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The National Savings (No. 2) Regulations 2015

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This is the original version (as it was originally made).

Notice of trust not receivable by Director of Savings

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71.—(1) For the purposes of these Regulations—

(a)no notice of a trust can be received by the Director of Savings in relation to a bond;

(b)no notice of a charge, trust or other equitable interest can be received by the Director of Savings in relation to—

(i)a certificate; or

(ii)a children’s certificate;

(c)the Director of Savings, or a person acquiring an interest in a certificate, shall not be affected with notice of—

(i)a trust;

(ii)the fiduciary character of a holder; or

(iii)a fiduciary obligation attaching to the holding of the certificate,

by reason that the certificate is held in the name of a person as trustee, whether jointly with another person or solely.

(2) As to stock, see regulation 35.

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