Paragraph 3
United Kingdom
Loans repayable either on demand or not later than the expiration of the period of fourteen days beginning with the day next following that on which notice is given to the borrower requiring repayment, being loans in the case of each of which the following condition is satisfied on each day on which it is outstanding, that is to say, that it is secured on one or more of the following, namely,—
Treasury bills and bills of Her Majesty’s Government in Northern Ireland;
accepted and transferable bills of exchange payable at a fixed period after date or sight expiring before the end of the fifth anniversary of that day;
marketable fixed interest securities issued by Her Majesty’s Government in the United Kingdom, Her Majesty’s Government in Northern Ireland or the Government of the Isle of Man, being securities redeemable (otherwise than at the option of the issuer thereof) before the end of that anniversary;
marketable fixed interest securities in the case of which the payment of interest thereon is guaranteed by Her Majesty’s Government in the United Kingdom, Her Majesty’s Government in Northern Ireland or the Government of the Isle of Man, being securities redeemable (otherwise than at the option of the issuer thereof) before the end of that anniversary.
Notes on the whole Act
Textual amendments
- F1
Act repealed in part (Isle of Man) (22.7.2004) by Statute Law (Repeals) Act 2004 (c. 14), Sch. 1 Pt. 17 Group 11(5)
Notes on Schedule 2
Textual amendments
- F1
Sch. 2 repealed (26.3.2001) by 2000 c. 26, s. 127(6), Sch. 9; S.I. 2000/2957, art. 2(3), Sch. 3 Table