The Local Authority (Stocks and Bonds) (Amendment) Regulations 1986
The Local Authority (Stocks and Bonds) Regulations 1974, as amended, regulate the manner in which stocks and bonds are issued by local authorities, the terms of issue and the manner of transfer and redemption. These regulations amend the definition of “local authority” in those regulations so as to include the Inner London Education Authority, joint authorities and residuary bodies established by the Local Government Act 1985, and authorities established by the Waste Regulation and Disposal (Authorities) Order 1985. They also provide that references to stocks or bonds issued by a local authority are to include references to stocks or bonds issued by an authority which was abolished by the Local Government Act 1985. The amendments also enable securities issued by or vested in the London Residuary Body to be transferred by exempt transfer under the Stock Transfer Act 1982.