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National Debt Act 1870
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- UK Public General Acts
- 1870 c. 71 (Regnal. 33_and_34_Vict)
- Part III
- Payment of Dividends
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Changes over time for: Cross Heading: Payment of Dividends
Version Superseded: 01/07/2004
Alternative versions:
- 01/02/1991- Amendment
- 28/10/2002- Amendment
- 28/10/2002
Point in time - 01/07/2004- Amendment
- 15/11/2004- Amendment
Status:
Point in time view as at 28/10/2002.
Changes to legislation:
There are currently no known outstanding effects for the National Debt Act 1870, Cross Heading: Payment of Dividends.
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Payment of DividendsU.K.
12 Money for payment to be issuable.U.K.
Sufficient money to pay the dividends on all stock, with the charges attending the same, shall continue to be from time to time issuable for that purpose out of the [F1National Loans Fund].
Textual Amendments
F1Words substituted by National Loans Act 1968 (c. 13), Sch. 5
13 Banks to have chief cashier and accountant general.U.K.
Until all stock is redeemed, [F2the Bank of England shall] continue to employ within their office a fit person as their chief cashier, and another fit person as their accountant general.
Textual Amendments
F2Words in s. 13 substituted (28.10.2002) by The Irish Registers of Government Stock (Closure and Transfer) Order 2002 (S.I. 2002/2521), arts. 1(2), 2(1), Sch. 1 para. 1(a) (with art. 9)
14 Issue by Treasury.U.K.
The money from time to time and at any time issuable out of the [F3National Loans Fund] and by this Act made applicable to the payment of the dividends on stock, shall, by order of the Treasury, without other warrant, from time to time be issued and paid to the [F4chief cashier of the Bank of England] by way of imprest and on account for the payment of those dividends.
Textual Amendments
F3Words substituted by National Loans Act 1968 (c. 13), Sch. 5
F4Words in s. 14 substituted (28.10.2002) by The Irish Registers of Government Stock (Closure and Transfer) Order 2002 (S.I. 2002/2521), arts. 1(2), 2(1), Sch. 1 para. 1(b) (with art. 9)
Modifications etc. (not altering text)
C1S. 14 modified (29.4.1996) by 1988 c. 1, s. 118E(2)(a) (as inserted (29.4.1996) by 1996 c. 8, s. 156, Sch. 29 Pt. I para. 1)
15 Application of issues by cashier.U.K.
The chief cashier to whom money is from time to time so issued shall from time to time without delay apply the same in payment of the dividends on stock.
16 Accounting by cashier, &c.U.K.
The chief cashier to whom money is so issued shall from time to time render his accounts thereof, and the same shall be audited, as the Treasury from time to time direct; but the Treasury may, if they think fit, dispense with such audit.
[F5All receipts and payments of the chief cashier of the Bank of England shall from time to time be examined], in order to prevent fraud, negligence, or delay.
Textual Amendments
F5Words in s. 16 substituted (28.10.2002) by The Irish Registers of Government Stock (Closure and Transfer) Order 2002 (S.I. 2002/2521), arts. 1(2), 2(1), Sch. 1 para. 1(c) (with art. 9)
17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6U.K.
Textual Amendments
F6Ss. 7 - 10, 17 repealed by Statute Law Revision Act 1950 (c. 6)
18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7U.K.
Textual Amendments
F7S. 18 repealed by Statute Law Revision Act 1966 (c. 5)
19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8U.K.
Textual Amendments
F8S. 19 repealed by Statute Law Revision Act 1950 (c. 6)
20–21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9U.K.
Textual Amendments
F9Ss. 20, 21 repealed by National Debt Act 1889 (c. 6), s. 6
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