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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 It is not necessarily in the form in which it was originally enacted but is a revised version, which means that any subsequent amendments to the text and other effects are incorporated with annotations.
An Act to confer on the Treasury powers to raise money and exchange securities, and for purposes connected therewith.
[16th November 1939]
C1Act extended by Transport Act 1962 (c. 46), s. 36(3) and Air Corporations Act 1966 (c. 11), Sch. 1 para. 2; amended by Finance Act 1956 (c. 54), s. 43(2)
F1S. 2 repealed by National Loans Act 1968 (c. 13), s. 14(10), Sch. 6 Pt. I
(1)Securities issued under this Act shall bear such rate of interest, and be subject to such conditions as to repayment, redemption and other matters (including provision for a sinking fund), as the Treasury may determine.
(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
(3)The principal of and interest on any securities issued under this Act, and any sums required to be set aside for the purpose of any sinking fund established under this Act, and any expenses incurred in connection with the raising of money or the issue or redemption of securities under this Act, shall be charged on and issued out of [F2the National Loans Fund, with recourse to] the Consolidated Fund.
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3
(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4
(6)The provisions of the Second Schedule to this Act shall have effect with respect to any securities issued under this Act.
F1S. 3(2) repealed by National Loans Act 1968 (c. 13), Sch. 6 Pt. I
F2Words inserted by National Loans Act 1968 (c. 13), Sch. 5
F3S. 3(4) repealed by Finance Act 1954 (2 & 3 Eliz. 2 c. 44), Sch. 6
F4S. 3(5) repealed by National Loans Act 1968 (c. 13), Sch. 6 Pt. I
F1S. 4 repealed by National Loans Act 1968 (c. 13), s. 13(5), Sch. 6 Pt. I, but not so as to invalidate anything done before 1.4.1968
(1)This Act may be cited as the National Loans Act 1939.
(2)Any reference in this Act to any other enactment shall be construed, unless the context otherwise requires, as a reference to that enactment as amended by any subsequent enactment.
(3)It is hereby declared that this Act extends to Northern Ireland.
(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1
National Loans Act 1939 (c.117)