City of London (Various Powers) Act 1944
| Jurisdiction | UK Non-devolved |
| Citation | 1944 c. iv |
| Year | 1944 |
GEO.
6.
City
of
London (Various Powers)
€Sh;iv.
Act, 1944.
CHAPTER iv.
An Act to make provision with respect to the mode of
transfer of stocks of the Corporation of London to
apply stock regulations to all stocks of the Corpora-
tion and for other purposes. [10th May 1944.]
W
HEREAS the mayor and commonalty and citizens of.
the city of London acting by the mayor aldermen
and commons of that city in common council assembled (in
this Act referred to as " the Corporation ") have from time
to time issued stock commonly known as inscribed stock
which is transferable by entry in books:
And whereas by the Government and other Stocks (Emer- 2 &
3
Ge°.
6.
gency Provisions) Act 1939 the mode of transfer of stock by c-100'
entry in any books or registers kept in Great Britain was sus-
pended and stock so transferable up to the passing of the said
Act became for the period of the present emergency transfer-
able by instrument in writing:
And whereas it is expedient that such temporary provision
should be made permanent and that all stocks of the Corpora-
tion should be transferable by deed and in no other manner:
And whereas it is expedient that all stocks of the Corpora-
tion should be regulated by stock regulations as provided by
this Act:
And whereas it is expedient that the powers of the Corpora-
tion to appoint committees and to delegate functions to such
committees should be enlarged as provided by this Act:
And whereas it is expedient that the other provisions in
this Act contained should be enacted:
And whereas the objects of this Act cannot be attained
without the authority of Parliament:
A i
Ch. iv.
City
of
London (Various Powers)
7
&
8
GEO.
6.
Act, 1944.
Short title.
Interpreta-
tion.
1 Edw. 8. &
1
Geo. 6.
z. xlv.
38 & 39 Vict.
c. 83.
Transfer of
inscribed
stock.
May it therefore please Your Majesty that it may be enacted
and be it enacted by the King's most Excellent Majesty by
and with the advice and consent of the Lords Spiritual and
Temporal and Commons in this present Parliament assembled
and by the authority of the same as follows (that is to
say):
—
1.
This Act may be cited as the City of London (Various
Powers) Act 1944.
2.
In this Act unless there be something in the subject or
context repugnant to such construction—
" the city " means the city of London;
" the Corporation " means the mayor and commonalty
and citizens of the city acting by the mayor alder-
men and commons of the city in common council
assembled;
" the common council " means the mayor aldermen and
commons of the city in common council assembled;
" the Act of 1937 " means the City of London (Various
Powers) Act 1937;
" stock " means all stock of the Corporation whether
created and issued under the Local Loans Act 1875
or the Act of 1937 or constituted and secured by trust
deed and includes debenture stock;
" inscribed stock " means all stock which if the Govern-
ment and other Stocks (Emergency Provisions) Act
1939 had not been passed would be transferable in
law by entry in books;
" the appointed day " means the first day of September
one thousand nine hundred and forty-four;
" the registrar " means the registrar appointed by the
Corporation pursuant to the Corporation of London
(Stock) Regulations 1937 or otherwise.
3.—(1)
On and after the appointed day—
(a) inscribed stock shall cease to be transferable in law
by entry in books but shall be transferable in law by
deed and in no other manner;
(b) a transfer of inscribed stock shall be made in accord-
ance with article 18 (Mode of transfer) of the Cor-
poration of London (Stock) Regulations 1944 set
forth in the schedule to this Act save that the
delivery up of the old stock certificate shall not be
required as a condition of the transfer.
(2) An instrument of transfer of inscribed stock executed in
accordance with the provisions of the Government and other
2
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