S.I. No. 292/1970:

GOVERNMENT LOANS (CONVERSION) REGULATIONS, 1970.

GOVERNMENT LOANS (CONVERSION) REGULATIONS, 1970.

I, SEOIRSE Ó COLLA, Minister for Finance, in exercise of the powers conferred on me by section 9 of the Government Loans (Conversion) Act, 1951 (No. 12 of 1951), hereby make the following regulations:

1. These Regulations may be cited as the Government Loans (Conversion) Regulations, 1970.

2. In these Regulations--

"the bank" means the Bank of Ireland;

"application" means an application under section 3 (1) of the Government Loans (Conversion) Act, 1951 (No. 12 of 1951), for conversion of stock of a Government loans to which these Regulations apply.

3. These Regulations apply to the following Government loans:

( a ) the 3½% Exchequer Bonds, 1965-70,

( b ) the 3½% Fourth National Loan, 1950-70, and

( c ) the 3% Exchequer Bonds, 1965-70.

4. Every application--

( a ) shall be made on the appropriate form supplied by the Bank or on a form to the like effect,

( b ) shall state the amount of the stock to which the application relates,

( c ) shall state the name, address and description of the person in whose name or of each of the persons in whose names such stock is standing in the books of the Bank, and also such further particulars of such stock as may be required by the Bank for the purpose of identifying such stock,

( d ) shall be accompanied by the relevant registration certificate or certificates, and

( e ) shall be delivered or sent by post to the Bank so as to be received on or before the 1st day of February, 1971, or such later date as the Bank may allow in any particular case.

5. Where an application is made by a corporate body (whether alone or jointly), the application shall be sealed with the common seal of the corporate body affixed to the application in accordance with the regulations of the corporate body governing the use of the common seal.

6. (1) An application in respect of stock which is standing in the books of the Bank in the names of two or more persons may be made--

( a ) if all of those persons are alive by a majority of them,

( b ) if one or more but not all of those persons is or are dead, by the sole survivor or a majority of the survivors, or

( c ) if all those persons are dead, by the personal representative or a majority of the personal representatives of the last survivor.

(2) An application in respect of stock which is standing in the books of the Bank in the name of one person only may, if that person is dead, be made by the personal representative or a majority of the personal representatives of that person.

(3) An application in respect of stock in relation to which a notice in lieu of distringas is in force may be made by the person who would be entitled to make the application if no such notice had been served, but nothing in this Regulation shall relieve the Bank from the obligations (if any) in relation to the application imposed on the Bank by the notice.

7. Where a person, in whose name, either alone or jointly, any stock of a Government loan to which these Regulations apply is standing, is under any disability mentioned in the Schedule to these Regulations, an application in respect of the stock may be made on his behalf by the appropriate applicant specified in that Schedule, and such applicant may apply either alone or jointly (including jointly as constituting a majority), as the case may require.

8. Nothing contained in or done in pursuance of these Regulations shall operate to affect the Bank with notice of any trust.

SCHEDULE

GIVEN under my Official Seal, this 9th day of December, 1970.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations prescribe the manner in which applications for the conversion of the 3½% Exchequer Bonds, 1965-70, the 3½% Fourth National Loan, 1950-70, and the 3% Exchequer Bonds 1965-70, are to be made.