Paragraph 1 I1

In section 3 of the National Debt Act 1870^f1, for the definition of “Stockholder” there shall be substituted—

• ““Stockholder” means a person holding stock, being entered as such in—

  1. (a)

     a register kept by the Bank of England or the Bank of Ireland under regulation 1 of the Government Stock Regulations 1965; or

  2. (b)

     a register kept by the Operator of a relevant system under the Uncertificated Securities Regulations 2001 (and “Operator” and “relevant system” shall have the same meanings as they have in those Regulations):”.