Council Regulation (EEC) No 574/72 of 21 March 1972 laying down the procedure for implementing Regulation (EEC) No 1408/71 on the application of social security schemes to employed persons, to self employed persons, to self-employed persons and to their families moving within the Community (Consolidated version — OJ No L 28 of 30. 1. 1997, p. 1See annex B. ) (repealed) (c. 574)

TITLE IV U.K. IMPLEMENTATION OF THE SPECIAL PROVISIONS OF THE REGULATION RELATING TO THE VARIOUS CATEGORIES OF BENEFITS

CHAPTER 3 U.K. INVALIDITY, OLD-AGE AND DEATH (PENSIONS)

Payment of benefits U.K.

Article 55 U.K. Payment of amounts due into the account of the paying body

1. Ten days before the date on which the benefits fall due, the institution responsible for payment shall pay, in the currency of the member State in whose territory it is situated, the sum necessary for the payments specified in the schedule provided for in Article 54 of the implementing Regulation. Payment shall be made through the National Bank or through another bank of the Member State in whose territory the institution responsible for payment is situated, into an account opened in the name of the national Bank or of another bank of the member State in whose territory the paying body is situated, in favour of that body. Such payment shall discharge all liability. The institution responsible for payment shall, at the same time, send notification of payment to the paying body.

2. The bank into whose account payment has been made shall credit the paying body with the exchange value of the payment inthe currency of the Member State in whose territory that body is situated.

3. The names and registered offices or places of business of the banks referred to in paragraph 1 are listed in Annex 7.