Title and introductory text
National Debt (Conversion) Act 1888 1888 c. 2 An Act for reducing the Rate of Interest on the National Debt. [27th March 1888]
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National Debt (Conversion) Act 1888
United Kingdom · statute
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In force since 2015-03-26, as the publisher states.
Copy read on 2026-11-09. The page it was read from
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.
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Contents: 20 provisions
- Title and introductory text
- 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 2 Denomination and incidents of new stock.
- 3-7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 8-10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 11-13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 20-24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 33 Short title.
Proposed changes to this act
No one has proposed a change to this act yet.
20 provisions
1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change2 Denomination and incidents of new stock.
(1) The new stock shall consist of a capital stock of perpetual annuities, which shall . . . yield dividends at the rate of two pounds 50p per cent. per annum. (2) The new stock . . . shall be redeemable by Parliament on such notice, at such time or times, and either in one sum or in such sums or proportions, and in such order and manner as Parliament may direct, at the rate of one hundred pounds sterling for every one hundred pounds of the capital sums in respect of which the annuities constituting the stock are payable, together with the payment of all arrears of those annuities, including the proportionate part accrued since the last date for payment of dividends. (3) The new stock shall form part of the National Debt, and the annuities constituting the same shall be payable by equal quarterly dividends on the fifth day of January, the fifth day of April, the fifth day of July, and the fifth day of October in every year . . . (4) The new stock shall be called . . . two and a half per cent. consolidated stock. (5) The dividends on the new stock shall be charged on the National Loans Fund with recourse to the Consolidated Fund of the United Kingdom . . . , and the provisions of the National Debt Act 1870, shall apply in the same manner, so far as is consistent with this Act, as if the new stock were one of the stocks of perpetual annuities described in the First Schedule to the National Debt Act 1870, . . .
Propose a change3-7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change8-10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change11-13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change17 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change18 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change19 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change20-24 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Propose a change33 Short title.
This Act may be cited as the National Debt (Conversion) Act 1888.
Propose a change