
The Drawer's Son or Daughter;
The Drawer's Brother or Sister ;
any of whom mast be so described in the Order.
Unclaimed and forfeited shares of Prize Money :-
If the share of any person is not duly claimed within six years after it is payable to him, it shall be deemed unclaimed, and shalt be dealt with accordingly. Notwithstanding that any such share has been forfeited or is unclaimed, the Admiralty, if they sea good cause, pay the same out of the Naval Prize Cash Balance.
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