Trustee Investments Act 1961

4 In this Schedule, unless the context otherwise requires, the following expressions have the meanings hereby respectively assigned to them, that is to say—

• " debenture " includes debenture stock and bonds, whether constituting a charge on assets or not, and loan stock or notes ;

• " enactment " includes an enactment of the Parliament of Northern Ireland;

• " fixed-interest securities " means securities which under their terms of issue bear a fixed rate of interest;

• " local authority " in relation to the United Kingdom, means any of the following authorities—

  (a)

  in England and Wales, the council of a county, a county, metropolitan or other borough (including a borough which has been included in a rural district), an urban or rural district or a parish, the Common Council of the City of London and the Council of the Isles of Scilly ;

  (b)

  in Scotland, a local authority within the meaning of the Local Government (Scotland) Act, 1947 ;

  (c)

  in Northern Ireland, the council of a county, a county or other borough, or an urban or rural district;

• " ordinary deposits " and " special investment " have the same meanings respectively as in the Trustee Savings Banks Act, 1954;

• " securities " includes shares, debentures, Treasury Bills and Tax Reserve Certificates;

• " share " includes stock ;

• " Treasury Bills " includes Exchequer bills and other bills issued by Her Majesty's Government in the United Kingdom and Northern Ireland Treasury Bills.