Depositors generally
5.—(1) Deposits may be made by and in the name of any person who has attained the age of seven years and who is not under any legal disability otherwise than by reason of his age.
(2) Where deposits are made by and in the name of a trustee otherwise than under Regulation 9 below, he may be described in the account as a trustee of a specified trust or as a trustee without specifying a trust.