The National Savings Bank (Amendment) (No. 2) Regulations 1984

Statutory Instruments

1984 No. 602

SAVINGS BANKS

The National Savings Bank (Amendment) (No. 2) Regulations 1984

Made

26th April 1984

Laid before Parliament

26th April 1984

Coming into Operation

11th May 1984

The Treasury, in exercise of the powers conferred on them by section 2(1) of the National Savings Bank Act 1971(1), and of all other powers enabling them in that behalf, hereby make the following Regulations:—

1.  These Regulations may be cited as the National Savings Bank (Amendment) (No. 2) Regulations 1984, and shall come into operation on 11th May 1984.

2.  The National Savings Bank Regulations 1972(2) shall be amended, in Regulation 40(1) (power to make payment without a grant of representation subject to a limit of £1,500), by substituting for the words “£1,500” the words “£5,000”.

3.  These Regulations shall apply in relation to deaths occurring on or after the date on which these Regulations come into operation.

4.  The National Savings Bank (Amendment) Regulations 1975 are hereby revoked.

Alastair Goodlad

D. J. F. Hunt

Two of the Lords Commissioners of Her Majesty's Treasury

26th April 1984

EXPLANATORY NOTE

These Regulations, which amend the National Savings Bank Regulations 1972, further increase the limit on the amount which may be repaid on death without the necessity for probate or other proof of title from £1,500 to £5,000. The increased limit applies to payments made in relation to deaths occurring after these Regulations come into operation.

(1)

section 2(1) was extended by section 9(1) of that Act (as amended by the Administration of Estates (Small Payments) (Increase of Limit) Order 1984 (S.I. 1984/539)).

(2)

the relevant amending instrument is S.I. 1975/1190.