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Section 91: Electricity Stock.

Electricity Act 1989 · 1989 c. 29View on legislation.gov.uk

Part II: REORGANISATION OF THE INDUSTRY

On the transfer date all the rights and liabilities —

to which the Electricity Council was entitled or subject immediately before that date under the terms of issue of British Electricity Stock; or
to which the North of Scotland Hydro-Electric Board was entitled or subject immediately before that date under the terms of issue of North of Scotland Electricity Stock,

shall become by virtue of this section rights and liabilities of the Treasury.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The Bank of England shall deal with—

money paid to them under subsection (2) above; and
money already in their hands which represents such unclaimed interest or redemption money as is mentioned in that subsection,

as money entrusted to them for payment to holders of the Stock concerned and section 5 of the Miscellaneous Financial Provisions Act 1955 (which relates to unclaimed dividends etc. on Government Stock) shall apply accordingly.

In this section—

  • "British Electricity Stock" means any stock created and issued under section 16(1) of the Electricity Act 1957 or under section 40 of the Electricity Act 1947;

  • "North of Scotland Electricity Stock" means any stock created and issued under section 13 of the Hydro-Electric Development (Scotland) Act 1943.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.