ADMINISTRATIVE AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1964 - SECT 3 Power of Ministry of Finance to make regulations with respect to certain securities.

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ADMINISTRATIVE AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1964 - SECT 3

Power of Ministry of Finance to make regulations with respect to certain securities.

3.(1) Where the Ministry of Finance (in this section referred to as "the
Ministry") in exercise of the power conferred on it by section 11(1)(c) of the
Exchequer and Financial Provisions Act (Northern Ireland) 1950 by order
creates, or has by order created, any security to which this section applies,
the Ministry may by regulations make provision for such matters relating to
the administration of that security as to the Ministry may appear proper.

(2) Without prejudice to the generality of subsection (1), regulations made
thereunder may make provision for any matter for which provision may be made
by the Treasury of the United Kingdom under section 12 of the National Debt
Act 1958 as respects money raised through the Post Office.

(3) Regulations made under subsection (1) with respect to any security issued
prior to the commencement of this Act may amend any provision of the order by
which that security was created other than a provision prescribing the rate of
interest, terms of issue, or terms of redemption or repayment of that
security.

(4) Regulations made under sub-section (1) may contain a provision directing
that all or any of those regulations shall, with such modifications as appear
necessary or expedient, apply and be deemed always to have applied as respects
any securities specified in the regulations which were issued before the date
on which the regulations come into force as they apply to securities issued
after that date.

(5) This section applies to any non-transferable security (except Ulster
Savings Certificates) the register of which is maintained only by the
Ministry, and for the purposes of this subsection a security which may be
transferred only with the consent of the Ministry is a non-transferable
security.

(6) Regulations made under subsection (1) shall be subject to negative
resolution.

S.4 rep. by 1971 c.17 (NI) s.30 sch.4. S.5 rep. by 1968 c.21 (NI) s.9(1)
sch.2. S.6 rep. by 1966 c.28 (NI) s.42(3) sch.7. S.7 rep. by 1971 c.2 (NI)
s.47 sch.4. S.8 spent. Ss.9, 10 rep. by SLR 1976

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Northern Irish Legislation

ADMINISTRATIVE AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1964 - SECT 3