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Section 59 Bank and Registrar of Government Stock not responsible to second claimantC1F1

United Kingdom

(1)

Where any stock or dividends have been re-transferred or paid as aforesaid to a claimant by the Bank of England, the Registrar of Government Stock or any previous Registrar of Government Stock and is or are afterwards claimed by another person, none of the persons mentioned in subsection (2) shall be responsible for that stock or those dividends to that other claimant but he may have recourse against the person to whom the re-transfer or payment was made.

(2)

Those persons are—

(a)

the Bank of England;

(b)

the Registrar of Government Stock;

(c)

any previous Registrar of Government Stock;

(d)

any officer of any of the persons mentioned in paragraphs (a) to (c).

Annotations

Textual amendments

F1

S. 59 substituted (1.7.2004) by The Government Stock (Consequential and Transitional Provision) (No. 2) Order 2004 (S.I. 2004/1662), art. 1, Sch. paras. 1, 3(8) (with art. 3)

Modifications

C1

S. 59 extended (retrospectively) by 2002 c. 23, s. 138(3)(5)