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This version of this statute is extracted from the UK Statute Law Database (SLD). It is not necessarily in the form in which it was originally enacted but is a revised version, which means that any subsequent amendments to the text and other effects are incorporated with annotations.
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An Act to make further Provision respecting certain payments to and from the Bank of England, and to increase the Facilities for the Transfer of Stocks and Annuities, and for other Purposes.
[22nd March 1861]
C1Short title given by Short Titles Act 1896 (c. 14)
C2Preamble omitted under authority of Statute Law Revision Act 1892 (c. 19)
F1S. 4 repealed by Statute Law Revision Act 1892 (c. 19) and Currency and Bank Notes Act 1928 (c. 13), Sch.
Whenever the balances in the hands of the Governor and Company of the Bank of England of sums issued for the payment of dividends and terminable annuities on account of the National Debt due and not demanded are reduced to a less sum than one hundred thousand pounds, the said Governor and Company shall certify the amount of deficiency to the Commissioners of the Treasury, and the Commissioners shall as often as they may judge expedient direct the issue out of the [F1National Loans Fund] of a sum not exceeding the amount required to raise the said balances to the sum of one hundred thousand pounds; and within thirty days after the expiration of every quarter an account shall be taken of the lowest amount of the balances in the hands of the said Governor and Company on the same account; and it shall be lawful for the Treasury, if they think fit, to require the Bank of England to repay to the account of the Comptroller of the Exchequer opened in the books of the said Bank any sum by which the said balances may exceed one hundred thousand pounds.
F1Words substituted by National Loans Act 1968 (c. 13), Sch. 5
C1Functions of Comptroller of the Exchequer now exercisable by Comptroller and Auditor General: Exchequer and Audit Departments Act 1866 (c. 39), s. 5
Bank of England Act 1861