The Premium Savings Bonds Regulations 1972

Settlement of disputes

22.—(1) If any dispute arises between the Director of Savings and—

(a)the holder of any bond, or

(b)a person who is or claims to be the personal representative or next of kin or creditor of a holder, or the trustee in bankruptcy or assignee of a holder who is bankrupt or insolvent, or

(c)a person who claims to be entitled to any bond,

with respect to any matter (not being a matter as to which, under the provisions of any prospectus relating to the bond, the decision of the Director of Savings is to be final), the matter in dispute shall be referred in writing to the Chief Registrar of Friendly Societies.

(2) On any such reference being made, the Chief Registrar may proceed ex parte on notice in writing sent by post to the Director of Savings, and may administer oaths to any witnesses appearing before him.

(3) The award of the Chief Registrar on any reference under this Regulation shall be final and binding on all parties.

(4) Section 11 of the National Savings Bank Act 1971 (which empowers the Treasury to direct that fees shall be charged on certain awards made by the Chief Registrar of Friendly Societies) shall have effect as if the awards therein mentioned included awards made under this Regulation.