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The National Savings Bank (Amendment) (No. 2) Regulations 1996

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4.  Regulation 2(1) shall be amended—

(a)by inserting after the definition of “approved” the following—

  • “authorised signatories” has the meaning given by regulation 29E(3) below;

  • “authorised telephone procedure” has the meaning given by regulation 29K(1) below;;

(b)by inserting after the definition of “depositor serving in the Royal Navy or in the Royal Marines” the following—

“electronic transfer” means an approved system of transferring money to a bank account by means of electronic or automated processes which do not involve the delivery and collection of a payable instrument or the delivery of cash;;

(c)by inserting after the definition of “friendly society” the following—

“incorporated friendly society” means a society incorporated under the Friendly Societies Act 1992(1);;

(d)by inserting after the definition of “mentally disordered person” the following—

  • “name”, used in connection with an unincorporated body of persons, includes any description which the Director of Savings considers sufficient to identify the body;;

(e)by inserting after the definition of “ordinary deposit” the following—

“organisation” means a body corporate, a corporation sole, or an unincorporated body of persons;

“principal office of the National Savings Bank” means —

(a)

in connection with the business of treasurer’s accounts, the office of the National Savings Bank which is the principal office for the transaction of that business, and

(b)

in connection with other business, the office of the National Savings Bank which is the principal office for the transaction of that business;

“proper officer”, used in connection with an organisation and in relation to a treasurer’s account, has the meaning given in regulation 29D below;; and

(f)by inserting after the definition of “savings certificate” the following—

“treasurer’s account” means an account of investment deposits made under regulation 29A below;.

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