The Savings Certificates (Yearly Plan) Regulations 1984

Payment under grant of representation

14.—(1) In the event of the death of the person to whom the terms of an agreement applied or who held a certificate or on whose behalf an agreement was entered into, the production of probate or letters of administration granted, or having effect as if granted, in respect of personal estate comprising the certificate by a court in the United Kingdom, the Isle of Man or the Channel Islands, or of a certified copy thereof, shall, subject to the provisions of these Regulations, be sufficient authority to the Director of Savings to pay the amount repayable under the agreement or in respect of the certificate, or to transfer the amount repayable under the agreement or the certificate, as the case may be, to the person to whom the grant was made, or as directed by that person.

(2) Where any amount repayable under an agreement or in respect of a certificate is paid, or any amount repayable under an agreement or a certificate is transferred, in purported pursuance of this Regulation, the repayment or transfer shall, notwithstanding the invalidity of, or any defect in, the probate or letters of administration, be deemed for the purposes of these Regulations to have been duly made.

(3) Nothing in this Regulation shall affect the operation of any nomination which by virtue of Regulation 13 hereof applies to the amount repayable under an agreement and to certificates.