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.