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One half of securities to be parliamentary stocks, &c.
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5. At least one half of the whole amount of securities held by the Commissioners for the Reduction of the National Debt for savings banks, exclusive of and in addition to the amount of the charge upon the Consolidated Fund for savings banks created under section one of this Act, shall be in parliamentary stocks of annuities, or in Exchequer bills or bonds, or other securities the interest of which is chargeable upon the Consolidated Fund; and if it shall appear on the twentieth day of November in any one year that the amount of all such securities held by the said Commissioners for savings banks shall be less than one half of the whole of the securities so held by them, it shall not then be lawful for the said Commissioners to make the investments in any other securities authorized by this Act until the amount of such first-named securities shall be raised by further investments to the full amount of not less than one half of the whole securities held by the said Commissioners, exclusive of the said charge upon the Consolidated Fund under section one.
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