Search Legislation

National Savings Bank Act 1971

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As enacted)

Status:

This is the original version (as it was originally enacted). This item of legislation is currently only available in its original format.

22Investment of investment deposits

(1)The balance of the sums credited to the Investment Account Fund over the sums debited to the Fund shall from time to time be paid over to the Commissioners for investment, in accordance with any directions given by the Treasury, in any such manner for the time being specified in Part II of Schedule 1 to the Trustee Investments Act 1961 as the Treasury may by order specify.

(2)Any sums received by the Commissioners in respect of investments made under this section shall, in accordance with any directions given by the Treasury, be re-invested under this section or paid over to the Director of Savings and credited to the Fund.

(3)The Commissioners shall keep a separate account of all receipts, investments and payments under this section and shall furnish to the Director of Savings such statements of and information as to those investments at such times as may be agreed between them.

(4)Where the investments specified in an order under this section include investment in the manner specified in paragraph 9 of Part II of Schedule 1 to the Trustee Investments Act 1961, the provisions of Schedule 1 to this Act shall apply with respect to any loan made in pursuance of the order to any such authority as is specified in sub-paragraphs (a) to (c) and (e) of the said paragraph 9.

(5)The power to make an order under this section includes power to vary or revoke any such order by a subsequent order.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources