Section 57 Exemption of transfers of stock guaranteed by Treasury.

Where the payment of principal and interest on any stock to which this section applies is guaranteed by the Treasury, transfers of the stock shall be exempt from all stamp duties.

This section applies to all stock issued by any of the following bodies, that is to say :—

• F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• The North of Scotland Hydro-Electric Board ;

• F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

and to any other stock to which it may be applied by direction of the Treasury, being stock issued by a body corporate constituted for the purposes of any scheme for the carrying on of any industry or part of an industry, or of any undertaking, under national ownership or control which may be embodied in any Act passed after the beginning of the present Session.