Finance Act 1931

43 Prolongation of currency of savings certificates

(1) Notwithstanding anything in any enactment relating to savings certificates, or in any regulation made under any such enactment or any conditions relating to the issue of any savings certificates, the Treasury may from time to time direct that the currency of any savings certificates to which the direction applies shall be prolonged to such extent and on such conditions as to interest and otherwise as may be specified in the direction :

Provided that nothing in this section shall—

(a) prejudice the right of any holder of a savings certificate, if he so desires, to have the amount payable under the certificate paid to him on or before maturity; or

(b) authorise the prolongation beyond the thirty-first day of March, nineteen hundred and forty, of the currency of any savings certificate issued on or before the thirty-first day of March, nineteen hundred and twenty-two.

(2) It is hereby declared that the power of the Treasury under subsection (2) of section forty-six of the [16 & 17 Geo. 5. c. 22.] Finance Act, 1926, to make arrangements for enabling the holders of any savings certificates to exchange them for other securities, includes power to make arrangements for enabling the holders of savings certificates of any issue to exchange them for savings certificates of a later issue.

(3) In this section the expression " savings certificate " means a war savings certificate or a national savings certificate, and the expression " currency" in relation to a savings certificate means the period at the expiration of which the certificate is required to be redeemed or repaid.