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National Debt (Conversion of Stock) Act 1884

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7Supplemental provisions

(1)Where stock is exchanged under this Act, the stock taken in exchange and the dividends thereon shall be subject to the same trusts, charges, rights, distringas, and restraints as affect the stock cancelled on the exchange and the dividends thereon respectively, and all powers of attorney, requests as to dividends, and other documents relating to the cancelled stock and the dividends thereon, or either of them, shall apply to the stock taken in exchange and the dividends thereon respectively.

(2)The arrangements made by the Treasury for the exchange of stock under this Act may provide for the manner in which any request for or 'assent to such exchange is to be made or given, and as to the evidence of title, unsoundness of mind, infancy, or other matter which the Bank may require, and in the case of a stockholder who is of unsound mind, or an infant, or otherwise under disability, may provide for the request or assent being made or given by the committee, guardian, or other person on behalf of such stockholder, and where one or more of the holders of stock on a joint account is or are of unsound mind, an infant, infants, or under disability, or is or are beyond the seas, may also provide for dispensing with the request or assent of such holder or holders,

(3)A warrant from the Treasury shall be a sufficient authority to the Bank for anything done by the Bank in pursuance of such authority for the purposes of this Act.

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