The National Savings Stock Register (Closure of Register to Gilts) Order 1998
This Order closes the National Savings Stock Register (“the Register”) to the registration of gilts on and after 20th July 1998, and provides for all gilts registered in that Register at the beginning of that day to be transferred to the books of the Bank of England (“the Bank”) (articles 3 and 4). “Gilts” is defined for the purposes of the Order as stock or bonds of any of the descriptions included in Part I of Schedule 11 to the Finance Act 1942 (which describes the stock and bonds that are registrable in the books of the Bank of England). The Order also transfers to the Bank all the rights and liabilities of the Director of Savings arising before 20th July 1998 in relation to the registration of gilts or any transaction associated with it (article 5).