OpenLegislation

Regulation 15 Transfers

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

(1)

Application to make a transfer in the register of any stock shall be made by sending to the Director of Savings not less than ten days before the transfer is required to be completed an application in writing in the approved form together with any certificate or subscription book relating to the stock.

(2)

No instrument of transfer in connection with the transfer of stock shall be required to be under seal.

(3)

The transferor of an amount of stock shall be deemed to remain the holder thereof until the Director of Savings has given effect to the transfer and the death of the applicant shall not of itself determine the authority given by the applicant for the transfer to be made; but if the Director of Savings receives notice before the transfer is effected that the applicant has died, the transfer shall not be made.

(4)

Stock which is not of a description corresponding to stock or securities transferable in the books of the Bank of England shall not be transferable except with the consent of the Director of Savings.