Section 136 | Definition of Government Stock.

(1)The descriptions of stock and bonds specified in Part I of Schedule 11 to the Finance Act 1942 (description of Government stock and bonds to which the provisions of that Act regarding transfer and registration apply, and which by virtue of section 16(3) of the National Loans Act 1968 include descriptions of certain securities issued under that Act) do not include—

(a)any securities (of whatever series) of any of the descriptions specified in subsection (2) below issued before 20th July 1998, or

(b)any securities issued on or after 20th July 1998 under the auspices of the Director of Savings.

(2)The descriptions referred to in subsection (1) are—

Defence Bonds;

National Development Bonds;

British Savings Bonds;

National Savings Indexed Income Bonds;

National Savings Income Bonds;

National Savings Deposit Bonds;

National Savings Capital Bonds;

Children’s Bonus Bonds;

National Savings FIRST Option Bonds;

National Savings Pensioners Guaranteed Income Bonds.

(3)The modifications made by this section shall be deemed always to have had effect.