CONSOLIDATED FUND (NO. 1) ACT 1918. CHAPTER I. An Act to apply certain sums out of the Consolidated Fund to the service of the years ending on the thirty-first day of March one thousand nine hundred and eighteen and one thousand nine hundred and nineteen. [19th March 1918.] Most Gracious Sovereign, WE, Your Majesty's most dutiful and loyal subjects, the Commons of the United Kingdom of Great Britain and Ireland in Parliament assembled, towards making good. the supply which we have cheerfully granted to Your Majesty in this session of Parliament, have resolved to grant unto Your Majesty the sums hereinafter mentioned; and do therefore most humbly beseech Your Majesty that it may be enacted, and be it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows: 1. ISSUE OF £906,468 OUT OF THE CONSOLIDATED FUND FOR THE SERVICE OF THE YEAR ENDING 31ST MARCH 1918.-The Treasury may issue out of the Consolidated Fund of the United Kingdom of Great Britain and Ireland, and apply towards making good the supply granted to His Majesty for the service of the year ending on the thirty-first day of March one thousand nine hundred and eighteen the sum of nine hundred and six thousand four hundred and sixty-eight pounds. 2. ISSUE OF £645,867,000 OUT OF THE CONSOLIDATED FUND FOR THE SERVICE OF THE YEAR ENDING 31ST MARCH 1919.-The Treasury may issue out of the Consolidated Fund of the United Kingdom of Great Britain and Ireland, and apply towards making good the supply granted to His Majesty for the service of the year ending on the thirty-first day of March one thousand nine hundred and nineteen the sum of six hundred and forty-five million eight hundred and sixty-seven thousand pounds. 3. POWER FOR THE TREASURY TO BORROW.-(1) The Treasury may borrow from any person, by the issue of Treasury Bills or otherwise, and the Bank of England and the Bank of Ireland may advance to the Treasury on the credit of the said sum, any sum or sums not exceeding in the whole six hundred and forty-six million seven hundred and seventy-three thousand four hundred and sixty-eight pounds. (2) The date of payment of any Treasury Bills issued under this section shall be a date not later than the thirty-first day of March one thousand nine hundred and nineteen, and section six of the Treasury Bills Act 1877 (40 & 41 Vict. c. 2) (which relates to the renewal of bills) shall not apply with respect to those bills. (3) Any money borrowed otherwise than on Treasury Bills shall be repaid, with interest not exceeding five pounds per cent. per annum, out of the growing produce of the Consolidated Fund, at any period not later than the next succeeding quarter to that in which the money was borrowed. (4) Any money borrowed under this section shall be placed to the credit of the account of the Exchequer, and shall form part of the said Consolidated Fund, and be available in any manner in which such Fund is available. 4. SHORT TITLE.-This Act may be cited as the Consolidated Fund (No. 1) Act 1918. CHAPTER II. An Act to extend the Hours within which Marriages may be lawfully solemnized in Ireland. [21st March 1918.] 8 GEORGE 5, CHAPTER 3. CHAPTER III. An Act to make provision for the joint appointment by the Board of Trade and the Secretary of State for Foreign Affairs of a Secretary of the Overseas Trade Department. [21st March 1918.] CHAPTER IV. An Act to amend the Trustee Savings Banks Acts 1863 to 1904, with respect to Special Investments and the Separate Surplus Fund. [18th April 1918.] BE it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parlia ment assembled, and by the authority of the same, as follows: 1. CONTROL OF NATIONAL DEBT COMMISSIONERS OVER SPECIAL INVESTMENTS BUSINESS. (1) Every trustee savings bank which carries on the business of making special investments shall so far as respects that business be subject to the control of the National Debt Commissioners and shall comply with any directions which may from time to time be given by the Commissioners with respect to that business. If a bank to which any such directions are given neglects or refuses to comply therewith, the Commissioners may themselves take the necessary steps for giving effect thereto, and for that purpose may do all such things and exercise all such powers as may be done and exercised by the trustees, managers, and other officers of the bank. (2) Without prejudice to the general power of control herein before given to the Commissioners, the following provisions shall have effect with respect to the special investments business of a trustee savings bank : (a) No money received for investment shall be invested, and no securities held on account of special investments shall be sold, except with the approval of the Commissioners: (b) No change shall be made in the rate of interest allowed to depositors in respect of special investments except with the approval of the Commissioners: (c) The amount to be expended by the bank for expenses of management on account of the special investments business shall not exceed such an amount as may be allowed by the Commissioners: (d) No money received for investment shall be invested except so as to become repayable not later than the expiration of one year, or, if the money is invested in Government securities, three years, from the date of the investment, or so as to be repayable on six months' or some shorter notice : (e) There shall be transmitted to the Commissioners, together with the statement required to be transmitted to them under section fifty-five of the Trustee Savings Banks Act 1863 (26 & 27 Vict. c. 87), a valuation of the securities held by the bank on account of special investments, and for the purpose of the valuation the value of those securities shall be calculated according to the current market price at the date of the valuation, or, in the case of securities for which there is at that date no current market price, shall be taken to be such an amount as the Commissioners shall fix, having regard to the date of repayment of, and to the rate of interest payable in respect of, the securities. 2. ESTABLISHMENT OF GUARANTEE FUND TO MEET DEFICIENCIES ON SPECIAL INVESTMENTS ACCOUNTS.—(1) For the purpose of providing for any deficiency which may arise in respect of special investments made by trustee savings banks, there shall be established a guarantee fund under the control of the Commissioners. (2) The guarantee fund shall consist of— (a) The reserves both in respect of general business and of special investments of all trustee savings banks which make special investments; and TRUSTEE SAVINGS BANKS ACT 1918. (b) Such part of the separate surplus fund as stands to the credit of closed trustee savings banks; and for the purpose aforesaid the reserves of every such trustee savings bank shall be at the disposal of the Commissioners, and the bank shall comply with any directions. given by the Commissioners with respect to those reserves for the purpose of giving effect to the provisions of this section. (3) If on any valuation of the assets belonging to any bank on account of special investments it appears that there is a deficiency, that deficiency shall, in the event of the bank being closed or wound up, or discontinuing, with the consent of the Commissioners, the business of making special investments, be a charge on and be made good out of the guarantee fund, as follows: (a) Recourse shall be had in the first instance to the amount standing to the credit of the guarantee fund in respect of the reserves of the bank in question and, so far as that amount is insufficient for the purpose, to the amount standing to the credit of the guarantee fund in respect of the reserves of other banks and to the part of the separate surplus fund standing to the credit of the guarantee fund pari passu; and (b) As between the reserves of a bank in connection with special investments and the reserves of a bank in connection with its general business, recourse shall be had in the first instance to the reserves in connection with special investments, and as between the banks other than the bank in connection with whose account the deficiency has arisen the amount falling to be charged on the reserves of those banks shall be allocated pro ratâ to those reserves according to their several amounts. (4) So much of paragraph (e) of section ten of the Savings Banks Act 1891 (54 & 55 Vict. c. 21) as enacts that the assets of a bank in respect of ordinary deposits are not to be liable for any loss or deficiency in respect of special investments shall cease to have effect so far as relates to such assets of the bank as are reserves within the meaning of this Act. 3. INTEREST ON SEPARATE SURPLUS FUND.-(1) The amount standing to the credit of a trustee savings bank in the separate surplus fund which accrued before the commencement of the Savings Banks Act 1880 (43 & 44 Vict. c. 36) shall, as from the twentieth day of November nineteen hundred and seventeen, carry interest at the same rate and in the same manner as any other sums standing to the credit of the bank. (2) Section four of the Savings Banks Act 1891 (which provides for the expenses of the Inspection Committee) shall have effect as if the words "so much of the separate surplus fund which has accrued under section twenty-nine of the Savings Banks Act 1863 as stands to the credit of closed trustee savings banks" were substituted for the words "the separate surplus fund which has accrued under section twenty-nine of the Savings Banks Act 1863, and which does not carry interest to the trustees of savings banks." 4. INTERPRETATION.-In this Act The expression "trustee savings bank" means a bank certified under the The expression "special investments" means any investments made in pursu- The expression "separate surplus fund" means the fund created pursuant to section twenty-nine of the Trustee Savings Banks Act 1863: The expression "Commissioners means the National Debt Commissioners: The expression ' reserves means as respects any bank the whole of the assets of the bank, less the amount necessary to discharge in full all liabilities to depositors in the bank and outstanding management expenses. 5. EXTENSION TO CHANNEL ISLANDS AND THE ISLE OF MAN.-This Act shall extend to the Channel Islands and the Isle of Man, and the Royal Courts of the Channel Islands shall register the same. 8 GEORGE 5, CHAPTER 4. 6. SHORT TITLE AND CITATION.-This Act may be cited as the Trustee Savings Banks Act 1918, and may be cited with the Trustee Savings Banks Acts 1863 to 1904. 1. Extension of obligation to military service. 2. Power by Order in Council to apply Act to Ireland. 3. Power by proclamation to withdraw certificates of exemption in case of national emergency. 4. Provisions as to applications for certificates of exemption and as to calling up. 5. Amendment of 7 & 8 Geo. 5, c. 26. 6. Power to revoke or vary Orders in Council or proclamations. 7. Presentation of Orders in Council and proclamations to both Houses of Parliament. 8. Short title, interpretation, and repeal. SCHEDULES. CHAPTER V. An Act to make further provision with respect to Military Service during the present war. [18th April 1918.] BE it enacted by the King's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows: 1. EXTENSION OF OBLIGATION TO MILITARY SERVICE. (1) Every male British subject who has, at any time since the fourteenth day of August nineteen hundred and fifteen, been, or who for the time being is, in Great Britain, and who at the date of the passing of this Act has attained the age of eighteen years and has not attained the age of fifty-one years, or who at any subsequent date attains the age of eighteen years, shall, unless he is for the time being within the exceptions set out in the First Schedule to this Act, be deemed, as from the date of the passing of this Act, or as from that subsequent date, or, if having been within those exceptions he subsequently ceases so to be, as from the date on which be so ceases, as the case may be, to have' been duly enlisted in His Majesty's regular forces for general service with the colours or in the reserve for the period of the war, and to have been forthwith transferred to the reserve: Provided that— (a) if it appears to His Majesty at any time that it is necessary so to do for the defence of the realm, His Majesty may by Order in Council declare that the foregoing provision shall, as respects men generally, or as respects any class of men, have effect, as from a date to be specified in the Order, as if any age specified in the Order not exceeding fifty-six years were therein substituted for the age of fifty-one years, but where it is proposed to make any such Order as aforesaid, a draft of the Order shall be presented to each House of Parliament, and the draft Order shall not be submitted to His Majesty in Council unless each House presents an Address to His Majesty praying that the Order may be made; and (b) as respects any person being a duly qualified medical practitioner, the fore |