Local Government (No. 2) Act, 1960
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Issue of stock. |
6.—(1) Where a local authority borrow by way of an issue of stock, the stock shall be created, issued, transferred, dealt with, redeemed and extinguished in such manner, on such terms and in accordance with such provisions as may be prescribed by the Minister for Local Government by regulations. | |
(2) Without prejudice to the generality of subsection (1) of this section, regulations under this section may make provision in respect of any of the following matters: | ||
(a) the discharge of any loan raised by the stock issued in accordance with the regulations, | ||
(b) in the case of consolidation of debt, for extending or varying the times within which loans may be discharged, | ||
(c) consent of limited owners, | ||
(d) the application of the Acts relating to stamp duties and to cheques, | ||
(e) disposal of unclaimed dividends. | ||
(3) Every regulation continued in force by subsection (6) of section 87 of the Local Government Act, 1946 , shall, without prejudice to the provisions of that subsection, be treated as regulations made under this section and, as so treated, shall be capable of being amended or revoked by regulations under this section. |