- Latest available (Revised)
- Original (As enacted)
National Debt (Conversion Of Stock) Act 1884 is up to date with all changes known to be in force on or before 19 October 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
An Act for giving Facilities for the Conversion of Three per Cent. Stock into Stock of a Lower Denomination, and for other purposes relating thereto.
[3rd July 1884.]
(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
(2)The two and three-quarters per cent. stock, and two and a half per cent. stock, . . . F2 shall be redeemable by Parliament after not less than one month’s notice at the rate of one hundred pounds sterling for every hundred pounds of the capital sums in respect of which the annuities are payable, together with the payment of all arrears of such annuities, including a proportionate part accrued since the last date for the payment of dividends.
(3)Such notice shall be a resolution of the House of Commons signified by the Speaker in writing and printed in the London Gazette; and the portion of stock redeemed at one time shall not be less, in the case of two and three-quarters per cent. stock, than five million pounds capital stock, and in the case of two and a half per cent. stock, than fourteen million pounds capital stock; but subject as aforesaid, the mode of redemption shall be determined by an Act to be hereafter passed.
(4)The two and three-quarters per cent. stock of annuities shall form part of the National Debt, and shall be payable by equal quarterly dividends on the fifth day of January, the fifth day of April, the fifth day of July, and the fifth day of October in every year.
(5)The annuities created in pursuance of this Act shall be charged on [F3the National Loans Fund with recourse to] the Consolidated Fund of the United Kingdom, . . . F4 and the provisions of the M1National Debt Act 1870, shall apply in the same manner, so far as may be consistently with the tenour of this Act, as if the stocks of annuities created in pursuance of this Act were part of the stocks of perpetual annuities described in the First Schedule to the M2National Debt Act 1870; and the two and a half per cent. stock created under this Act shall be consolidated with the two and a half per cent. stock mentioned in the said Schedule; . . . F2
Textual Amendments
F1S. 1(1), 2 repealed by National Debt and Local Loans Act 1887 (c. 16), Sch. 3
F2Words repealed by Statute Law (Repeals) Act 1986 (c. 12), s. 1(1), Sch. 1 Pt. III
F3Words inserted by National Loans Act 1968 (c. 13,), Sch. 5
F4Words repealed by National Loans Act 1968 (c. 13), Sch. 6 Pt. I
Modifications etc. (not altering text)
C1S. 1(2)(3) excluded (26.3.2015) by Finance Act 2015 (c. 11), s. 124(4)(b)(7)
Marginal Citations
Textual Amendments
F5S. 1(1), 2 repealed by National Debt and Local Loans Act 1887 (c. 16), Sch. 3
Textual Amendments
Textual Amendments
F7S. 4 repealed by National Debt and Local Loans Act 1887 (c. 16), Sch. 3
Textual Amendments
F8S. 5 repealed by Savings Banks Act 1929 (c. 27), Sch.
Textual Amendments
F9Ss. 6, 7 repealed by Statute Law (Repeals) Act 1986 (c. 12), s. 1(1), Sch. 1 Pt. III
Textual Amendments
F10S. 8 repealed by Statute Law Revision Act 1950 (c. 6)
In this Act—
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F11
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F12
“Two and a half per cent. stock” means the stock of two pounds [F1350p] per centum annuities.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F14
Textual Amendments
F11Definition of “Person” repealed by Statute Law Revision Act 1963 (c. 30)
F12Definition repealed by Statute Law (Repeals) Act 1986 (c. 12), s. 1(1), Sch. 1 Pt. III
F13Words substituted by virtue of Decimal Currency Act 1969 (c. 19), s. 10(1)
F14Definition of “The permanent annual charge of the National Debt” repealed by National Loans Act 1968 (c. 13), Sch. 6 Pt. I
This Act may be cited for all purposes as the National Debt (Conversion of Stock) Act 1884.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: