SCHEDULE 1
PART IIControlled Investments
Government and public securities16
1
Subject to sub-paragraph (2), loan stock, bonds and other instruments—
a
creating or acknowledging indebtedness; and
b
issued by or on behalf of a government, local authority (whether in the United Kingdom or elsewhere) or international organisation.
2
F1Subject to sub-paragraph (3), there are excluded from sub-paragraph (1)—
a
so far as applicable, the instruments mentioned in paragraph 15(2)(a) to (d);
b
any instrument creating or acknowledging indebtedness in respect of—
i
money received by the Director of Savings as deposits or otherwise in connection with the business of the National Savings Bank;
F23
Sub-paragraph (2)(a) does not exclude an instrument which meets the requirements set out in paragraphs (a) to (e) of paragraph 15A(2).