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Regulation 17

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Subject to the provisions of regulation 3(2) above stock and bonds shall be redeemed by payment of any amount equal to the denomination thereof at the redemption date specified in the certificate issued in respect of them; but

(a)

bonds, other than negotiable bonds, may be so redeemed at any time before the date so specified where the local authority and the holder so agree; and

(b)

stock may be so redeemed at the option of the local authority at any time after the earliest redemption date specified in the certificate issued in respect thereof.