War Loan Act 1916
| Jurisdiction | UK Non-devolved |
| Citation | 1916 c. 67 |
| Year | 1916 |
War Loan Act, 1916
(6 & 7 Geo. 5.) CHAPTER 67.
An Act to make further provision for raising Money for the present War, and for purposes incidental thereto.
[22nd December 1916]
Most Gracious Sovereign,
We , Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom of Great Britain and Ireland in Parliament assembled, towards raising the necessary supplies granted to Your Majesty, have resolved that money be raised in manner provided by this Act; and do therefore most humbly beseech Your Majesty that it may be enacted; and 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 Issue of new war loan.
(1) Any money required for the raising of any supply granted to His Majesty for the service of the year ending the thirty-first day of March nineteen hundred and seventeen, and, in addition, of a sum not exceeding two hundred and fifty million pounds, or for the raising of any sums required for cancelling securities or Treasury bills under the powers of this Act, may be raised in such manner as the Treasury think fit, and for that purpose they may create and issue any securities by means of which any public loan has been raised or may be raised, or such other securities bearing such rate of interest and subject to such conditions as to repayment, redemption, or otherwise, as they think fit.
(2) For the purpose of making the statutory provisions applicable to former war loans applicable to the war loan under this Act, subsections (2) and (3) of section one of the War Loan Act, 1914 and (3) of section fourteen of the Finance Act, 1914 (Session 2), shall apply to any sums or loan raised or any securities issued under this Act as they apply to sums or loans raised or stock issued under the War Loan Act, 1914 ; and subsections (3), (4), and (5) of section one of the War Loan Act, 1915, shall apply with respect to the issue of securities under this Act and to securities issued under this Act as they apply with respect to the issue of securities under that Act and to securities issued under that Act; and in those subsections as so applied any reference to war stock, war bonds, or securities issued under the War Loan Act, 1914, shall be deemed to include a reference to securities issued under the War Loan Act, 1915 , and section fifty-eight of...
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