15.—(1) The Director of Savings shall from time to time pay to the National Debt Commissioners sums equal to the aggregate amount of all moneys due on bonds which having been entrusted to the Director of Savings for payment are unclaimed, other than moneys in respect of which a payment has already been made to the National Debt Commissioners.
(2) For the purpose of the last foregoing paragraph any moneys due on bonds and not claimed by the person entitled shall be deemed to be unclaimed if a period of five years has elapsed since the due date, but the Director of Savings may treat any such moneys as unclaimed before the expiration of that period.
(3) Where the Director of Savings makes a payment under paragraph (1) of this Regulation in respect of any moneys due on bonds, and afterwards pays those moneys to the person entitled, the amount paid to the National Debt Commissioners in respect of those moneys shall be repaid by them to the Director of Savings.
(4) Any sums paid to the National Debt Commissioners under this Regulation shall be placed to their account of unclaimed dividends, and any repayment by them to the Director of Savings under paragraph (3) of this Regulation shall be made out of that account.
16. If any person holding a bond is a mentally disordered person or is under legal disability for any other reason except his age alone, anything which under these Regulations is required or authorised to be done by or to the holder of the bond shall or may be done by or to the receiver or other person having power in law to administer his estate.
17.—(1) Where the Director of Savings is unable for any reason to obtain a valid discharge for any payment falling to be made to any person in respect of a bond, he may, unless other provision for dealing with the payment has been made by any enactment, open an account in the National Savings Bank in the name of the person to whom the payment is due, and may, until payment can be made to the person entitled thereto, retain the amount due in that account:
(a)if the person to whom the payment is due has an account in the National Savings Bank, the Director of Savings may, if he thinks fit, instead of opening a new account, credit the amount payable to the existing account; and
(b)in the case of an account opened by the Director of Savings—
(i)no sum shall be received by way of deposit for the credit of the account except in pursuance of these Regulations; and
(ii)the regulations requiring a declaration to be made by a depositor in the National Savings Bank shall not apply with respect to any payment into the account by the Director of Savings.
(2) For the purpose of any Order under section 4 of the National Savings Bank Act 1971 (which empowers the Treasury by order to limit the amount of deposits in the National Savings Bank) or any Order having effect as if made under that section, regard shall not be had to any sum credited to an account under this Regulation.
18.—(1) The loss or destruction of any document issued by the Director of Savings in pursuance of these Regulations, or by the Postmaster General or the Director of Savings in pursuance of any Regulations revoked by these Regulations, shall be notified in writing to the Director of Savings as soon as practicable by the person entitled to possession of the document.
(2) If it appears to the Director of Savings that any document so issued has been issued in error, lost, destroyed or tampered with, or is in such a condition as to render it desirable that it should be replaced by a new document, he may, subject to the provisions of this Regulation, issue a new document in lieu of the old document to any person who satisfies him that he is entitled to the possession of the document.
(3) The Director of Savings may attach to the issue under this Regulation of any new document such conditions as to indemnity or otherwise as he thinks fit.
19.—(1) Subject to the provisions of this Regulation, if any person—
(a)not being a person entitled under Regulation 4 of these Regulations so to do, purchases or holds a bond; or
(b)purchases or holds any bond in contravention of Regulation 5 of these Regulations (which prescribes the maximum number of unit bonds which may be purchased);
the bond and any money payable in respect thereof shall, if the Director of Savings so directs, be forfeited:
(2) For the purposes of any Order under section 4 of the National Savings Bank Act 1971 (which empowers the Treasury by order to limit the amount of deposits in the National Savings Bank) or any Order having effect as if made under that section, any sum credited to a person under this Regulation shall, if the Director of Savings so directs, be disregarded.
(3) Notice of any forfeiture under this Regulation shall be sent to the person concerned as soon as may be, and the Director of Savings may require any bond which may be or is affected, or any document issued in lieu of such bond, to be delivered up to him for the purpose of being either cancelled or altered or otherwise dealt with, as may be necessary to give effect to the provisions of this Regulation.
20. Where any document is required by the Director of Savings or by these Regulations to be signed by any person and that person is unable to write, it shall be sufficient for the purposes of these Regulations if the document is marked by that person in the presence of a witness in such manner as the Director of Savings may require.
21.—(1) Any mistake in any document received from the Director of Savings in pursuance of these Regulations, or from the Postmaster General or the Director of Savings in pursuance of any Regulations revoked by these Regulations, shall, as soon as practicable, be notified in writing to the Director of Savings by the person receiving the document.
(2) If the Director of Savings is satisfied that any transaction effected or thing done, or purporting to have been effected or done, in accordance with these Regulations or any Regulations revoked by these Regulations has been effected or done in error, he may cancel the transaction and may take all such steps as are, in his opinion, necessary to rectify the error, and may for that purpose require the surrender to him of any bond or other document.
22.—(1) If any dispute arises between the Director of Savings and—
(a)the holder of any bond, or
(b)a person who is or claims to be the personal representative or next of kin or creditor of a holder, or the trustee in bankruptcy or assignee of a holder who is bankrupt or insolvent, or
(c)a person who claims to be entitled to any bond,
with respect to any matter (not being a matter as to which, under the provisions of any prospectus relating to the bond, the decision of the Director of Savings is to be final), the matter in dispute shall be referred in writing to the Chief Registrar of Friendly Societies.
(2) On any such reference being made, the Chief Registrar may proceed ex parte on notice in writing sent by post to the Director of Savings, and may administer oaths to any witnesses appearing before him.
(3) The award of the Chief Registrar on any reference under this Regulation shall be final and binding on all parties.
(4) Section 11 of the National Savings Bank Act 1971 (which empowers the Treasury to direct that fees shall be charged on certain awards made by the Chief Registrar of Friendly Societies) shall have effect as if the awards therein mentioned included awards made under this Regulation.
23. No notice of a trust shall be receivable by the Director of Savings in respect of a bond.
24. No stamp duty shall be charged on—
(a)a warrant for the payment of the sum repayable, or any other sum payable, in respect of a bond; or
(b)a power of attorney or other document which relates to the payment or receipt of any such sum.
25. Section 10 of the Savings Banks Act 1887 (which relates to the price of a certificate of birth, death or marriage required for the purpose of the Acts relating to the National Savings Bank), as amended by any Order in force for the time being under section 5 of the Public Expenditure and Receipts Act 1968, shall apply for the purposes of these Regulations as it applies for the purposes of those Acts, and for the purposes of these Regulations the said section 10 shall have effect as if the holder of a bond or any person having an interest in a bond were a depositor in the National Savings Bank.
26.—(1) The Treasury, the Director of Savings and any person acting under his authority shall not be liable in respect of any payment duly made or act duly done in accordance with these Regulations, and any such payment shall, subject to the provisions of these Regulations for saving the rights of third parties, be deemed to have been a valid payment, and the receipt of the person to whom the money was paid shall be a full discharge to the Treasury and the Director of Savings for the amount of the payment.
(2) Where a warrant for payment of the sum repayable, or any other sum payable, in respect of a bond is issued payable to some person being neither the holder of the bond nor a person otherwise entitled under these Regulations to receive payment in respect thereof, then, if it is shown that—
(a)the warrant was issued in good faith and without negligence; and
(b)the issue of the warrant to that person is attributable to some act or omission on the part of the holder or a person so entitled;
the warrant shall, subject to the provisions of these Regulations for saving the rights of third parties, be deemed to have been duly issued to a person so entitled.
27. Nothing in these Regulations, or in any Regulations revoked by these Regulations, for the protection of the Treasury, the Director of Savings or the Postmaster General in respect of any act done or any money paid shall operate to prevent the recovery by any person or his representatives of any money lawfully due to him from the person to whom that money was paid by or under the direction of the Director of Savings or the Postmaster General, or from the representatives of that person, or affect the right which any person or his representatives may have in respect of a bond against a third party.
28. Where any application is required by these Regulations to be made in a manner approved by the Director of Savings, the document in which the application is made shall contain a full and specific statement of the particulars required to be given, and any such document which is required by the Director of Savings to be signed by any person shall be signed by that person.
29.—(1) The Director of Savings shall be entitled to require evidence to be given to his satisfaction of the identity of any person or of the title of any person to any bond, document or money, or to require evidence that anything purporting to be done in pursuance of these Regulations has been duly done, or otherwise with respect to any matters on which the due exercise of his powers or performance of his duties under these Regulations depends, and the Director of Savings may, for the purpose of obtaining any such evidence, require a statutory declaration to be made by any person.
(2) The Director of Savings may accept as conclusive proof of the death of the holder of a bond any evidence which establishes to his satisfaction the fact that the holder has not been heard of for a period of seven years or upwards, and, for the purposes of this paragraph, the expression “holder of a bond”
30.—(1) A person employed in connection with business arising under these Regulations shall not disclose to any person, other than the Director of Savings or a person employed in carrying these Regulations into execution, the name of the purchaser or holder of any bond, the number of bonds purchased or held by any person, or the amount paid to any person in respect of a bond.
(2) The last foregoing paragraph shall not prevent the disclosure by a person authorised for the purpose by the Director of Savings of information to any person in connection with an offence committed with reference to any bond or for the purpose of ascertaining whether or not an offence has been so committed.
31. In the application of these Regulations to Scotland—
(a)any reference to a mentally disordered person shall be construed as a reference to a person who is incapable by reason of mental disorder within the meaning of the Mental Health (Scotland) Act 1960 of managing and administering his property and affairs;
(b)any reference to a receiver in relation to a mentally disordered person shall be construed as a reference to a curator bonis, guardian, or tutor;
(c)any reference to a receiving order shall be construed as a reference to an award of sequestration;
(d)any reference to the Official Receiver shall be construed as a reference to the trustee or judicial factor in bankruptcy;
(e)any reference to probate, letters of administration or letters of administration with the will annexed shall be construed as a reference to confirmation of an executor;
(f)any reference to the Treasury Solicitor shall be construed as a reference to the Queen's and Lord Treasurer's Remembrancer;
(g)any reference to the Chief Registrar of Friendly Societies shall be construed as a reference to the Assistant Registrar of Friendly Societies for Scotland.
32.—(1) These Regulations shall extend to Northern Ireland.
(2) In the application of these Regulations to Northern Ireland—
(a)any reference to a mentally disordered person shall be construed as a reference to a person who, by reason of unsoundness of mind, or of mental disorder within the meaning of the Mental Health Act (Northern Ireland) 1961, is or is considered incapable of managing his affairs;
(b)any reference to a receiver in relation to a mentally disordered person shall be construed as a reference to a committee or any other person appointed pursuant to the Lunacy Regulation (Ireland) Act 1871 (as amended) and the orders made thereunder to exercise with respect to the estate of such person powers similar to those of a committee;
(c)any reference to a receiving order shall be construed as a reference to an order of adjudication of bankruptcy, or to an order in any arrangement operating by virtue of section 349 of the Irish Bankrupt and Insolvent Act 1857 to vest a deposit in the Official Assignee alone or jointly with any person;
(d)any reference to the Official Receiver shall be construed as a reference to the Official Assignee in Bankruptcy;
(e)any reference to the Treasury Solicitor shall be construed as a reference to the Chief Crown Solicitor for Northern Ireland;
(f)any reference to the Chief Registrar of Friendly Societies shall be construed as a reference to the Chief Registrar of Friendly Societies or a deputy appointed by him.
33.—(1) These Regulations shall extend to the Isle of Man.
(2) In the application of these Regulations to the Isle of Man—
(a)any reference to a receiver in relation to a mentally disordered person shall be construed as a reference to the committee of the estate of a person found of unsound mind according to the law of the Isle of Man or to a receiver appointed under section 3 of the Mental Diseases Act 1954 of the Isle of Man, as the case may be;
(b)any reference to the Treasury Solicitor shall be construed as a reference to the Attorney-General of the Isle of Man.
34.—(1) These Regulations shall extend to the Channel Islands.
(2) In the application of these Regulations to Jersey—
(a)any reference to a mentally disordered person shall be construed as a reference to a person suffering from mental disorder within the meaning of the Mental Health (Jersey) Law 1969;
(b)any reference to a receiver in relation to a mentally disordered person shall be construed as a reference to a curator;
(c)the references in Regulation 8(2) of these Regulations to sections 3 and 4 of the Cheques Act 1957 shall be respectively construed as references to articles 3 and 4 of the Cheques (Jersey) Law 1957;
(d)any reference to a receiving order shall be construed as a reference to a declaration of “désastre”;
(e)any reference to the Official Receiver shall be construed as a reference to Her Majesty's Viscount for Jersey or to an “attourné” appointed in bankruptcy, as the case may be;
(f)any reference to the Treasury Solicitor shall be construed as a reference to Her Majesty's Receiver General for Jersey.
(3) In the application of these Regulations to Guernsey, Alderney and Sark—
(a)any reference to a mentally disordered person shall be construed as a reference to a person who under any law for the time being in force in any of the Islands of the Bailiwick of Guernsey is a person of unsound mind;
(b)any reference to a receiver in relation to a mentally disordered person shall be construed as a reference to a guardian appointed by the Royal Court of Guernsey, the Court of Alderney or the Court of the Seneschal of Sark, as the case may be;
(c)any reference to the Treasury Solicitor shall be construed as a reference to Her Majesty's Receiver-General;
(d)any reference to a statutory declaration shall be construed, in relation to Guernsey, as a reference to a declaration on oath before the Bailiff, a jurat, the Magistrate or a Notary Public, in relation to Alderney, as a reference to a declaration on oath before the Court of Alderney, and, in relation to Sark, as a reference to a declaration before the Seneschal;
(e)the references in Regulation 8(2) of these Regulations to section 76, subsections (1), (3), (4) and (5), and, so far as it relates to crossed cheques, subsection (6) of section 77, and sections 78, 79, 80 and 81 of the Bills of Exchange Act 1882 shall be respectively construed as references to section 75, subsections (1), (3), (4) and (5) and, so far as it relates to crossed cheques, subsection (6) of section 76, and sections 77, 78, 79 and 80 of the Bills of Exchange (Guernsey) Law 1958, and the references in the said Regulation 8(2) to sections 3 and 4 of the Cheques Act 1957 shall be respectively construed as references to sections 83 and 84 of the Bills of Exchange (Guernsey) Law 1958;
(f)for Regulation 11 of these Regulations there shall be substituted the following Regulation:—
“11. Where it is shown to the satisfaction of the Director of Savings that any person who is the holder of a bond is insolvent, the Director of Savings may, if he thinks fit, pay the sum repayable, or any other sum payable, in respect of the bond to any person who makes application in that behalf and who satisfies him that he is a proper person to receive payment.”;
(g)in Regulation 22(1)(b) of these Regulations the words “or the trustee in bankruptcy or assignee of a holder who is bankrupt or insolvent” shall be deleted.
35.—(1) The Regulations specified in the Schedule to these Regulations are hereby revoked.
(2) In so far as any application, payment, reference or award made, approval, authority, direction, notice or receipt given, warrant or document issued, or other thing done, under any Regulations revoked by these Regulations could have been made, given, issued or done under a corresponding provision of these Regulations, it shall not be invalidated by the revocation, but shall have effect as if made, given, issued or done under that corresponding provision.
(3) These Regulations shall not affect the validity of anything done by or in relation to the Postmaster General before 1st October 1969 under the provisions of any Regulations revoked by these Regulations; and anything which at that date was in process of being done under those provisions by or in relation to the Postmaster General may be continued by or in relation to the Director of Savings.
(4) Without prejudice to the last preceding paragraph, where on 1st October 1969 a matter in dispute between the Postmaster General and another stood referred under Regulation 18 of the Premium Savings Bonds Regulations 1956 to the Chief Registrar of Friendly Societies or a deputy appointed by him or to the Assistant Registrar of Friendly Societies for Scotland, the Director of Savings shall be substituted for the Postmaster General as a party to the reference; and an award made under that Regulation before 1st October 1969 shall bind the Director of Savings.
(5) The mention of particular matters in this Regulation shall be without prejudice to the general application of section 38 of the Interpretation Act 1889 as it applies for the interpretation of these Regulations.