National Debt Act 1889

1889 CHAPTER 6 52 and 53 Vict

An Act to amend the Law relating to the National Debt.

[31st May 1889]

1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1 U.K.

Textual Amendments

F1 S. 1 repealed by Finance Act 1899 (c. 9), s. 16

2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2 U.K.

Textual Amendments

F2 S. 2 repealed by Revenue Act 1898 (c. 46), s. 19

3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3 U.K.

Textual Amendments

F3 Ss. 3, 4(3)–(5) repealed by Statute Law Revision Act 1950 (c. 6)

4 Amendment of law as to payment of dividends on stock. U.K.

(1) The Banks of England and Ireland respectively may from time to time, with the concurrence of the Treasury, make regulations for the payment of dividends on stock either by sending warrants through the post, or by payment through a banker . . . F4 .

(2) Where a dividend warrant is sent by post in accordance with any such regulations, the posting of the letter containing the warrant, addressed in the manner prescribed by the regulations, shall, as respects the liability of the Bank, be equivalent to the delivery of the warrant to the stockholder.

(3)–(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5

(6) This section shall apply to all stock of any company or corporation, funds or annuities, transferable in the books of the Bank of England or of Ireland, [F6 or in manner provided by regulations made under section forty-seven of the M1 Finance Act 1942.]

(7) This section shall be construed and have effect as part of the M2 National Debt Act 1870.

Textual Amendments

F4 Words repealed by Statute Law (Repeals) Act 1986 (c. 12), s. 1(1), Sch. 1 Pt. III

F5 Ss. 3, 4(3)–(5) repealed by Statute Law Revision Act 1950 (c. 6)

F6 Words added by Finance Act 1942 (c. 21), Sch. 11 Pt. II

Modifications etc. (not altering text)

C1 S.4(1)(2) extended retrospectively by East India Loans Act 1937 (c. 14), s. 2(4)

Marginal Citations

M1 1942 c. 21.

M2 1870 c. 71.

5 Amendment of law as to signature of Exchequer and Treasury bills. U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7 Treasury bills shall bear the name of one of the secretaries for the time being to the Treasury, and that name may be impressed or affixed by machinery or otherwise in such manner as the Treasury from time to time direct by regulations to be laid before both Houses of Parliament.

Textual Amendments

F7 Words repealed by Statute Law Revision Act 1966 (c. 5)

Modifications etc. (not altering text)

C2 S. 5 applied (with modifications) (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), reg. 1(1), Sch. 2 para. 1

6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8 U.K.

Textual Amendments

F8 S. 6 and Schedule repealed by Statute Law Revision Act 1908 (c. 49)

7 Short title. U.K.

This Act may be cited as the National Debt Act 1889.

F9 F9 SCHEDULE U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9 S. 6 and Schedule repealed by Statute Law Revision Act 1908 (c. 49)