The Gilt Strips (Consequential Amendments) Regulations 1997
These Regulations modify statutory provisions in consequence of arrangements to issue a new type of Government security called a “strip”. The arrangements will enable holders of Government securities which are declared strippable to exchange such a security for a number of different “strip” securities representing different payments (of interest or principal) remaining to be made under the original security. Such exchanges, and the terms on which strips are issued, will be contractual.