The National Savings (No. 2) Regulations 2015

1. Introductory Text

2. PART 1

   1. 1. Citation, commencement and extent

   2. 2. Interpretation

3. PART 2

   1. CHAPTER 1

      1. 3. Issue, purchase and registration of bonds

      2. 4. Persons entitled to purchase and hold bonds

      3. 5. Maximum holding of bonds

   2. CHAPTER 2

      1. 6. Applications for payment

      2. 7. Making payments

      3. 8. Payments to minors under sixteen years of age

      4. 9. Payments to persons who lack capacity

      5. 10. Payments in the case of bankrupts

   3. CHAPTER 3

      1. 11. Terminating investment in bonds

      2. 12. Prize fund interest rate changes and changes in the scale of prizes

      3. 13. Change in the publication of the serial numbers of winning bonds

      4. 14. Notification of winners

4. PART 3

   1. CHAPTER 1

      1. 15. Keeping of the register

      2. 16. Subscription for stock

      3. 17. Limit on total holding of stock

      4. 18. Forfeiture of stock

      5. 19. Forfeiture of new stock

      6. 20. Certificates, subscription books and records

   2. CHAPTER 2 etc.

      1. 21. Conversion

      2. 22. Redemption

      3. 23. Transfers

      4. 24. Transfer of stock to the Commissioners of Her Majesty’s Revenue and Customs in payment of duties or tax

      5. 25. Operation of a nomination

   3. CHAPTER 3

      1. 26. Payment of dividends

      2. 27. Payment of interest in relation to Fixed Rate Savings Bonds

      3. 28. Accrual of interest

      4. 29. Accrual of interest on variable interest stock

      5. 30. Making payments

      6. 31. Payments in the case of bankrupts

      7. 32. Authority for payment to third party

   4. CHAPTER 4

      1. 33. Joint holders of stock

      2. 34. Power of joint holders to act without unanimity

      3. 35. Application by holders of stock to be described in register as trustees

   5. CHAPTER 5

      1. 36. Limitations in relation to minors

      2. 37. Minors and persons under disability

5. PART 4

   1. CHAPTER 1

      1. 38. Issue, purchase and recording of certificates

      2. 39. Persons entitled to purchase and hold certificates

      3. 40. Persons entitled to hold index-linked certificates purchased before 7th September 1981

      4. 41. Limit on total holding of certificates

      5. 42. Forfeiture of certificates purchased before 20th September 2012

      6. 43. Forfeiture of rolled-over certificates and certificates purchased on or after 20th September 2012

   2. CHAPTER 2 etc.

      1. 44. Accrual of interest

      2. 45. Applications for payment

      3. 46. Applications for early repayment

      4. 47. Making payments

      5. 48. Payments to minors under seven years of age

      6. 49. Payments to persons who lack capacity

      7. 50. Payments where certificates are held by persons jointly

      8. 51. Payments to friendly societies, etc.

      9. 52. Payments in the case of bankrupts

      10. 53. Transfers and addition of names

      11. 54. Operation of a nomination

      12. 55. Application to the Channel Islands in relation to nominations

6. PART 5

   1. CHAPTER 1

      1. 56. Issue, purchase and recording of children’s certificates

      2. 57. Persons entitled to purchase and hold certificates

      3. 58. Maximum holding of certificates

      4. 59. Forfeiture of Children’s Bonus Bonds

      5. 60. Forfeiture of Children’s Bonds

   2. CHAPTER 2

      1. 61. Accrual of interest

      2. 62. No bonus on Children’s Bonds

      3. 63. Applications for payment

      4. 64. Making payments

      5. 65. Record of partial repayments

      6. 66. Payments in the case of holders under sixteen years of age

      7. 67. Payments in the case of persons who lack capacity

      8. 68. Payments in the case of bankrupts

      9. 69. Applications for early repayment

      10. 70. Prohibition on transfers

7. PART 6

   1. CHAPTER 1

      1. 71. Notice of trust not receivable by Director of Savings

      2. 72. Powers of attorney

      3. 73. Indemnity of the Treasury, Director of Savings and officers

      4. 74. Receipts to be a full discharge

      5. 75. Posting to be regarded as delivery

      6. 76. Saving for rights of third parties

      7. 77. Saving for rights of joint holders, etc.

   2. CHAPTER 2 etc.

      1. 78. Evidence of identity

      2. 79. Persons unable to write

      3. 80. Persons under disability

      4. 81. Fees for birth, death, marriage and civil partnership certificates

      5. 82. Obligation of secrecy

   3. CHAPTER 3

      1. 83. Nominations made before 1st May 1981

      2. 84. Particulars to be furnished by nominator to Director of savings

      3. 85. Revocation of nominations

      4. 86. Nominations which also apply to stock held in the books of the Bank of England

   4. CHAPTER 4

      1. 87. Law applicable on the death of a holder of a bond, stock or certificate

      2. 88. Payments under grant of representation in relation to bonds and certificates

      3. 89. Payment without a grant of representation

      4. 90. Death duties or inheritance tax chargeable on death of holders of stock or certificates

   5. CHAPTER 5

      1. 91. Payments into and from the National Savings Bank

      2. 92. Transfer of unclaimed money to the National Savings Bank

   6. CHAPTER 6

      1. 93. Defective applications

      2. 94. Loss of documents, etc.

      3. 95. Rectification of mistakes

   7. CHAPTER 7

      1. 96. Law applicable to crossed warrants

      2. 97. Application to Scotland

      3. 98. Application to Northern Ireland

      4. 99. Application to the Isle of Man

      5. 100. Application to the Channel Islands

      6. 101. Revocations and savings

      7. 102. Modifications

8. Signature

9. 1. SCHEDULE 1

      Maximum holding of certificates issued before 10th September 1985

   2. SCHEDULE 2

      Revocations

10. Explanatory Note