The National Savings Bank (Investment Deposits) (Limits) Order 1977

4.—(1) Nothing in Article 3 of this Order shall operate to prevent the receipt or crediting of—

(a) any amount allowed by the National Savings Bank to a depositor by way of interest in respect of his investment deposit account, or

(b) any amount transferred from the investment deposit account of another depositor in the National Savings Bank who has died.

(2) For the purposes of this Order, a person who is a trustee shall be treated separately in his personal capacity and in his capacity as trustee and in the latter capacity separately in respect of each separate trust fund; and so much of the property in the hands of a trustee shall be treated as a separate trust fund as is held on trusts which (as respects the beneficiaries or their respective interests or the purposes of the trust or as respects the powers of the trustee) are not identical with those on which other property in his hands is held.

(3) In computing for the purposes of this Order the amount standing to the credit of any person, there shall not be taken into account any amounts received from a trustee on behalf of that person for an account in the joint names of the trustee and that person.