Denomination conversion preserves original certificate date; exchanges require same aggregate face value and disallow combining dated certificates. Conversion allowed exchange between higher and lower denomination National Savings Certificates provided the aggregate face value remained the same; ... Summary
Denomination conversion preserves original certificate date; exchanges require same aggregate face value and disallow combining dated certificates.
Conversion allowed exchange between higher and lower denomination National Savings Certificates provided the aggregate face value remained the same; certificates bearing different dates could not be combined for exchange; certificates issued in exchange retained the same original date as the surrendered certificate(s) rather than the exchange date.
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