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Power to Treasury to issue new Exchequer bills, to replace bills with exhausted coupons.
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13. Whenever any such Exchequer bills issued under the authority of any Act or Acts shall remain outstanding and undischarged, all the coupons of which issued therewith for the interest due thereon shall have become payable, it shall be lawful for the Treasury from time to time to order the preparation and issue of a like amount of Exchequer bills, with coupons for the half-yearly interest becoming due from time to time thereon for any term not exceeding five years from the date thereof, in exchange for and to replace such Exchequer bills with exhausted coupons; and the Treasury shall, on some day not later than twenty-one days prior to the day on which the last half-yearly coupons for interest on such bills shall become due, give notice in the London Gazette of the days on which such Exchequer bills with exhausted coupons may be brought in to be exchanged for new bills with coupons for the half-yearly interest becoming due thereon, and of the day or days on which such new bills will be delivered in exchange: Provided, that if such bills advertised for exchange shall not be brought in for exchange within the period stated in the notice (or for payment as herein-before provided), the interest on such bills shall cease on the day of exchange, and the principal moneys of such bills, when thereafter presented for payment, shall be paid off in money.
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