13. Where, in accordance with the terms of any prospectus relating to the issue of any stock, or in accordance with any directions of the Treasury, stock may be converted into or exchanged for stock of another issue, the conversion or exchange shall, subject to the terms of the prospectus, be effected in such manner as the Treasury may direct, and for the purpose of giving effect to any such directions the Director of Savings may require the delivery to him of any document relating to the stock to be converted or exchanged.
14.—(1) Subject to the provisions of Schedule 3 to the Finance Act 1921, the redemption of stock which has become redeemable shall be effected in such manner as the Treasury may direct.
(2) Subject as aforesaid, application for—
(a)the redemption of any stock, or
(b)repayment before the redemption date of any stock which is not of a description corresponding to stock or securities transferable in the books of the Bank of England,
shall be made by sending to the Director of Savings an application in writing in the approved from together with any certificate or subscription book relating to the stock to be redeemed or repaid.