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