Birmingham Municipal Bank Regulations, 1949
 
 
 
 
 
 
The Report of the Bank Committee that was presented to the City Council on March 8th 1949, included the following:
 
AMENDMENT OF REGULATIONS
 
It has been suggested during consultations with HM Treasury that in order to widen the scope of investments available for Bank funds, Regulation No. 71 be amended to include not only investments in Government Securities but also investments in securities guaranteed as to principal and interest by the British Government.
 
Your Committee recommend that, subject to the approval of HM Treasury and the Registrar of Friendly Societies, the Municipal Bank Regulations, 1949, which have been framed to give effect to the foregoing matter and are set out hereunder, be now prescribed.
 
It was moved by Mr Councillor Achurch, seconded, and Resolved:
 
That, subject to the approval of HM Treasury and the Registrar of Friendly Societies, this Council do hereby prescribe the following Regulations, and that the Town Clerk be authorised to affix the Corporate Seal thereto and to make application for the necessary consents:
 
BIRMINGHAM MUNICIPAL BANK REGULATIONS, 1949
 
    1  These Regulations may be cited as the Birmingham Municipal Bank Regulations, 1949.
 
    2  For the words 'Government securities' where they appear in Regulation No. 71 of the Birmingham Municipal Bank Regulations,
       1930 (as amended by the Birmingham Municipal Bank Regulations, 1941), shall be substituted the words 'securities of the
       British Government or in securities guaranteed as to principal and interest by the British Government.'
 
    3  These Regulations shall come into operation on the ninth day of March, one thousand nine hundred and forty-nine.
 
 
 
 
 
 
 
 
DJP/October 6th 2009
 
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