
1 
These regulations may be cited as the Local Authority (Stocks and Bonds) (Amendment) Regulations 1983 and shall come into operation on 6th May 1983.
2 
In these regulations “the principal regulations” means the Local Authority (Stocks and Bonds) Regulations 1974.
3 
In regulation 2 of the principal regulations, after the word “interest” in item (c)—
(a) the semi-colon shall be deleted, and
(b) there shall be inserted the words “, whether fixed or variable;”.
4 
The following regulation shall be inserted after regulation 2 of the principal regulations:—“


2A 

(1) An application or tender for stock made in pursuance of a prospectus issued by or on behalf of a local authority shall not be revocable between—
(a) in the case of an application, the time specified in the prospectus for the opening of the application lists for the stock, or
(b) in the case of a tender, the time specified in the prospectus as the latest time by which tenders for the stock must be lodged,and 10 a.m. on the day following the second clear day thereafter.
(2) In reckoning any period for the purposes of paragraph (1) of this regulation, any day which is a Saturday or Sunday or which is a bank holiday in any part of England and Wales shall be disregarded.
”.

5 
In regulation 3 of the principal regulations—
(a) in paragraph (1), after the word “rate” there shall be inserted the words “(whether fixed or variable)”; and
(b) in paragraph (2), after the word “interest” there shall be inserted the words “(whether fixed or variable)”.
6 
In regulation 5 of the principal regulations—
(a) the full stop at the end of paragraph (1) shall be deleted and a semi-colon shall be substituted therefor, and
(b) after the said semi-colon there shall be inserted the words “but he shall not be required to enter the names and addresses of more than four persons as joint holders of any stock or bonds.”.
7 
In regulation 6, paragraph (1), of the principal regulations—
(a) after the word “interest” in item (g)—
(i) the semi-colon shall be deleted, and
(ii) there shall be inserted the words “or, in the case of stock or bonds bearing interest at a variable rate, the procedure by which the current interest rate is determined;”; and
(b) after the words “payable” in item (h)—
(i) the semi-colon shall be deleted, and
(ii) there shall be inserted the words “or, in the case of stock or bonds bearing interest at a variable rate, the procedure by which the dates for payment are determined;”.
8 
In regulation 7 of the principal regulations—
(a) the full stop shall be deleted and a semi-colon shall be substituted therefor, and
(b) after the said semi-colon, there shall be inserted the words “and any instrument which the registrar shall retain in accordance with that power may be destroyed at any time following the expiration of thirty years after the date of entry in the register of such particulars as are necessary to show the effect of the instrument.”.
Tom King
Secretary of State for the Environment
18th March 1983We consent to these regulations,
Alastair Goodlad
Donald Thompson
Two of the Lords Commissioners of Her Majesty's Treasury
28th March 1983