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Northern Ireland (Miscellaneous Provisions) Act 1945

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This is the original version (as it was originally enacted).

7Investment of funds of savings banks in Northern Ireland Government securities and securities guaranteed by that Government

(1)Paragraph (b) of subsection (1) of section one of the Trustee Savings Banks (Special Investments) Act, 1934 (which includes, amongst the securities in which the National Debt Commissioners may authorise moneys received by the trustees of a trustee savings bank to be invested, securities the principal and interest whereof are charged on the Consolidated Fund whether directly or by virtue of any guarantee, being securities which will mature for payment not later than thirty years after the date of the investment), shall have effect as if the reference therein to the Consolidated Fund included a reference to the Consolidated Fund of Northern Ireland.

(2)There shall be included amongst the securities in which the National Debt' Commissioners may invest in pursuance of section nine of the Post Office Savings Bank Act, 1861, section three of the Savings Bank Investment Act, 1863, and section nineteen of the Trustee Savings Banks Act, 1863, any securities the interest, of which is for the time being guaranteed by the Parliament of Northern Ireland.

(3)This section shall extend to the Isle of Man and the Channel Islands.

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