The National Savings Bank (Amendment)Regulations 1991

Amendment of principal Regulations

2.  The National Savings Bank Regulations 1972(1) shall be amended by substituting the following for regulation 43 –

“43.   For the purpose of section 5 of the National Savings Bank Act 1971(2) (which relates to the calculation of interest on ordinary deposits), and without prejudice to section 7 of that Act(3) (which relates to the withdrawal of deposits), money deposited by way of ordinary deposit and withdrawn under and in accordance with these Regulations shall, where payment is made by warrant, be deemed to have been withdrawn on the date appearing on the warrant, such date to be no earlier than the date on which the warrant is posted.”.

(1)

S.I. 1972/764, to which there are amendments not relevant to these Regulations.

(2)

Section 5 was amended by paragraph 4 of Schedule 20 to the Finance Act 1982 (c. 39) and section 184 of and Schedule 17 to the Finance Act 1989 (c. 26).

(3)

Section 7 was amended by paragraph 6 of Schedule 20 to the Finance Act 1982.