Post Office Act 1969

94 The National Savings Bank

(1) On the appointed day, section 1 of the [1954 c. 62.] Post Office Savings Bank Act 1954 (which empowers the Postmaster General to authorise his officers, or others, to receive and repay deposits) shall cease to have effect; but, as from the beginning of that day, the establishment which exists in consequence of the enactment of that section shall, by the name of the National Savings Bank, continue in existence for the receipt and repayment of deposits, and its business shall be carried on by the Director of Savings.

(2) Accordingly, as from the appointed day, in the Post Office Savings Bank Acts 1954 and 1966 and in the following provisions of this Act the expression " deposit" (when used as a noun) shall be taken to refer to a deposit with the National Savings Bank and the expression " depositor " shall (save in so far as the context otherwise requires) be construed accordingly, and—

(a) the provisions of the [1954 c. 62.] Post Office Savings Bank Act 1954 specified in column 1 of Part I of Schedule 6 to this Act shall have effect subject to the amendments respectively specified in relation thereto in column 2 of that Part;

(b) the provisions of the [1966 c. 12.] Post Office Savings Bank Act 1966 specified in column 1 of Part II of that Schedule shall have effect subject to the amendments respectively specified in relation thereto in column 2 of that Part;

(c) the enactments specified in column 1 of Part III of that Schedule shall have effect subject to the amendments respectively specified in relation thereto in column 2 of that Part; and

(d) any reference to the Postmaster General in a nomination executed under regulations made, or having effect as if made, under section 2 of the Post Office Savings Bank Act 1954 shall be construed as referring to the Director of Savings.

(3) The amendment of section 27 of the [1947 c. 44.] Crown Proceedings Act 1947 effected by virtue of subsection (2)(c) above is an amendment of that section as well in its application to the Crown in right of Her Majesty's Government in Northern Ireland as in its application to the Crown in right of Her Majesty's Government in the United Kingdom.

(4) Without prejudice to the operation of section 37 of the [1889 c. 63.] Interpretation Act 1889 (which relates to the exercise of statutory powers between the passing and commencement of an Act), the power conferred by section 2 of the Post Office Savings Bank Act 1954, as amended by Schedule 6 to this Act, and that conferred by section 2 of the Post Office Savings Bank Act 1966, as so amended, may each be exercised at any time after the passing of this Act as if so much of that Schedule as amends those sections had come into operation on the passing of this Act, but so that regulations made in exercise of the power conferred by the one section or the other, as so amended, shall not come into operation before the appointed day.