The Exchange of Securities (General) Rules 1979

Manner of making acceptance

6.—(1) An acceptance of the offer of exchange of securities registered at the Bank or in the National Savings Stock Register shall:—

(a) be made on a form to be supplied for the purpose by the appropriate authority or a form to the like effect;

(b) give particulars of the amount of the holding to which the acceptance relates and of the full name of every person in whose name the holding is entered in the registers of the Bank or in the National Savings Stock Register as the case may be and also in the case of a holding in the National Savings Stock Register, the address and description of every person in whose name the holding is entered;

(c) be accompanied by the Bond Book or certificate of title relating to the holding; and

(d) be signed by every person accepting the offer, or, in the case of an acceptance made by a corporation, sealed with the common seal of the corporation, or, in the case of a corporation not having a common seal, executed in accordance with the rules of law and the provisions of any Act or instrument regulating the constitution of the corporation with respect to the execution of instruments by the corporation.

Provided that, where the securities are registered in the National Savings Stock Register, an acceptance made by a corporation may, instead of being so sealed or executed, be signed by the Secretary or Treasurer or two of the directors for the time being of the corporation, or, in the case of a corporation sole, by the person representing the corporation for the time being.

(2) An acceptance relating to bearer bonds shall:—

(a) be made on a form to be supplied for the purpose by the Bank of England or a form to the like effect;

(b) specify the respective denoting numbers (entered in numerical order) and denominations of the bonds to which the acceptance relates;

(c) specify the full name and address of the person lodging the acceptance; and

(d) be accompanied by the bonds to which the acceptance relates and such coupons as are specified in the terms under which the old securities may be exchanged for new securities.

(3) An acceptance may be sent by post unless the terms of issue of the old security, or a notice offering exchange or inviting applications for exchange stipulates otherwise.