|
|
Power to raise new guaranteed three per cent. stock, and provision as to investment by savings bank depositors in stock.
56 & 57 Vict. c. 69.
|
2.—(1) The power of the Treasury to create stock for the purpose of raising money required for the Irish Land Purchase Fund (including the Land Purchase Aid Fund) shall include power to create a new capital stock to be called guaranteed three per cent. stock, and the Treasury may at any time create for that purpose either guaranteed two-and-three-quarters per cent. stock or guaranteed three per cent. stock, as they think fit.
|
|
| |
(2) The provisions of the Act of 1903 relating to stock shall apply to guaranteed three per cent. stock created under this section as they apply to the guaranteed two-and-three-quarters per cent. stock created under that Act, with the substitution of three per cent. for two-and-three-quarters per cent. as the rate of dividend, and of thirty years from the passing of this Act for thirty years from the commencement of the Act of 1903 as the period after the expiration of which the stock is redeemable.
|
|
| |
(3) The definition of Government stock in subsection (2) of section five of the Savings Bank Act, 1893, shall be read as if stock issued under the Act of 1903 or this Act were included in the First Schedule to the said Savings Bank Act, 1893.
|
