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WAR LOAN ACT 1919

WAR LOAN ACT 1919 - LONG TITLE

An Act to make further provision for raising Money for the present
War, and for purposes in connexion therewith; to authorise the
extension in certain cases of War Savings Certificates, and to make
further provision in relation to Government Securities.
[15th August 1919]
Preamble rep. by SLR 1927(3) The principal and interest of any
securities issued under this section, whether for the purpose of
raising money or for the purpose of exchange, and any sums required
to be set aside for the purposes of any sinking fund established
under this Act, and any expenses incurred in connexion with the
raising of money or the issue or exchange of securities under this
section, shall be charged on [the National Loans Fund with recourse
to] the Consolidated Fund of the United Kingdom ....

Subs.(4) rep. by 1957 c.20 s.14 sch.4 Pt.I; 1958 c.6 (7 Eliz.2)
s.17 sch.; subs.(5)(6) rep. by SLR 1963; 1968 c.13 s.24 sch.6 Pt.I

S.2 spent

Acceptance of securities in payment of death duties.

WAR LOAN ACT 1919 - SECT 3
Issue of new War Loan.

3.Subs.(1) rep. by SL(R) 1978

(2) The Treasury may by regulation provide

(a)for the opening of an account by the National Debt Commissioners
and for the transference to such account of securities issued under
the War Loans Acts, 1914 to 1918, and this Act, and accepted by
the Commissioners of Inland Revenue in payment of death duties; and

(b)for the manner in which any such securities are to be held,
cancelled, or dealt with;

(3) Any sums received by way of interest or repayment of principal
in respect of securities so transferred shall be applied by the
National Debt Commissioners to the above payments, and so far as
the amounts thus available are insufficient to meet such payments
the Treasury may issue out of and charge on the [National Loans
Fund] ... such sums as may be required to meet the deficiency; and
any balance in the hands of the National Debt Commissioners shall
be paid into the [National Loans Fund] as and when the Treasury
direct.

(4) The National Debt Commissioners shall keep such accounts of the
sinking funds provided under this Act, and of the transactions in
connexion with the securities held by them under the above
subsection, as the Treasury may from time to time direct, and those
accounts shall be submitted to the Comptroller and Auditor-General in
such form as the Treasury may from time to time direct and be
audited by him.

S.4 rep. by 1958 c.6 (7 Eliz.2) s.17 sch. S.5 rep. by SLR 1966.
S.6 rep. by SLR 1950

WAR LOAN ACT 1919 - SECT 7
Short title.

7. This Act may be cited as the War Loan Act, 1919, ....

Schedule spent