The Local Authority (Stocks and Bonds) Regulations 1974

Title, commencement and interpretation

1.—(1) These regulations may be cited as the Local Authority (Stocks and Bonds) Regulations 1974 and shall come into operation on 1st April 1974.

(2) The Interpretation Act 1889 shall apply for the interpretation of these regulations as it applies for the interpretation of an Act of Parliament.

(3) In these regulations—

“bonds” shall not include bonds transferable by delivery;

“local authority” has the same meaning as in section 270(1) of the Local Government Act 1972;

“negotiable bonds” means any bonds in respect of which application has been or is to be made to the Council of the Stock Exchange for admission to the Official List, or any bonds which are to be issued in whole or in part to a bank, discount house, issuing house, or broker in the City of London;

“registrar”, in relation to any description of stock or bonds, means the local authority or other person appointed by the local authority to act as registrar for the purposes of these regulations in respect of that stock or those bonds; and

“stock” shall not include stock transferable by delivery.