Sec. 4. That issues in money may be made out of the Consolidated Fund on Savings Bank account on certificate from the National Debt Commissioners.
Sec. 5. That at least one half of the whole amount of securities held for Savings Banks, exclusive of the amount of the charge on the Consolidated Fund (Section 1), shall be parliamentary securities.
Sec. 6. That every year the National Debt Commissioners shall prepare a balance sheet giving the assets and liabilities in respect to Savings Banks, to the credit of which shall be placed the amount of the charge upon the Consolidated Fund for twenty-four millions and all other moneys and securities of every kind; and that a copy of this balance sheet be laid before Parliament each year.
Sec. 7. That the deficiency shown shall be a charge upon the Consolidated Fund.
Sec. 8. That the powers of investment granted to the Commissioners by other Acts, in so far as they are not varied by this Act, shall continue in force.
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“The Savings Bank Investment Act,” which has just received the Royal Assent (20th March, 1866), empowers the Treasury to substitute terminable annuities for capital stock standing to the account of Savings Banks and Post Office Savings Banks, and empowers the Treasury to make rules as to payments to the National Debt Commissioners. The Treasury is likewise empowered to cancel capital stocks of annuities, and to substitute terminable annuities. The warrants issued by the Treasury to the Bank of England to be a sufficient authority for the cancelling of the stock.
(H.)
Financial Returns, giving the most recent information relating to Savings Banks, Post Office Savings Banks, and Military Banks, including the entire Amount of Deposits placed in each kind of Bank from their commencement.