|
|
Commissioners for Reduction of National Debt may advance money on security of terminable annuities, &c.
|
8. The Commissioners for the Reduction of the National Debt may from time to time invest any moneys in their hands on account of savings banks and Post Office savings banks in the purchase of any of the securities created under the authority of this Act.
|
|
| |
If such investment be made in terminable annuities, the amount of annuity to be created in respect thereof shall be certified to the Treasury under the hands of the Comptroller General or Assistant Comptroller, and of the Actuary of the National Debt Office, acting under the said Commissioners for the Reduction of the National Debt.
|
|
| |
The annuities so created shall be inscribed in the books of the Bank of England, and be payable to the said Commissioners out of the Consolidated Fund, or the growing produce thereof, at such times in each year as may from time to time be fixed by the Treasury.
|
|
| |
The warrants of the Treasury issued under the authority of this Act shall be a sufficient authority to the Bank of England for doing the things thereby directed to ba done for the purposes of this Act, and copies of such warrants shall be laid before both Houses of Parliament, if Parliament is then sitting, within ten days after the respective dates thereof, and, if not sitting, within ten days after the next meeting of Parliament.
|
| |
Accounts.
|
