The Savings Certificates (Amendment) Regulations 1994

3.  In regulation 2(1)—

(a) for the definition of “amount repayable” there shall be substituted the following—

““amount repayable” and “the amount repayable”, include—

(a) in relation to any money value certificate, any part of the purchase price of that certificate which is repayable separately from the rest of that price under the relevant prospectus, and any interest or bonus or other sum which has accrued due in respect of that certificate or that part of the purchase price which is to be repaid as the case may be, and

(b) in relation to any certificate of a unit series, any interest or bonus or other sum which has accrued due in respect of that certificate;”;

(b) after the definition of “mentally disordered person” there shall be inserted the following—

““money value series” means any series of certificates issued under a prospectus which permits certificates to be issued for amounts which are neither a unit nor a multiple of a unit and “money value certificate” means a certificate of such a series;”;

(c) after the words “a certificate” in the definition of “unit certificate” there shall be inserted the words “of a unit series”; and

(d) at the end there shall be inserted the following—

“and “unit series” means any series of certificates which is not a money value series.”.