The National Savings Stock Register (Amendment) Regulations 1981

Statutory Instruments

1981 No. 485

NATIONAL DEBT

The National Savings Stock Register (Amendment) Regulations 1981

Made

25th March 1981

Laid before Parliament

10th April 1981

Coming into Operation

1st May 1981

The Treasury, in exercise of the powers conferred upon them by section 3 of the National Debt Act 1972 and of all other powers enabling them in that behalf, hereby make the following regulations:—

1.  These Regulations may be cited as the National Savings Stock Register (Amendment) Regulations 1981, and shall come into operation on 1st May 1981.

2.  The National Savings Stock Register Regulations 1976(1) shall be amended as follows:—

(a) in Regulation 32(1)—

(i) by inserting before the words “make a nomination” the words “before 1st May 1981”;

(ii) by inserting at the end of the paragraph the following sentence—

 

“A nomination made after 30th April 1981 shall be of no effect.”;

(b) in Regulation 34 by inserting after the words “shall cause every nomination” the words “made before 1st May 1981 and”;

(c) in Regulation 36(1)(e) by inserting after the words “duly made in accordance with these Regulations” the words “before 1st May 1981”.

John Wakeham

J.A. Douglas-Hamilton

Two of the Lords Commissioners of Her Majesty's Treasury

25th March 1981

EXPLANATORY NOTE

These Regulations, which amend the National Savings Stock Register Regulations 1976, provide that after 30th April 1981 a person holding stock on the part of the National Savings Stock Register kept by the Director of Savings will no longer be able to make a nomination directing the manner in which his interest in the stock is to devolve on his death. The only change in relation to existing nominations will be that the making of a new nomination will no longer be included among the methods of revocation.

(1)

, to which there are amendments not relevant to these Regulations.