'Conversions

Part of Orders of the Day — Finance Bill – in the House of Commons at 12:30 am on 10th July 1985.

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(2) The transfer shall be treated as made with accrued interest if the person was entitled to receive in respect of the securities interest payable on—

  1. (a) the day of the conversion, if that is an interest payment day, or
  2. (b) the next (or first) interest payment day to fall after the day of the conversion, in any other case,
and they shall be treated as transferred without accrued interest if he was not so entitled.