Notice of trust not receivable by Director of SavingsU.K.
71.—(1) For the purposes of these Regulations—
(a)no notice of a trust can be received by the Director of Savings in relation to a bond;
(b)no notice of a charge, trust or other equitable interest can be received by the Director of Savings in relation to—
(i)a certificate; or
(ii)a children’s certificate;
(c)the Director of Savings, or a person acquiring an interest in a certificate, shall not be affected with notice of—
(i)a trust;
(ii)the fiduciary character of a holder; or
(iii)a fiduciary obligation attaching to the holding of the certificate,
by reason that the certificate is held in the name of a person as trustee, whether jointly with another person or solely.
(2) As to stock, see regulation 35.
Commencement Information
I1Reg. 71 in force at 6.4.2015, see reg. 1(1)