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Finance Act 1937

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This is the original version (as it was originally enacted).

28Advertisement of applications for unclaimed stock, dividends and other moneys

(1)Where an application is made for a direction under section fifty-five of the [33 & 34 Vict. c. 71.] National Debt Act, 1870 (which, as extended by paragraph 6 of the Third Schedule to the [10 & 11 Geo. 5. c. 32.] Finance Act, 1921, relates to unclaimed stock, dividends and principal moneys payable on redemption) either—

(a)for the re-transfer of any stock the nominal value whereof exceeds twenty pounds; or

(b)for the payment of any dividends or other moneys amounting in all to more than twenty pounds;

the direction may, if the Governor or Deputy Governor of the Bank thinks fit, be withheld until three months after public notice of the application has been given by advertisement in such manner and containing such particulars as he may direct.

(2)In this section " the Bank " means the Bank of England, or, if the application is made to the Bank of Ireland, the Bank of Ireland.

(3)Sections fifty-six and fifty-seven of the National Debt Act, 1870, shall cease to have effect.

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