# The FIRST Option Bonds (Exchange of Securities) Rules 2011, Article 6: Effect of exchange


Where FIRST Option Bonds are exchanged for Guaranteed Growth Bonds—
(a) the Guaranteed Growth Bonds are to be treated as affected by all trusts, charges, rights, stop notices and restraints that affected the FIRST Option Bonds for which they are exchanged;
(b) any power of attorney relating to the FIRST Option Bonds exchanged is to apply to the corresponding Guaranteed Growth Bonds received; and
(c) any specific bequest of the FIRST Option Bonds exchanged is to be construed as a specific bequest of the corresponding Guaranteed Growth Bonds received.

---
Source: https://www.legislation.gov.uk/uksi/2011/1306/article/6 (the official version)
Page: https://openlegislation.uk/first-option-bonds-exchange-of-securities-rules-2011/article-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.