Colonial Stock Act 1948
| Jurisdiction | UK Non-devolved |
| Citation | 1948 c. 1 |
Colonial Stock Act, 1948
(12, 13 & 14 Geo. 6.) CHAPTER 1
An Act to enable stock to which the Colonial Stock Act, 1877, applies to be made transferable by instrument in writing, and to provide for the extension of the Colonial Stock Acts, 1877 to 1934, to stock of Governments or authorities established for controlling or administering services or matters of common interest to the inhabitants of more than one of the colonies or territories to whose stock any of the said Acts apply or could be made applicable.
[16th December 1948]
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 Stock may be made transferable by instrument in writing.
(1) Regulations made under section sixteen of the Colonial Stock Act, 1877 , may, notwithstanding anything in that Act or in the Colonial Stock Act, 1892 , provide that the stock to which the regulations relate shall be transferable by instrument in writing in accordance with the regulations and in no other manner:
Provided that regulations shall not be made for the purpose specified in this subsection with respect to any stock unless authority for the making of regulations for that purpose has been given by a law of the legislature or other authority having power to make laws for the Dominion, colony or territory of whose public debt the stock forms part.
(2) This section applies as well to stock issued before, as to stock issued after, the passing of this Act, and, accordingly, in relation to stock issued before the passing of this Act, so much of the said section sixteen as requires regulations thereunder to be made before the issue of the stock shall not apply to regulations made for the purpose specified in subsection (1) of this section and the regulations, when made, shall have effect notwithstanding anything in any previous regulations applicable to the stock and notwithstanding anything in the terms on which the stock was issued.
2 Power to extend Colonial Stock Acts to stock of Governments and authorities operating in relation to two or more countries.
(1) His Majesty-may by Order in Council...
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