Savings Bank Investment Act, 1863

Commissioners may invest interest and other monies received by them on account of savings banks.

3. The Commissioners for the Reduction of the National Debt, after reserving thereout from time to time such sums as they shall think fit, shall, under such regulations as the said Commissioners shall direct, invest the interest payable to them on account of the securities created under this Act, and the dividends and interest on all other securities held by them for savings banks, and all monies remitted to them on account of savings banks, in the purchase of parliamentary securities, of whatsoever kind, created or issued or which may hereafter be created or issued under the authority of any Act or Acts of Parliament, and directly chargeable on the Consolidated Fund of the United Kingdom, or in any stock or debentures or other securities the due payment of the interest on which is expressly guaranteed by authority of Parliament.

[S. 4 rep. 32 & 33 Vict. c. 59. s. 8.]