The Contracting Out (Functions Relating to National Savings) Order 1998

Citation and commencement

1.—(1) This Order may be cited as the Contracting Out (Functions Relating to National Savings) Order 1998.

(2) This Order shall come into force on the day after the day on which it is made.

Interpretation

2.  In this Order—

“the 1971 Act” means the National Savings Bank Act 1971(1);

“the 1972 Act” means the National Debt Act 1972(2);

“the Director” means the Director of Savings;

“the functions” means those functions of the Director relating to the Department for National Savings conferred by:

(a)

sections 1(2), 5(1A)(3) and 6(3)(4) of the 1971 Act;

(b)

sections 2(2)(5), 7(1)(6) and 12 of the 1972 Act; and

(c)

statutory instruments made under sections 2, 3(2), 4, 6(1), 7(2), 8, 9(1) and 15(3) of the 1971 Act and sections 3, 6 and 11 of the 1972 Act.(7)

Contracting out of functions

3.—(1) Subject to paragraph (2) below, the functions, or any of them, may be exercised by, or by employees of, such person (if any) as may be authorised in that behalf by the Director.

(2) Paragraph (1) above does not apply to the functions listed in the Schedule to this Order.

Jim Dowd

Graham Allen

Two of the Lords Commissioners of Her Majesty’s Treasury

11th June 1998