The National Savings Regulations 2015

Accounts of minors under sixteen years of age

9.—(1) A deposit may be made on behalf and in the name of a minor under the age of sixteen years by that minor’s parent, guardian or grandparent.

(2) The declaration in the approved form must be made by the person opening the account, and must include the required information in relation to both that person and the minor.

(3) Having attained the age of sixteen years the minor must, on being required to do so, make a declaration in the approved form and, if required, provide a specimen signature.

(4) As long as the minor is under the age of sixteen years, the Director of Savings must only communicate with, accept instructions from, and pay deposits to a person appearing to the Director of Savings to be a person responsible for that minor.

(5) Where the conditions in paragraph (6) are satisfied in relation to an account—

(a) paragraph (4) does not apply; and

(b) paragraph (3) and regulations 8 and 28 have effect as if each reference to “sixteen years” were a reference to “seven years”.

(6) The conditions are that—

(a) the application to open the account was received by the Director of Savings in the approved form before 28th November 2011; and

(b) the minor attained the age of seven years before 21st May 2012.