1981 No. 108
The National Savings Bank (Investment Deposits) (Limits) (Amendment) Order 1981
Laid before Parliament in draft
Made
Coming into Operation
Whereas a draft of this Order has been laid before Parliament and a period of 40 days beginning with the day of laying has expired:
Now, therefore, the Treasury, in exercise of the powers conferred on them by section 4 of the National Savings Bank Act 1971, and of all other powers enabling them in that behalf, hereby make the following Order:—
1
This Order may be cited as the National Savings Bank (Investment Deposits) (Limits) (Amendment) Order 1981, and shall come into operation on the day after the day on which it is made.
2
The National Savings Bank (Investment Deposits) (Limits) Order 1977 shall be amended as follows:—
a
in Article 3, by substituting for the sum “£50,000”
the sum “£200,000”
;
b
in Article 4, by substituting for paragraph (1) thereof the following paragraph:—
1
Nothing in Article 3 of this Order shall operate to prevent—
a
the receipt or crediting of any amount allowed by the National Savings Bank to a depositor by way of interest in respect of his investment deposit account;
b
the receipt or crediting of any amount transferred from the investment deposit account of another depositor in the National Savings Bank who has died; or
c
the crediting of any amount by the Director of Savings under Regulation 45 of the National Savings Stock Register Regulations 19761.