Section 16 Supplemental provisions as to national debt.

F1. . . in section 43(2) of the M1Finance Act 1956 (enactments relating to lotteries: saving for premium bonds under the M2National Loans Act 1939) the reference to the said Act of 1939 shall include a reference to this Act.

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Stock or registered bonds issued under this Act, other than premium savings bonds, shall be included in Part I of Schedule 11 to the M3Finance Act 1942 (transfer and registration of government stock).

Stock or registered bonds issued under this Act shall be subject to the provisions of the M4National Debt Act 1870 so far as is consistent with the tenor of this Act.

In subsections (3) and (4) above the references to stock or registered bonds issued under this Act include references to a strip (within the meaning of section 47 of the Finance Act 1942) of any stock or bond (whether the stock or bond is issued under this Act or otherwise).

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There shall be paid out to F6Registrar of Government Stock, . . . F7, such sums in respect of the management F8in any period of any Government securities as may be agreed upon between F9the Treasury and the Registrar of Government Stock .

In this subsection “Government securities” means securities of Her Majesty’s Government in the United Kingdom and securities issued under—

• F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .,

• the M5Irish Land Act 1903,

• the M6Irish Land Act 1909,

• the M7Northern Ireland Land Act 1925.

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Sums payable under subsection (7) above shall be met out of the National Loans Fund with recourse to the Consolidated Fund, except that—