The National Savings Regulations 2015

Transfers of deposits

32.—(1) A depositor may apply to transfer deposits held in the depositor’s name—

(a) into the name of any other depositor; or

(b) into an account to be opened in the name of any person entitled to make deposits.

(2) An application to transfer deposits must be made in the approved form and be accompanied by the deposit book relating to the deposits (if one was issued), unless directed otherwise by the Director of Savings.

(3) The Director of Savings may effect the transfer on being satisfied as to the title of the applicant to transfer the deposits.

(4) The death of an applicant shall not of itself terminate the authority for a transfer to be made; but if the Director of Savings receives notice before the transfer is effected that the applicant has died, the transfer must not be made.

(5) In relation to the account of a deceased depositor—

(a) the legal personal representative of the depositor, or

(b) any person entitled to payment under these Regulations of any amount held in the name of the depositor at the time of the depositor’s death,

may apply to transfer the amount into that person’s name or that of another person.