The National Savings Bank Regulations 1972

Transfer of deposits

30.—(1) Subject to the provisions of these Regulations, a depositor may apply to transfer deposits standing in his name into the name of any other depositor or into an account to be opened in the name of any person entitled to make deposits in the National Savings Bank; except where the Director of Savings otherwise directs, an application for transfer shall be in the approved form and shall be accompanied by the deposit book relating to the deposits.

(2) On being satisfied as to the title of the applicant to transfer the deposits, the Director of Savings may effect the desired transfer, and the death of the applicant shall not of itself determine the authority given by the applicant for the transfer to be made; but if the Director of Savings receives notice before the transfer is effected that the applicant has died, the transfer shall not be made.

(3) This Regulation shall, so far as applicable, apply to the transfer of sums from the account of a deceased depositor, and, in particular, the legal personal representative of the depositor, or any person to whom any sum due to the depositor at the time of his death may be paid in accordance with the provisions of these Regulations, may, subject to the provisions of these Regulations, instead of withdrawing any such sum, apply for the transfer thereof into his own name or the name of another person.