79 Exercise of functions through nominees.U.K.
(1)The Treasury or, with the consent of the Treasury, the Secretary of State may for the purposes of sections 63, 64 or 74(3) and (4) appoint a person to act as the nominee, or one of the nominees, of the Treasury or the Secretary of State.
(2)In accordance with directions given by the Treasury or, with the consent of the Treasury, the Secretary of State—
(a)securities may be issued in pursuance of section 63 or 74(3) and (4) to a nominee of the Treasury or the Secretary of State appointed for the purposes of that section, and
(b)a nominee of the Treasury or the Secretary of State appointed for the purposes of section 64 may acquire securities in pursuance of that section.
(3)A person holding any securities or rights as a nominee of the Treasury or the Secretary of State by virtue of this section shall hold and deal with them (or any of them) on such terms and in such manner as the Treasury or, with the consent of the Treasury, the Secretary of State may direct.