National Debt Act 1889

1889 CHAPTER 6 52 and 53 Vict

An Act to amend the Law relating to the National Debt.

[31st May 1889]

1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1 U.K.

Textual Amendments

F1 S. 1 repealed by Finance Act 1899 (c. 9), s. 16

2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2 U.K.

Textual Amendments

F2 S. 2 repealed by Revenue Act 1898 (c. 46), s. 19

3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3 U.K.

Textual Amendments

F3 Ss. 3, 4(3)–(5) repealed by Statute Law Revision Act 1950 (c. 6)

4 Amendment of law as to payment of dividends on stock. U.K.

[F4 ( 1 ) The Treasury may from time to time make regulations for the payment of dividends on stock either by sending warrants through the post or by payment through a banker.]

(2) Where a dividend warrant is sent by post in accordance with any such regulations, the posting of the letter containing the warrant, addressed in the manner prescribed by the regulations, shall, as respects the liability of the Bank[F5 , the Registrar of Government Stock or any previous Registrar of Government Stock], be equivalent to the delivery of the warrant to the stockholder.

(3)–(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6

(6) This section shall apply to all stock of any company or corporation, funds or annuities, transferable

[F7 (a) in the registers kept by the Registrar of Government Stock in accordance with regulations under section 47 of the Finance Act 1942 (see regulation 7 of the Government Stock Regulations 2004), or

(b) in manner provided by those regulations].

(7) This section shall be construed and have effect as part of the M1 National Debt Act 1870.

Textual Amendments

F4 S. 4(1) substituted (1.7.2004) by The Government Stock (Consequential and Transitional Provision) (No. 2) Order 2004 (S.I. 2004/1662), art. 1, Sch. paras. 1, 5(2) (with art. 3)

F5 Words in s. 4(2) inserted (1.7.2004) by The Government Stock (Consequential and Transitional Provision) (No. 2) Order 2004 (S.I. 2004/1662), art. 1, Sch. paras. 1, 5(3) (with art. 3)

F6 Ss. 3, 4(3)–(5) repealed by Statute Law Revision Act 1950 (c. 6)

F7 S. 4(6)(a)(b) substituted for words (1.7.2004) by The Government Stock (Consequential and Transitional Provision) (No. 2) Order 2004 (S.I. 2004/1662), art. 1, Sch. paras. 1, 5(4) (with art. 3)

Modifications etc. (not altering text)

C1 S.4(1)(2) extended retrospectively by East India Loans Act 1937 (c. 14), s. 2(4)

Marginal Citations

M1 1870 c. 71.

5 Amendment of law as to signature of Exchequer and Treasury bills. U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8 Treasury bills shall bear the name of one of the secretaries for the time being to the Treasury, and that name may be impressed or affixed by machinery or otherwise in such manner as the Treasury from time to time direct by regulations to be laid before both Houses of Parliament.

Textual Amendments

F8 Words repealed by Statute Law Revision Act 1966 (c. 5)

Modifications etc. (not altering text)

C2 S. 5 applied (with modifications) (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), reg. 1(1), Sch. 2 para. 1

6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9 U.K.

Textual Amendments

F9 S. 6 and Schedule repealed by Statute Law Revision Act 1908 (c. 49)

7 Short title. U.K.

This Act may be cited as the National Debt Act 1889.

F10 F10 SCHEDULE U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F10 S. 6 and Schedule repealed by Statute Law Revision Act 1908 (c. 49)