- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (28/11/2004)
- Gwreiddiol (Fel y'i Deddfwyd)
Aircraft and Shipbuilding Industries Act 1977 (repealed)
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Rhagor o Adnoddau
Changes over time for: Section 40
Version Superseded: 22/03/2013
Alternative versions:
- 01/02/1991- Amendment
- 22/07/2004- Amendment
- 28/11/2004
Point in time - 22/03/2013- Amendment
- 26/05/2015- Amendment
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Point in time view as at 28/11/2004. This version of this provision has been superseded.
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There are currently no known outstanding effects for the Aircraft and Shipbuilding Industries Act 1977 (repealed), Section 40.
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40 General provisions as to compensation stock.U.K.
(1)Compensation stock shall bear such rate of interest and be subject to such conditions as to repayment, redemption and other matters as the Treasury may determine.
(2)The Treasury may by regulations made by statutory instrument make provision as to the issue of compensation stock by the Bank of England.
(3)Regulations under subsection (2) above may contain such incidental or supplementary provisions as the Treasury consider appropriate.
(4)The Corporation in which any securities become vested shall be liable to indemnify the Bank of England against any loss suffered by them arising out of, or in connection with, the issue of compensation stock in respect of the vesting of those securities.
(5)Any expenses incurred in connection with the issue or repayment of compensation stock shall be charged on and issued out of the National Loans Fund.
(6)References in the preceding provisions of this section to compensation stock include references to stock issued by way of compensation in accordance with paragraph 5 of Schedule 4 to this Act.
Modifications etc. (not altering text)
C1By British Aerospace Act 1980 (c. 26, SIF 64), s. 10(1) it is provided that ss. 40(4) and 41(4) are repealed in relation to British Aerospace and that any reference in those provisions (in whatever terms expressed) to either or both of the Corporations originally established by s. 1 of this Act shall be construed as a reference to the other Corporation so established (that is to say, British Shipbuilders)
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