Colonial Stock Act 1934
Jurisdiction | UK Non-devolved |
Citation | 1934 c. 47 |
Year | 1934 |
Colonial Stock Act, 1934
(24 & 25 Geo. 5.) CHAPTER 47.
An Act to provide as respects Dominion Stocks an alternative to the third of the conditions prescribed by the Treasury under section two of the Colonial Stock Act, 1900.
[31st July 1934]
Be it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:—
1 Alternative to Treasury condition as respects Dominion Stocks.
(1) The third of the conditions prescribed by the order of the Treasury dated the sixth day of December, nineteen hundred, and made under section two of the Colonial Stock Act, 1900 (which provides that certain stocks with respect to which prescribed conditions have been observed shall be trustee securities), shall be deemed to have been observed with respect to any stock issued by the Government of a Dominion if either the requirement therein specified has been complied with, or if—
(a ) His Majesty's Government in the Dominion has undertaken that legislation which appears to His Majesty's Government in the United Kingdom to alter any of the provisions affecting the stock to the injury of stockholders or to involve a departure from the original contract in regard to the stock, shall not be submitted for the Royal Assent except after agreement with His Majesty's Government in the United Kingdom, and that if attention is drawn to any such legislation as aforesaid after the passing thereof by the Parliament of the Dominion, His Majesty's Government in the Dominion will take the necessary steps to ensure such amendment as may be requested by His Majesty's Government in the United Kingdom; and
(b ) that undertaking has been confirmed by an Act of the Parliament of the Dominion.
(2) In this Act the expression ‘Dominion’ has the same meaning as in the Statute of Westminster, 1931 .
2 Short title and citation.
2. This Act...
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