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National Loans Act 1968
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Changes over time for: Section 16
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There are currently no known outstanding effects for the National Loans Act 1968, Section 16.
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16 Supplemental provisions as to national debt.U.K.
(1)F1. . . in section 43(2) of the M1Finance Act 1956 (enactments relating to lotteries: saving for premium bonds under the M2National Loans Act 1939) the reference to the said Act of 1939 shall include a reference to this Act.
F2(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)Stock or registered bonds issued under this Act, other than premium savings bonds, shall be included in Part I of Schedule 11 to the M3Finance Act 1942 (transfer and registration of government stock).
(4)Stock or registered bonds issued under this Act shall be subject to the provisions of the M4National Debt Act 1870 so far as is consistent with the tenor of this Act.
[F3(4A)In subsections (3) and (4) above the references to stock or registered bonds issued under this Act include references to a strip (within the meaning of section 47 of the Finance Act 1942) of any stock or bond (whether the stock or bond is issued under this Act or otherwise).]
F4(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F5(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7)There shall be paid out to [F6Registrar of Government Stock], . . . F7, such sums in respect of the management [F8in any period] of any Government securities as may be agreed upon between [F9the Treasury and the [F6Registrar of Government Stock]] .
In this subsection “Government securities” means securities of Her Majesty’s Government in the United Kingdom and securities issued under—
F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .,
the M5Irish Land Act 1903,
the M6Irish Land Act 1909,
the M7Northern Ireland Land Act 1925.
F11(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(9)Sums payable under subsection (7) above shall be met out of the National Loans Fund with recourse to the Consolidated Fund, except that—
F12(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F13(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in s. 16(1) repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt. IX Gp. 1.
F2S. 16(2) repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt. IX Gp. 1.
F4S. 16(5) repealed by Income and Corporation Taxes Act 1970 (c. 10), Sch. 16
F5S. 16(6) repealed by National Debt Act 1972 (c. 65), Sch.
F6Words in s. 16(7) substituted (1.7.2004) by The Government Stock (Consequential and Transitional Provision) (No. 2) Order 2004 (S.I. 2004/1662), art. 1, Sch. paras. 1, 15(3) (with art. 3)
F7Words repealed by Post Office Act 1969 (c. 48), Sch. 11 Pt. II
F8Words substituted by Finance Act 1971 (c. 68), s. 68(a)
F9Words in s. 16(7) substituted (28.10.2002) by virtue of The Irish Registers of Government Stock (Closure and Transfer) Order 2002 (S.I. 2002/2521), arts. 1, 2, 10(1), Sch. 1 para. 5
F10Words repealed by Finance Act 1989 (c. 26, SIF 99:3), s. 187, Sch. 17 Pt. XIV
F11S. 16(8) repealed by Finance Act 1971 (c. 68), Sch. 14 Pt. VII
F12S. 16(9)(a) repealed by Finance Act 1989 (c. 26, SIF 99:3), s. 187, Sch. 17 Pt. XIV
F13S. 16(9)(b) and preceding word repealed by Finance Act 1981 (c. 35, SIF 99:3), s. 139(6), Sch. 19 Pt. XII
Modifications etc. (not altering text)
C1S. 16(3) restricted (retrospective to 13.3.1968) by 1999 c. 16, s. 136(1)(3)
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