GOVERNMENT STOCK ACT 1912 Reprinted as in force on 27 June 1995 Reprint No. 1 > TABLE OF PROVISIONS Contents 1. Short title 2. Interpretation 3. Issue of government stock authorised 4. Rate of interest 5. Application of Government Loan Acts Endnotes - LONG TITLE An Act to authorise the raising of money under any Government Loan Act by the issue from time to time of short-dated treasury bills, debentures, or other form of government securities, as and when occasion may arise 1 Short title This Act may be cited as the Government Stock Act 1912. 2 Interpretation For the purposes of this Act-- government stock means debentures, treasury bills, and any other form of government stock or securities having a currency not exceeding 5 years from the date of the issue thereof, and bearing interest at a rate not exceeding 4% per annum. 3 Issue of government stock authorised (1) Where under any Government Loan Act already passed (if the whole of the sums authorised to be borrowed thereunder have not already been borrowed), or under any future Government Loan Act, a date is fixed not later than which all sums borrowed under the authority of the said Acts respectively shall be repayable, it shall be lawful for the Governor in Council, from time to time as occasion may arise, to cause government stock to be issued under this Act and under any of the aforesaid Acts to be specified, and from time to time, as and when such government stock becomes repayable, to repay the amount thereof and reissue the same or any part thereof, and so from time to time as may be deemed desirable. (2) However-- (a) the date on which the last issue of such government stock shall become repayable shall not be later than the date prescribed by the Government Loan Act under which such stock is issued as the latest date on which all sums borrowed thereunder shall be repayable; (b) government stock issued under this Act shall, until repayment, be deemed to be part of the sum authorised to be borrowed by the Government Loan Act under which such government stock has been issued. 4 Rate of interest It shall be lawful to issue government stock under this Act bearing interest at a rate not exceeding 4% per annum, notwithstanding that by the Government Loan Act under which such stock is declared to be issued the rate of interest authorised to be paid is less than the aforesaid amount. 5 Application of Government Loan Acts (1) Government stock issued under this Act and under a specified Government Loan Act shall be subject in all respects to the provisions of the said Government Loan Act, except in so far as those provisions are modified by this Act. (2) The provisions of any Government Loan Act establishing a sinking fund in respect of the loan to be borrowed thereunder shall not apply to government stock issued under this Act. - NOTES Page Date to which amendments incorporated 5 Key 5 Table of reprints 6 List of legislation 6 Table of renumbered provisions 6 This is the reprint date mentioned in the Reprints Act 1992, section 5(c). However, no amendments have commenced operation on or before that day. Future amendments of the Government Stock Act 1912 may be made in accordance with this reprint under the Reprints Act 1992, section 49. Key Explanation Key Explanation AIA = Acts Interpretation Act 1954 (prev) = previously amd = amended proc = proclamation amdt = amendment prov = provision ch = chapter pt = part def = definition pubd = published div = division R[X] = Reprint No. [X] exp = expires/expired RA = Reprints Act 1992 gaz = gazette reloc = relocated hdg = heading renum = renumbered ins = inserted rep = repealed lap = lapsed (retro) = retrospectively notfd = notified rv = revised edition num = numbered s = section o in c = order in council sch = schedule om = omitted sdiv = subdivision orig = original SIA = Statutory Instruments Act 1992 p = page SIR = Statutory Instruments Regulation 2002 para = paragraph SL = subordinate legislation prec = preceding sub = substituted pres = present unnum = unnumbered Reprint No. Amendments to Effective Reprint date 1 none 9 July 1912 27 June 1995 Previous Renumbered as 3 3(1) 3, proviso 3(2) 3(i) 3(2)(a) 3(ii) 3(2)(b) >