The National Savings Stock Register (Amendment) Regulations 2014

Fecha Entrada en Vigor:Coming into force on the 26/12/2014
Nº documento:2014 No. 3214
 
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Statutory Instruments

National Debt

Made

4 th December 2014

Laid before Parliament

5 th December 2014

Coming into force

26 th December 2014

The Treasury make the following Regulations in exercise of the powers conferred by section 3 of the National Debt Act 1972(1):

Citation and Commencement

  1.   These Regulations may be cited as the National Savings Stock Register (Amendment) Regulations 2014 and come into force on 26 th December 2014.

    Amendment of the National Savings Stock Register Regulations 1976

  2.   (1)  Regulation 28 (application by holders of stock to be described in register as trustees) of the National Savings Stock Register Regulations 1976(2) is amended as follows.

    (2) At the beginning of paragraph (1) insert “Subject to paragraph (1 A) ,”

    (3) After paragraph (1) insert-

    “(1 A) But the Director need not make any such entry where the stock in question is not stock of a kind that may be held on trust.”

    David Evennett

    Alun Cairns

    Two of the Lords Commissioners of Her Majesty’s Treasury

    4 th December 2014

    EXPLANATORY NOTE

    (This note is not part of the Regulations)

    These Regulations amend the National Savings Stock Register Regulations 1976 to make clear that there is no obligation on the Director of Savings to describe a person holding stock in the register as a trustee where the stock in question is not stock that is capable of being held on trust.

    An impact assessment has not been produced for this instrument as no significant impact on the costs of business or the voluntary sector is foreseen.

    1972 c. 65; section 3 was amended by the Trustee Savings Bank Act 1976 (c. 4) , Schedule 5 , paragraph...

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