Cable and Wireless Act 1946

SCHEDULES

Section 1.

FIRST SCHEDULE Companies Holding Shares of Cable and Wireless Limited on 18th April, 1946

Company.	Number of shares held.
The Eastern Telegraph Company Limited	10,750,660
The Eastern Extension, Australasia and China Telegraph Company Limited	6,709,853
The Western Telegraph Company Limited	5,301,646
Marconi's Wireless Telegraph Company Limited	2,529,413
The Eastern and South African Telegraph Company Limited	1,291,854
The African Direct Telegraph Company Limited	301,763
The West Coast of America Telegraph Company Limited	205,379
The West African Telegraph Company Limited	188,243
The Europe and Azores Telegraph Company Limited	121,189

Section 1.

SECOND SCHEDULE Incidental and Supplemental Provisions as to Government Stock and Interest on Compensation

1 The government stock shall bear such rate of interest and be subject to such conditions as to repayment, redemption and other matters (including provision for a sinking fund) as the Treasury may determine.

2 The principal of and interest on the government stock and any expenses incurred in connection with the issue or repayment thereof, and the sums to be paid under this Act by way of interest on compensation, shall be charged on and issued out of the Consolidated Fund.

3 There shall be paid to the Banks' of England and Ireland, respectively, out of the Consolidated Fund, such sums in respect of the management in any financial year "of the government stock as may be agreed upon between the Treasury and those Banks respectively.

4 The interest on the government stock shall be paid out of the permanent annual charge for the national debt.

5 Section forty-seven of the [5 & 6 Geo. 6. c. 21.] Finance Act, 1942 (which empowers the Treasury to make regulations as respects the transfer and registration of stock and registered bonds of the descriptions specified in Part I of the Eleventh Schedule to that Act), and any regulations made thereunder which are in force immediately before the date of issue of the government stock, shall have effect as if that stock were included among the stocks mentioned in the said Part I and among the stocks to which the said regulations apply.

6 Paragraphs 3, 4 and 5 of the Second Schedule to the [2 & 3 Geo. 6. c. 117.] National Loans Act, 1939 (which applies certain enactments to securities issued under that Act), shall have effect as if references to securities issued under that Act included references to the government stock.

7 The government stock shall be subject to the provisions of the [33 & 34 Vict. c. 71.] National Debt Act, 1870, so far as is consistent with the tenor of this Act.

8 The Treasury may, for the purpose of providing any sums required by them in order to redeem the government stock, raise money in any manner in which they are authorised to raise money under the National Loans Act, 1939, and any securities created and issued to raise money under this paragraph shall be deemed for all purposes to have been created and issued under that Act.

Section 4.

THIRD SCHEDULE Particulars of Agreement Partially Abrogated

An agreement made the twenty-ninth day of May, nineteen hundred and twenty-nine, between—

(a) His Majesty of the first part;

(b) Cable and Wireless (Holding) Limited (therein called by its then name of Cables and Wireless Limited) of the second part;

(c) the operating company (therein called by its then name of Imperial and International Communications Limited) of the third part; and

(d) the Eastern Telegraph Company Limited, the Eastern Extension, Australasia and China Telegraph Company Limited, the Western Telegraph Company Limited and Marconi's Wireless Telegraph Company Limited (being some of the companies mentioned in the First Schedule to this Act) of the fourth part;

which was made in pursuance of the recommendations of the Imperial Wireless and Cable Conference, 1928, and of which (together with other agreements so made) a copy was presented to Parliament in the year nineteen hundred and twenty-nine by command of His Majesty.