{
  "url": "https://openlegislation.uk/trustee-investments-act-1961/schedule-FIRST/part-IV/paragraph-4",
  "json_url": "https://openlegislation.uk/trustee-investments-act-1961/schedule-FIRST/part-IV/paragraph-4.json",
  "legislation": "ukpga/Eliz2/9-10/62",
  "legislation_title": "Trustee Investments Act 1961",
  "legislation_url": "https://openlegislation.uk/trustee-investments-act-1961",
  "path": "schedule/FIRST/part/IV/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": null,
  "text": "In this Schedule, unless the context otherwise requires, the following expressions have the meanings hereby respectively assigned to them, that is to say—\n“debenture” includes debenture stock and bonds, whether constituting a charge on assets or not, and loan stock or notes;\n“enactment” includes an enactment of the Parliament of Northern Ireland;\n“fixed-interest securities” means securities which under their terms of issue bear a fixed rate of interest;\n“local authority” in relation to the United Kingdom, means any of the following authorities—\n(a)in England and Wales, the council of a county, a county borough, a . . . borough . . . , an urban or rural district or a parish, the Common Council of the City of London the Greater London Council and the Council of the Isles of Scilly;\n(b)in Scotland, a local authority within the meaning of the Local Government (Scotland) Act, 1947;\n(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n“mutual investment society” means a credit institution which operates on mutual principles and which is authorised by the appropriate supervisory authority of a relevant state;\n“relevant money market” means a money market which is supervised by the central bank or a government agency of a relevant state;\n“relevant state” means Austria, Finland, Iceland, Liechtenstein,Norway, Sweden or a member state other than the United Kingdom;\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n“securities” includes shares, debentures units within paragraph 3 or 6 of Part III of this Schedule, Treasury Bills and Tax Reserve Certificates;\n“share” includes stock;\n“Treasury Bills” includes . . . bills issued by Her Majesty’s Government in the United Kingdom and Northern Ireland Treasury Bills.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 1 Pt. IV para. 4 inserted (1.4.1996) by 1994 c. 19, s. 66(6), Sch. 16 para. 19(2)(with ss. 54(7), 66(7), Sch. 17 paras. 22, 23(2)); S.I. 1996/396, art. 4, Sch.2"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words repealed by London Government Act 1963 (c. 33, SIF 81:1), Sch. 18 Pt. II"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words repealed by Local Government Act 1972 (c. 70, SIF 81:1), s. 273(1)–(3), Sch. 30"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words inserted by London Government Act 1963 (c. 33, SIF 81:1), Sch. 17 para. 25"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Sub-para. (c) repealed by Statute Law (Repeals) Act 1981 (c. 19), s. 1(1), Sch. 1 Pt. V"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Definitions in Sch. 1 Pt. IV para. 4 inserted (22.8.1994) by S.I. 1994/1908, art. 3(6)(a)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in Sch. 1 Pt. IV para. 4 inserted (18.4.1995) by S.I. 1995/768, art. 2"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Definitions repealed by Trustee Savings Banks Act 1976 (c. 4, SIF 110), s. 36(2), Sch. 6"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words inserted by Financial Services Act 1986 (c. 60, SIF 69), s. 212(2), Sch. 16 para. 2(d)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in Sch. 1 Pt. IV para. 4 inserted (22.8.1994) by S.I. 1994/1908, art. 3(6)(b)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words repealed by National Loans Act 1968 (c. 13, SIF 99:3), Sch. 6 Pt. I"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "1947 c. 43(81:2, 103:2)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Sch. 1 Pt. IV para. 4 extended (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), reg. 1(1), Sch. 2 para. 3(a)"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "By virtue of Local Government (Scotland) Act 1973 (c. 65, SIF 81:2), s. 214(1), Sch. 27 Pt. I para. 1(2) it is provided that the reference to a local authority within the meaning of the 1947 Act shall be construed as a reference to a local authority within the meaning of Local Government (Scotland) Act 1973 (c. 65, SIF 81:2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/Eliz2/9-10/62/schedule/FIRST/part/IV/paragraph/4",
    "retrieved_at": "2026-11-05T03:40:09.020529+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."
}