Clause 2

by deleting the word “The” in the 1st line of subsection (1) and substituting the words “Subject to subsection (2), the”; and

by deleting subsection (2) and substituting the following subsections:“(2) Where any Government security that is redeemable at the election of the holder thereof at any time is redeemed before its date of maturity, a portion of the half-yearly interest payable on that Government security (calculated on a pro-rata basis) shall be payable on such date as may be specified as the redemption date in the duly served notice of intention to redeem that Government security.(3) The Minister shall —

in each half-yearly period ending on the day on which interest on the Government securities falls due; or

in the case of Government securities that are redeemable at the election of the holders thereof at any time, as soon as practicable after due notice of intention to redeem the Government securities before their date of maturity is given,appropriate out of the Government Securities Fund a sum equal to the appropriate interest (or portion thereof) on all the Government securities that is due and payable in order to pay that interest.”.