Regulation 16 Subscription for stockI1
United Kingdom
The Director of Savings may accept subscriptions for stock of any issue directed by the Treasury to be registered, within the periods and subject to the conditions authorised by the Treasury.
An application to subscribe for stock must be made in the approved form, and the applicant must provide any documents or other information required by the Director of Savings.
In relation to variable interest stock—
the conditions must state that the Treasury may amend the authorised conditions at any time after a subscription for stock; and
the amendment of a condition that is to the detriment of a stock holder may only be made after at least 30 days’ notice has been given to the stock holder.
Paragraph (3) applies to variable interest stock issued on or after the date these Regulations come into force.
Annotations
Commencement
- I1
Reg. 16 in force at 6.4.2015, see reg. 1(1)