Savings Bank Investment Act, 1863

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SAVINGS BANK INVESTMENT ACT 1863

CHAPTER XXV.

An Act to make further Provision for the Investment of the Monies received by the Commissioners for the Reduction of the National Debt from the Trustees of Savings Banks established under the Enactments of the Act Ninth George the Fourth, Chapter Ninety-two.[¹] [8th June 1863.]

[Preamble.]

[S. 1 (providing that sums amounting to 24,000,000l. capital stocks of Annuities standing in the books of the Bank of England to the credit of the National Debt Commissioners shall be cancelled, and a charge on the Consolidated. Fund created in lieu thereof,) and s. 2 (empowering the Treasury to cancel an additional amount of stock not exceeding 5,000,000l., and create equivalent terminable Annuities in lieu thereof, expiring 5th April 1885) rep. 32 & 33 Vict. c. 59. s. 8.]

[¹ Short title, “The Savings Bank Investment Act, 1863.” See 55 & 56 Vict. c. 10.]