Part VII Disputes
Disputes under National Savings Bank Act 1971 and National Debt Act 1972
I184 Disputes under the National Savings Bank Act 1971 and National Debt Act 1972.
1
The jurisdiction as to disputes such as are mentioned—
a
in subsection (1) of section 10 of the M1National Savings Bank Act 1971 (disputes between the Director of Savings and depositors etc); and
b
in subsection (1) of section 5 of the M2National Debt Act 1972 (disputes between the Director and the holder of any stock registered in the National Savings Stock Register or a person claiming to be entitled to any such stock),
shall be exercisable by a person (“the adjudicator”) appointed by the Treasury.
2
The adjudicator shall be a person who—
a
has a seven year general qualification, within the meaning of the M3Courts and Legal Services Act 1990;
b
is an advocate or solicitor in Scotland of at least seven years’ standing; or
c
is a member of the bar of Northern Ireland or solicitor of the Supreme Court of Northern Ireland of at least seven years’ standing.
3
Subject to subsections (4) and (5) below, the adjudicator shall hold and vacate office in accordance with the terms of his appointment.
4
A person may at any time resign office as adjudicator by giving the Treasury a signed notice stating that he resigns that office.
5
The adjudicator may be removed from office by the Chancellor of the Exchequer on the ground of incapacity or misbehaviour.
6
The Treasury may pay, or make such payments towards the provision of, such remuneration, pensions, allowances or gratuities to the adjudicator as the Treasury may determine.
7
The Chancellor of the Exchequer may appoint for the adjudicator such staff as he thinks fit with such remuneration and other terms and conditions of service as he thinks fit.
8
Payments under this section shall be made out of money provided by Parliament.