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Electricity Act 1947

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2During the period beginning with the vesting date and ending immediately before the conversion date, the securities to which this Part of this Schedule applies shall, notwithstanding the dissolution of the bodies to whom Part II of this Act applies, continue to exist and may be transferred, and'the Central Authority shall keep the registers or other records of the holders of those securities, but the only rights which shall attach to those securities shall be—

(a)the right to have instead British Electricity Stock which attaches to the securities by virtue of the next following paragraph ; and

(b)the right to the payment of interest which attaches to the securities under paragraph 5 of this Part of this Schedule ;

and all other rights at aching to the securities shall, by virtue of this Act, be extinguished on the vesting date.

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