109Power of the Treasury to raise money under the auspices of the Director of Savings
The power conferred by section 12 of the [1968 c. 13.] National Loans Act 1968 on the Treasury to raise money shall extend to raising money under the auspices of the Director of Savings and, in particular, by the issue, under his auspices, of national savings certificates; and, accordingly, as from the appointed day, references in sections 191(1) (interest on United Kingdom savings certificates to be exempt from tax) and 193(4) (interest on certain Ulster, colonial and other savings certificates issued to local residents to be exempt from tax) of the [1952 c. 10.] Income Tax Act 1952 to savings certificates issued by the Treasury through the Post Office shall be construed as including references to savings certificates issued by the Treasury under the auspices of the Director of Savings.