4.  The following regulation shall be inserted after regulation 2 of the principal regulations:—

   

““Applications and Tenders

2A.— (1) An application or tender for stock made in pursuance of a prospectus issued by or on behalf of a local authority shall not be revocable between—

(a) in the case of an application, the time specified in the prospectus for the opening of the application lists for the stock, or

(b) in the case of a tender, the time specified in the prospectus as the latest time by which tenders for the stock must be lodged,

and 10 a.m. on the day following the second clear day thereafter.

(2) In reckoning any period for the purposes of paragraph (1) of this regulation, any day which is a Saturday or Sunday or which is a bank holiday in any part of England and Wales shall be disregarded.”.