National Debt Act 1870 (c. 71)

Part I U.K.

Preliminary U.K.

1 Short title. U.K.

This Act may be cited as “The National Debt Act 1870.”

2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1 U.K.

Textual Amendments

F1 Ss. 2, 4 repealed by Statute Law (Repeals) Act 1986 (c. 12), s. 1(1), Sch. 1 Pt. III

3 Interpretation of terms. U.K.

In this Act—

• F2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• “Stock” means the several capital or joint stocks of perpetual annuities described in the first schedule to this Act, and includes any share or interest therein respectively:

[F3 “Stockholder” means a person holding stock, being entered as such in—

(a)

[F4 a register kept by the Registrar of Government Stock in accordance with regulations under section 47 of the Finance Act 1942 (see regulation 7 of the Government Stock Regulations 2004); or]

(b)

a register kept by the Operator of a relevant system under the Uncertificated Securities Regulations 2001 (and “Operator” and “relevant system” shall have the same meanings as they have in those Regulations):]

• “Warrant” includes draft, order, cheque, or other document used as a medium for payment of dividends:

• F2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• F5 ......

• “The Consolidated Fund” means the consolidated fund of the United Kingdom of Great Britain and Ireland:

• “The Court of Chancery” means the Court of Chancery in England or the Court of Chancery in Ireland as the case requires:

• “Person” includes corporation:

• [F6 “the Registrar of Government Stock” means the person or persons appointed in accordance with regulations under section 47(1)(b) of the Finance Act 1942 (see regulation 3 of the Government Stock Regulations 2004):]

• “Representatives” means executors, administrators, or successors and assigns.

Textual Amendments

F2 Definition repealed by Statute Law Revision (No. 2) Act 1893 (c. 54)

F3 S. 3: definition of “Stockholder” substituted (26.11.2001) by S.I. 2001/3755, reg. 51, Sch. 7 Pt. I para. 1 (with regs. 39, 45)

F4 Words in s. 3 substituted (1.7.2004) by The Government Stock (Consequential and Transitional Provision) (No. 2) Order 2004 (S.I. 2004/1662), art. 1, Sch. paras. 1, 3(2)(a) (with art. 3)

F5 Words in s. 3 omitted (1.7.2004) by virtue of The Government Stock (Consequential and Transitional Provision) (No. 2) Order 2004 (S.I. 2004/1662), art. 1, Sch. paras. 1, 3(2)(b) (with art. 3)

F6 Words in s. 3 inserted (15.11.2004) by Government Stock (Consequential and Transitional Provision) (No.3) Order 2004 (S.I. 2004/2744), art. 1, Sch. para. 1(2) (with art. 3)

Modifications etc. (not altering text)

C1 Functions of (a) Court of Chancery in England now exercisable by Chancery Division of the High Court: Supreme Court of Judicature (Consolidation) Act 1925 (c. 49), ss. 18, 56(1)(a); (b) Court of Chancery in Ireland now exercisable by High Court of Justice in Northern Ireland: Supreme Court of Judicature Act (Ireland) 1877 (c. 57), s. 71 and S.R. & O. 1921/1802 (Rev. XVI, p. 954: 1921, p. 1332), art. 2

4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7 U.K.

Textual Amendments

F7 Ss. 2, 4 repealed by Statute Law (Repeals) Act 1986 (c. 12), s. 1(1), Sch. 1 Pt. III