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The Saving Gateway Accounts Regulations 2009

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Account ceasing to be a Saving Gateway account (and rollover certificates)

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8.—(1) An account ceases to be a Saving Gateway account—

(a)on the death of the account holder;

(b)for the purposes of section 8(4) of the Act, when the account provider has credited the account with the amount of the maturity payment, or otherwise paid the maturity payment to the account holder; or

(c)for all other purposes, at the end of the maturity period for the account.

(2) Where an account ceases to be a Saving Gateway account under paragraph (1)(c) for the purposes there mentioned (“on maturity”), if the account holder so requires by notice to the account provider, given within 6 months of that date, the account provider shall give to the account holder a certificate containing the information mentioned in paragraph (3) and the declaration mentioned in paragraph (4).

(3) The information mentioned in this paragraph is—

(a)the account holder’s full name;

(b)his or her permanent address including postcode;

(c)the name of the account provider with which the account was held on maturity;

(d)the number allocated to it by that account provider;

(e)the date on which it matured; and

(f)the credit balance of the account (if any) on maturity, and the amount of the maturity payment made or to be made.

(4) The declaration mentioned in this paragraph is a declaration by the account provider that the account was a Saving Gateway account throughout its maturity period and that the information given in the certificate is correct.

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