C2C1 PART II REORGANISATION OF THE INDUSTRY
Pt. II (ss. 65-95) extended (15.12.2001) by S.I. 2001/4011, art. 12(1)(a)
Miscellaneous
91 Electricity Stock.
1
On the transfer date all the rights and liabilities —
a
to which the Electricity Council was entitled or subject immediately before that date under the terms of issue of British Electricity Stock; or
b
to which the North of Scotland Hydro-Electric Board was entitled or subject immediately before that date under the terms of issue of North of Scotland Electricity Stock,
shall become by virtue of this section rights and liabilities of the Treasury.
F12
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3
The Bank of England shall deal with—
a
money paid to them under subsection (2) above; and
b
money already in their hands which represents such unclaimed interest or redemption money as is mentioned in that subsection,
as money entrusted to them for payment to holders of the Stock concerned and section 5 of the M1Miscellaneous Financial Provisions Act 1955 (which relates to unclaimed dividends etc. on Government Stock) shall apply accordingly.
4
In this section—
“British Electricity Stock” means any stock created and issued under section 16(1) of the M2Electricity Act 1957 or under section 40 of the M3Electricity Act 1947;
“North of Scotland Electricity Stock” means any stock created and issued under section 13 of the M4Hydro-Electric Development (Scotland) Act 1943.
Pt. II: power to repeal conferred (E.W.S.) (8.5.2003) by Electricity (Miscellaneous Provisions) Act 2003 (c. 9), s. 2(2)