The Short Title of this Act is “The Old-age Pensions Act, 1905”; and it shall form part of and be read together with “The Old-age Pensions Act, 1898” (hereinafter referred to as “the principal Act”).

The amount of the pension under the principal Act shall be twenty-six pounds per year, diminished by—

This section is in substitution for section nine of the principal Act, which section is hereby accordingly repealed.

Section eight of the principal Act is hereby amended as follows:—

In computing the amount of the pension of husband or wife, the net capital value of all the accumulated property of each shall be deemed to be half the total net capital value of all the accumulated property of both.

Subsection one of section three of “The Old-age Pensions Act Amendment Act, 1900,” is hereby repealed.

Notwithstanding anything in section ten of the principal Act, it is hereby declared that where any part of the accumulated property of any claimant consists of property of any tenure on which he permanently resides and which produces no actual income, there shall be deducted from the capital value of his accumulated property, in addition to the charges or incumbrances (if any) on such accumulated property, the sum of one hundred and fifty pounds, and the residue then remaining shall be deemed to be the net capital value of all his accumulated property.

Section three of “The Old-age Pensions Act Amendment Act, 1900,” is hereby amended by repealing the words “seventy-eight” in paragraph two, and substituting in lieu thereof the word “ninety.”

The increased rate of pension provided by this Act shall have effect and be payable on and after the first day of September, one thousand nine hundred and five, and shall apply to pensions then current as well as to pensions first payable after that date.

Section eighteen of the principal Act is hereby amended by adding, after the words “in open Court,” the words “or, in the discretion of the Stipendiary Magistrate, in Chambers.”