# The Exchange of Securities (General) Rules 1979, Article 3: Interpretation


In these Rules, unless the context otherwise requires, the following expressions have the meanings hereby respectively assigned to them, that is to say:—
“acceptance of an offer of exchange” means acceptance of an offer of exchange made by the Bank or the Director of Savings under the terms of issue of any old securities or in any notice which may be issued by the Bank or the Director of Savings containing an offer to exchange old securities for new securities and means an application for exchange made to the Bank or the Director of Savings if any such notice contains an invitation to apply to exchange old securities for new securities, and the expressions “acceptance” and “accepting” shall be construed accordingly;
“appropriate authority” means, in relation to an acceptance of an offer of exchange, the person with whom the acceptance is required by these Rules to be lodged;
“the Bank” means the Bank of England or the Bank of Ireland at Belfast, as the case may require;
“the Commissioners” means the National Debt Commissioners;
“curator”, in relation to a minor, includes an administrator at law, a curator nominate, a curator chosen by the minor with the sanction of the Court or appointed by the Court, and a person assumed to act as curator by virtue of an Act of Parliament;
“exchange” means any exchange of old securities for new securities or conversion of old securities into new securities for which the Treasury do not make separate Rules, and the expression “exchanged” shall be construed accordingly;
“holder” means the holder of any old securities;
“infant”, in relation to Scotland, means any pupil or any minor;
“minor” means a female who has attained the age of twelve years, but has not attained the age of eighteen years, or a male who has attained the age of fourteen years, but has not attained the age of eighteen years;
“new securities” means any securities which may be issued by Her Majesty's Government in the United Kingdom and for which any old securities may be exchanged under the terms of issue of the old securities or under the terms of any notice which may be issued by the Bank or the Director of Savings;
“old securities” means any securities of Her Majesty's Government in the United Kingdom (except National Savings Certificates) which may be exchanged either under the terms of issue of old securities or under the terms of any notice which may be issued by the Bank or the Director of Savings;
“pupil” means a female who has not attained the age of twelve years or a male who has not attained the age of fourteen years;
“receiver” in relation to an acceptance in a case where the holder is a person suffering from mental disorder, means:—
(a) in the application of these Rules to England and Wales, a receiver or other person authorised in that behalf under Part VIII of the Mental Health Act 1959;
(b) in the application of these Rules to Scotland, a curator bonis or other person appointed by the Court to manage the affairs of the holder; and
(c) in the application of these Rules to Northern Ireland, the holder's committee;
“tutor” includes an administrator at law, a tutor by virtue of, or appointed under, an Act of Parliament, a tutor dative, a tutor nominate, a person assumed to act as tutor by virtue of an Act of Parliament and a factor loco tutoris.

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Source: https://www.legislation.gov.uk/uksi/1979/1678/article/3 (the official version)
Page: https://openlegislation.uk/exchange-of-securities-general-rules-1979/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.