An organization run by National Savings and Investments from the Bonds and Stock Office in Blackpool. It enables members of the public to buy certain Treasury stocks and other gilt-edged securities without going through a stockbroker; it thus provides an alternative to the main Bank of England Stock Register. Purchases and sales are made by post and the interest paid is taxable, but is paid before deduction of tax (unlike the Bank of England Register). Because transactions are carried out by post, this method does not provide the maximum flexibility in a moving market.
Subjects: Financial Institutions and Services.