{
  "url": "https://openlegislation.uk/national-debt-act-1972/section-15",
  "json_url": "https://openlegislation.uk/national-debt-act-1972/section-15.json",
  "legislation": "ukpga/1972/65",
  "legislation_title": "National Debt Act 1972",
  "legislation_url": "https://openlegislation.uk/national-debt-act-1972",
  "path": "section/15",
  "kind": "section",
  "number": "15",
  "heading": "Interpretation etc.",
  "text": "(1) In this Act “government stock” means securities of the following descriptions:—\n2½% Consolidated Stock,\n2¾% Annuities,\n2½% Annuities,\nGuaranteed 2¾% Stock,\nGuaranteed 3% Stock,\n3½% War Loan,\nGuaranteed 4½% Bonds,\nAny securities issued under the War Loan Act 1919, the National Loans Act 1939, section 28 or 29 of the Finance Act 1935, . . . section 1 of the Bank of England Act 1946, section 21 or 32 of the Coal Industry Nationalisation Act 1946, section 1 of the Cable and Wireless Act 1946,\nAny such stock as is mentioned in section 26(1) of the Iron and Steel Act 1967,\nAny securities issued under the National Loans Act 1968 other than—\n(a)national savings certificates, premium savings bonds, national savings stamps and national savings gift tokens; and\n(b)such securities as the Treasury may specify by order for the purposes of this paragraph;\nand for the avoidance of doubt it is hereby declared that the reference in this subsection to securities issued under the War Loan Act 1919 or the National Loans Act 1939 includes a reference to securities which, by virtue of any other enactment, are deemed to have been issued, or are required to be treated as having been issued, under either of those Acts.\n(2) Without prejudice to section 17(2)(a) of the Interpretation Act 1978 (which relates to the construction of references to enactments which have been repealed and re-enacted), the definition of “government stock” provided by the foregoing subsection shall apply for the purposes of the following enactments, that is to say—\nsection 48 of the Finance (No. 2) Act 1915,\nsection 66 of the Finance Act 1916,\nsection 48 of the Finance Act 1949,\nsection 5 of the Miscellaneous Financial Provisions Act 1955,\nsection 71(5) of the Finance Act 1963,\nand any other enactments (including enactments of the Parliament of Northern Ireland) which, by virtue of section 15(3) of the National Debt Act 1958, define “government stock” by reference to that Act.\n(3) In this Act “the register” has the meaning assigned to it by section 2(1) of this Act . . .\n(4) Any provision in this Act charging a payment on the National Loans Fund with recourse to the Consolidated Fund shall be construed as requiring the payment, if it is not made out of the National Loans Fund, to be charged on and paid out of the Consolidated Fund.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words repealed by Finance Act 1989 (c. 26, SIF 99:3), s. 187, Sch. 17 Pt. XIV"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words substituted by virtue of Interpretation Act 1978 (c. 30), s. 25(2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words repealed by Trustee Savings Banks Act 1976 (c. 4), Sch. 6 which repeal came into force on 20.7.1986 by virtue of S.I. 1986/1221, art. 3"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "1919 c. 37."
    },
    {
      "type": "M",
      "label": "M2",
      "text": "1939 c. 117."
    },
    {
      "type": "M",
      "label": "M3",
      "text": "1935 c. 24."
    },
    {
      "type": "M",
      "label": "M4",
      "text": "1946 c. 27."
    },
    {
      "type": "M",
      "label": "M5",
      "text": "1946 c. 59."
    },
    {
      "type": "M",
      "label": "M6",
      "text": "1946 c. 82."
    },
    {
      "type": "M",
      "label": "M7",
      "text": "1967 c. 17."
    },
    {
      "type": "M",
      "label": "M8",
      "text": "1968 c. 13."
    },
    {
      "type": "M",
      "label": "M9",
      "text": "1919 c. 37."
    },
    {
      "type": "M",
      "label": "M10",
      "text": "1939 c. 117."
    },
    {
      "type": "M",
      "label": "M11",
      "text": "1978 c. 30."
    },
    {
      "type": "M",
      "label": "M12",
      "text": "1915 c. 89."
    },
    {
      "type": "M",
      "label": "M13",
      "text": "1916 c. 24."
    },
    {
      "type": "M",
      "label": "M14",
      "text": "1949 c. 47."
    },
    {
      "type": "M",
      "label": "M15",
      "text": "1955 c. 6. (4 & 5 Eliz. 2)."
    },
    {
      "type": "M",
      "label": "M16",
      "text": "1963 c. 25."
    },
    {
      "type": "M",
      "label": "M17",
      "text": "1958 c. 6. (7 & 8 Eliz. 2)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1972/65/section/15",
    "retrieved_at": "2026-10-29T10:48:31.549225+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}