Finance Act 1942

Section 47.

ELEVENTH SCHEDULE Government Stock.

PART I

Descriptions of Stock and Bonds.

• Two and a half per cent. Annuities.

• Two and three-quarters per cent. Annuities.

• Two and a half per cent. Consolidated Stock.

• Local Loans three per cent. Stock.

• Guaranteed Land Stock.

• Guaranteed two and three-quarters per cent. Stock.

• Guaranteed three per cent. Stock.

• Three and a half per cent. Conversion Loan.

• Five per cent. Conversion Loan, 1944-64.

• Three and a half per cent. War Loan.

• Four per cent. Consolidated Loan.

• Two and a half per cent. Funding Loan, 1956-61.

• Two and three-quarters per cent. Funding Loan, 1952-57.

• Three per cent. Funding Loan, 1959-69.

• Four per cent. Funding Loan, 1960-90.

• Two and a half per cent. Conversion Loan, 1944-49.

• Three per cent. Conversion Loan,

• Four per cent. Victory Bonds.

• Guaranteed four and a half per cent. Bonds.

• Three per cent. Redemption Stock, 1986-96.

• Two and a half per cent. National Defence Bonds, 1944-48.

• Three per cent. National Defence Loan, 1954-58.

• Stock and registered bonds issued, or deemed to be issued, under the National Loans Act, 1939 (other than National Defence Bonds and National Defence Loan of the descriptions aforesaid).

• Stock and registered bonds issued under section twenty-eight or twenty-nine of the Finance Act, 1935.

PART II

Consequential Amendments of Enactments relating to Government Stock.

Session and Chapter	Short Title	Amendment
6 & 7 Will. 4. c. 28	The Government Offices Security Act, 1836.	In section one, for the words " the said books" there shall be substituted the words " the books of the " Bank of England ".
33 & 34 Vict. c. 71	The National Debt Act, 1870.	In section thirty-one, for the words " in the books of the "Bank of England or of " Ireland " there shall be substituted the words " in " manner provided by regulations made under section forty-seven of the " Finance Act, 1942 " ; in section thirty-three, for the words from " in the " books of the Bank of " England" to "transferable " stock " there shall be substituted the words " in " the appropriate register " kept by the Bank of "England or Ireland in " accordance with regulations made under section "forty-seven of the " Finance Act, 1942, and " thereupon the stock shall " be entered in that " register "; and in section forty-one, for the words "as if it had continued "registered in the books " of that Bank as stock " transferable therein " there shall be substituted the words " as if it were " transferable in manner "provided by regulations " made under section forty-" seven of the Finance Act, " 1942 ".
50 & 51 Vict. c. 16	The National Debt and Local Loans Act, 1887.	In section eight, in subsection (5), for the words " those stocks " there shall be substituted the words " other stocks of three " per cent. perpetual " annuities ".
52 & 53 Vict. c. 6	The National Debt Act, 1889.	In section four, at the end of subsection (6) there shall be added the words " or in manner provided " by regulations made " under section forty-seven " of the Finance Act. 1942".
55 & 56 Vict. c. 39	The National Debt (Stockholders Relief) Act, 1892.	In section eight, after the word " Bank " there shall be inserted the words " or " in manner provided by " regulations made under " section forty-seven of the " Finance Act, 1942 ".
3 Edw. 7. c. 37	The Irish Land Act, 1903.	In section thirty-one, for the words " that Act", where they first occur, there shall be substituted the words " the National Debt Act, " 1870 ".
7 & 8 Geo. 5. c. 31	The Finance Act, 1917	In section thirty-seven, in subsection (4), for the words " that Act", where they first occur, there shall be substituted the words " the National Debt Act, " 1870 ".
8 & 9 Geo. 5. c. 15	The Finance Act, 1918	In section thirty-eight, in subsection (5), for the words " in the books of the " Bank under the National " Debt Act, 1870, or by deed " under section seventeen of "the Finance Act, 1911," there shall be substituted the words " in manner " provided by regulations " made under section " forty-seven of the Finance " Act, 1942 ".
11 & 12 Geo. 5. c. 32.	The Finance Act, 1921	In section fifty-one, for the words "in the books of the " Bank under the National " Debt Act, 1870, or by " deed under the Finance " Act, 1911," there shall be substituted the words " in " manner provided by " regulations made under " section forty-seven of the " Finance Act, 1942 "; and in the Third Schedule, in paragraph 1, for the words " inscribed or registered in " the books of the Bank " there shall be substituted the words " entered in a " register kept by the " Bank in accordance with "regulations made under " section forty-seven of the " Finance Act, 1942 ".
26 Geo. 5. & 1 Edw. 8. c. 43.	The Tithe Act, 1936	In section twenty-four, in subsection (7), for the words " that Act " there shall be substituted the words " the National " Debt Act, 1870".
2 & 3 Geo. 6. c. 117	The National Loans Act, 1939.	In the Second Schedule, for paragraph 1 there shall be substituted the following paragraph:— “1 Stock or registered bonds issued under this Act shall be subject to the provisions of the National Debt Act, 1870, so far as is consistent with the tenor of this Act”.

Consequential Amendment of Order in Council relating to Government Stock.

Year and No. of Order	Short Title	Amendment
Statutory Rules and Orders, 1923, No. 227.	The Bank of Ireland (Belfast Register) Order, 1923.	In Article one, in paragraph (1), for the words " Government stock inscribed or " registered in the books at " their office in Belfast " there shall be substituted the words " such stock as " aforesaid inscribed or " registered in the books at " their office at Belfast and " stock and registered " bonds entered in a register " kept at that office in " accordance with regulations made under section " forty-seven of the Finance " Act, 1942 " ; and after the word " stock ", where it last occurs, there shall be inserted the words " and " bonds ".

PART III

Consequential Repeal of Enactments relating to Government Stock.

Session and Chapter	Short Title	Extent of Repeal
6 & 7 Will. 4. c. 28	The Government Offices Security Act, 1836.	In section one, the words " in the books of the Bank " of England ".
1 & 2 Vict. c. 61	The Government Offices Security Act, 1838.	In section one, the words " in the said books ", where they secondly occur.
33 & 34 Vict. c. 71	The National Debt Act, 1870.	In section five, the words from " and (subject to the " provisions of Part V of " this Act) " to the end of the section; section twenty-two ; sections twenty-three and twenty-four, so far as relating to stock and bonds of the descriptions mentioned in section forty-seven of this Act; section twenty-five ; Part VI ; in section fifty-one the words " in " the books of the Bank " of England or of Ireland " (as the case may be) " ; and in section seventy, the words " or for receiving any certificate " or duplicate certificate " under Part VI of this "Act".
44 & 45 Vict. c. 55	The National Debt Act, 1881.	In section three, the words " shall be transferable in " the books of the Bank " of England in like manner " as the annuities with which they are consolidated, and ".
46 & 47 Vict. c. 54	The National Debt Act, 1883.	In section eight, in paragraph (8), the words " shall " be transferable in the " books of the Bank of " England in like manner as " the annuities with which " they are consolidated, " and ".
50 & 51 Vict. c. 16	The National Debt and Local Loans Act, 1887.	In section eight, in subsection (5), the words " shall be transferable in " the books of the Banks " of England and Ireland " in like manner as other " stocks of three per cent. " perpetual annuities, and".
52 & 53 Vict. c. 4	The National Debt Redemption Act, 1889.	In section five, in subsection (3), the words " shall be transferable in 1 " those books in like manner " as the annuities with " which they are consolidated, and ".
55 & 50 Vict. c. 39	The National Debt (Stockholders Relief) Act, 1892.	Section five, so far as relating to stock and bonds of the descriptions mentioned in section forty-seven of this Act.
3 Edw. 7. c. 37	The Irish Land Act, 1903.	In section thirty-one, the words " shall be transferable in the books of the " Bank of England and the " Bank of Ireland in like " manner as other stock " transferable under the " National Debt Act, 1870 "and ".
1 & 2 Geo. 5. c. 48	The Finance Act, 1911	Section seventeen.
5 & 6 Geo. 5. c. 93	The War Loan (Supplemental Provisions) Act, 1915.	In section one, in subsection (3), the words " and in-" scribed or registered in " their names in the books " of the Bank of England ".
7 & 8 Geo. 5. c. 31	The Finance Act, 1917	In section thirty-seven, subsections (1), (2) and (3) ; in subsection (4) the words " shall be transferable in ." like manner as other stock " to which the National " Debt Act, 1870, applies " and "; and subsection (5).
11 & 12 Geo. 5. c. 32	The Finance Act, 1921	Section forty-eight.
18 & 19 Geo. 5. c. 17	The Finance Act, 1928	Section thirty-four.
20 & 21 Geo. 5. c. 28	The Finance Act, 1930	Section fifty.
25 & 26 Geo. 5. c. 24.	The Finance Act, 1935	In section thirty, in subsection (5), the words from the beginning to " and ".
26 Geo. 5. & 1 Edw. 8. c. 43.	The Tithe Act, 1936	In section twenty-four, in subsection (7), the words " shall be transferable in " the books of the Bank in " like manner as other stock " transferable under the " National Debt Act, 1870, " and ".
2 & 3 Geo. 6. c. 41	The Finance Act, 1939	In section thirty-five, subsection (1) ; and in subsection (3), the words " the books and the transfer by deed register of the " Bank, and ".
4 & 5 Geo. 6. c. 18	The National Loans Act, 1941.	In section one, the words " (hereafter in this Act " referred to as ' the principal Act') " ; and section two.

Consequential Repeal of Order in Council relating to Government Stock.

Year and No. of Order	Short Title	Extent of Repeal
Statutory Rules and Orders, 1923, No. 227.	The Bank of Ireland (Belfast Register) Order, 1923.	In Article one, in paragraph (1), the words " (hereinafter " referred to as Government " stock) " ; the words " the " National Debt Act, 1870, " as amended by any subsequent enactment" and the words " section seventeen of the Finance Act, "1911, or", and in paragraph (2), the words " in " Part VI of the National " Debt Act, 1870, and the " regulations made under " section thirty-seven of " the Finance Act, 1917, " and ".