Stock Transfer Act 1963

4 Interpretation.U.K.

(1)In this Act the following expressions have the meanings hereby respectively assigned to them, that is to say—

  • “local authority” means, in relation to England and Wales, any authority being, within the meaning of the Local Loans Act 1875, an authority having power to levy a rate

[F1[F2(a)a billing authority or a precepting authority, as defined in section 69 of the Local Government Finance Act 1992;

(aa)[F3a combined police authority or] a combined fire authority, as defined in section 144 of the M1Local Government Finance Act 1988;]

(b)a levying body within the meaning of section 74 of that Act; and

F1(c)a body as regards which section 75 of that Act applies.] and, in relation to Scotland, a county council, a town council and any statutory authority, commissioners or trustees to whom section 270 of the M2Local Government (Scotland) Act 1947 applies;

  • “registered securities” means transferable securities the holders of which are entered in a register (whether maintained in Great Britain or not);

  • “securities” means shares, stock, debentures, debenture stock, loan stock, bonds, units of a [F4collective investment scheme within the meaning of the Financial Services Act 1986], and other securities of any description;

  • “stock exchange transaction” means a sale and purchase of securities in which each of the parties is a member of a stock exchange acting in the ordinary course of his business as such or is acting through the agency of such a member;

  • “stock exchange” means the Stock Exchange, London, and any other stock exchange (whether in Great Britain or not) which is declared by order of the Treasury to be a recognised stock exchange for the purposes of this Act.

(2)Any order of the Treasury under this section shall be made by statutory instrument, and may be varied or revoked by a subsequent order.

Textual Amendments

F1S. 4(1): in definition of "local authority" paras. (a)(b)(c) substituted (E.W.) (1.4.1990) for words by S.I. 1990/776, art. 8, Sch. 3 para. 8

F2S. 4(1): in definition of "local authority" paras. (a)(aa) substituted (2.11.1992) for para. (a) by Local Government Finance Act 1992 (c. 14), s. 117(1), Sch. 13 para. 12; S.I. 1992/2454, art. 2.

F3Words in s. 4(1) repealed ((E.W.) 1.4.1995 and otherwiseprosp.) by 1994 c. 29, ss. 93, 94(1), Sch. 9 Pt.I; S.I. 1994/3262, art. 4,Sch.

Marginal Citations