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12. In regulation 31 (persons under a disability)—
(a)in paragraph (1)—
(i)for “seven years” substitute “sixteen years” in each place where it occurs;
(ii)in sub-paragraph (b), for “who satisfies him that he is a proper person to receive payment”, substitute “who appears to the Director of Savings to be responsible for the welfare of the minor.”;
(b)after paragraph (4) insert—
“(5) If the conditions specified in paragraph (6) are satisfied in relation to the holder of National Savings Income Bonds, paragraph (1) has effect as if the reference to “sixteen years” was a reference to “seven years”.
(6) The conditions are that—
(a)an application to subscribe for National Savings Income Bonds was received by the Director of Savings in the approved form before 6th April 2013; and
(b)the holder attained the age of seven years before 6th April 2013.”.
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