The Savings Certificates Regulations 1991

Indemnity of Treasury, Director of Savings and officers

27.—(1) The Treasury, the Director of Savings and any person acting underhis authority shall not be liable in respect of any payment duly made oract duly done in accordance with these Regulations, and any such paymentshall, subject to the provisions of these Regulations for saving therights of third parties, be deemed to have been a valid payment, and thereceipt of the person to whom the money was paid shall be a fulldischarge to the Treasury and the Director of Savings for the amount ofthe payment.

(2) Where a warrant for payment of any amount repayable in respect of acertificate is issued payable to some person being neither the holder ofthe certificate nor a person otherwise entitled under these Regulationsto receive payment in respect thereof, then, if it is shownthat—

(a) the warrant was issued in good faith and without negligence;and

(b) the issue of the warrant to that person is attributable to some actor omission on the part of the holder or a person so entitled,

the warrant shall, subject to the provisions of these Regulationsfor saving the rights of third parties, be deemed to have been dulyissued to a person so entitled.