ISSUE AND PURCHASE OF CERTIFICATES

Persons entitled to purchase and hold certificates4

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1

A certificate may be purchased on behalf of and in the name of any person who has not attained the age of sixteen years by any other person who has attained the age of sixteen years, and is not under any legal disability, or by any two or more such persons.

2

Any certificate purchased under paragraph 1 shall be deemed to be held by the person on whose behalf it is purchased but no certificate shall be purchased on behalf of and in the name of more than one person.

3

A certificate may not be purchased or held by a person acting as trustee on behalf of any other person.

4

A certificate may be held by a person who has attained the age of sixteen years and who is not under any legal disability.

5

The Director of Savings may require a specimen of the signature of a person on whose behalf a certificate has been purchased at any time after that person has attained the age of sixteen years.