Part VI Miscellaneous and supplementary provisions

Provisions relating to government finance

152 National Savings Bank.

(1)

In section 4 of the M1National Savings Bank Act 1971 (deposits: limits and minimum balances), after subsection (3) insert—

“(4)

Regulations under section 2 of this Act may include any provision that may be included in an order under this section.”.

(2)

In section 26 of that Act (regulations and orders etc.), for subsections (2) and (3) (parliamentary control of regulations under section 2 and orders under section 4) substitute—

“(2)

A statutory instrument containing—

(a)

regulations under section 2 of this Act, or

(b)

an order under section 4 of this Act,

shall be subject to annulment in pursuance of a resolution of either House of Parliament.”.

(3)

If a draft of a statutory instrument containing an order under section 4 of that Act has been laid before Parliament, but the instrument has not been made, before the day on which this Act is passed, the instrument may be made either—

(a)

as if section 26 of that Act had not been amended by this section, or

(b)

in reliance on section 26(2) as substituted by this section.

The instrument shall be taken to be made as mentioned in paragraph (a) unless it states that it is made in reliance on section 26(2) as substituted by this section.