National Savings Bank Act 1971 (c. 29)

Provisions as to deposits U.K.

3 Ordinary and investment deposits. U.K.

(1) A deposit with the National Savings Bank may be made either as an ordinary deposit or as an investment deposit.

(2) Regulations under section 2 of this Act may make different provision with respect to ordinary deposits and with respect to investment deposits [F1 and with respect to investment deposits of different descriptions], and may prevent the making of an investment deposit [F2 or an investment deposit of a particular description] unless the person who will be the depositor in respect thereof is also a depositor in respect of ordinary deposits and the sum due to him in respect of those deposits is not less than such amount as may be specified in the regulations.

Textual Amendments

F1 Words inserted by Finance Act 1982 (c. 39, SIF 63:1), Sch. 20 para. 2(a)

F2 Words inserted by Finance Act 1982 (c. 39, SIF 63:1), Sch. 20 para. 2(b)