(1)The Treasury or the Secretary of State with the Treasury’s approval may for the purposes of section 49, 50 or 58 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 from time to time by the Treasury or by the Secretary of State—
(a)securities may be issued under section 49 or 58 to a nominee of 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 50 may acquire securities under that section.
(3)A person holding any securities as a nominee of the Treasury or the Secretary of State by virtue of this section must hold and deal with them (or any of them) on such terms and in such manner as may be specified in directions given by the Treasury or the Secretary of State.
(4)A direction of the Secretary of State under subsection (2) or (3) requires the Treasury’s consent.
Commencement Information
I1S. 62 wholly in force at 1.2.2001, see s. 275(1)(2) and S.I. 2001/57, art. 3(1), Sch. 2 Pt. I (subject to the transitional provision and saving in Sch. 2 Pt. II)