The National Savings Regulations 2015

Declaration by a depositor who is a trustee

7.—(1) Where an account is opened or held by a trustee, otherwise than under regulation 13, the declaration in the approved form must include the particulars of each account with the National Savings Bank in which is held money belonging to the same trust fund.

(2) For the purposes of paragraph (2), money held in the name of the trustee in another account is deemed to belong to the same trust fund, unless that account differs as respects—

(a) the purposes of the trust;

(b) the powers of the trustee;

(c) the identity of any beneficiary; or

(d) the respective interests of any beneficiary.

(3) The declaration in the approved form required to be made by a trustee under regulation 13 must include the particulars of each account with the National Savings Bank held in the trustee’s name in relation to which that trustee is a trustee for the same, and no other, beneficiary (including a joint account opened under regulation 13).

(4) This regulation does not apply to an account where—

(a) it is opened under an enactment which dispenses with the making of a declaration; or

(b) the Director or Savings directs that the making of a declaration is not required.