I9.424 Crown debts

I9.424 Crown debts

Crown debts, including government obligations incurred under statutory authority, whether under seal or under hand, are specialty debts1 (I9.423) even when they are secured by registered bonds2. Similarly, British Savings Bonds are (or are treated as) specialty debts, although no actual bonds are issued. This rule does not, however, apply to registered or inscribed stock issued by the British Government whose locality is determined by the place of registration3. National savings certificates and Income Bonds, and Premium Bonds fall within this category. If the debt is not a marketable security,

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial