11.—(1) Application to sell any stock shall be made by sending to the Director of Savings an application in writing in the approved form together with any certificate or subscription book relating to that stock.
(2) As soon as practicable after receiving an application to sell stock, the Director of Savings shall cause the sale of the stock to be effected through the Commissioners.
(3) On completion of the sale of any stock the Director of Savings shall, before paying the proceeds of the sale to the person entitled thereto, deduct the amount payable under these Regulations by way of commission on the sale.
(4) This Regulation shall apply only to stock which is of a description corresponding to stock or securities transferable in the books of the Bank of England.