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Establishment of Post Office stock register.
33 & 34 Vict. c. 71.
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1.—(1) The Treasury may provide for the establishment of a Post Office stock register (in this Act referred to as “the register”), and may direct that any four and a half per cent. War Loan Stock, 1925–1945, or any other stock issued in connection with any loan raised for the purposes of the present war, which is not inscribed in the names of individual holders in the books of the Bank of England or the Bank of Ireland, shall be inscribed in the register.
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(2) The Treasury, in conjunction with the Postmaster General, and in conjunction with the National Debt Commissioners so far as any regulations relate to those Commissioners, may make regulations with respect to the keeping of the register, and the stock required to be inscribed therein, and in particular with respect to—
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(a) investments in and sales of any such stock and the receipt and payment of dividends thereon; and
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(b) the manner in which and the conditions subject to which stock may be transferred either from the name of one holder inscribed on the register to that of any other person so inscribed or to be inscribed, or from the register to the books of the Bank of England or the Bank of Ireland, and vice versa; and
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(c) the commissions and fees payable in respect of dealings in stock inscribed in the register; and
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(d) the maximum amount of stock which may be inscribed in the register in any one holding in any one year, or at any one time, and the exceptions which are to be allowed from any such limits in the case of friendly societies, trade unions, or other similar bodies.
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(3) Regulations made under this Act may provide for the total amount of stock inscribed in the register being held by the National Debt Commissioners and inscribed in their names in the books of the Bank of England, and for the application, with such modifications as appear necessary or expedient, to stock inscribed in the register, or to bearer bonds issued under this Act, of any of the provisions of the National Debt Act, 1870, and of any Act, regulation or warrant relating to savings banks, and may contain such consequential and supplemental provisions as appear necessary or expedient for giving full effect to the regulations.
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