The National Savings Bank (Amendment) (No.4) Regulations 1982

Statutory Instruments

1982 No. 1762

SAVINGS BANKS

The National Savings Bank (Amendment) (No.4) Regulations 1982

Made

7th December 1982

Laid before Parliament

20th December 1982

Coming into Operation

31st January 1983

The Treasury, in exercise of the powers conferred on them by section 2(1) of the National Savings Bank Act 1971 and of all other powers enabling them in that behalf, hereby make the following Regulations:—

1.  These Regulations may be cited as the National Savings Bank (Amendment) (No. 4) Regulations 1982, and shall come into operation on 31st January 1983.

2.  The National Savings Bank Regulations 1972(1) shall be amended in Regulation 22 by substituting for paragraph (1) the following paragraphs:—

   

“(1) Withdrawal of ordinary deposits may be made without previous notice:—

(a) at any savings bank office to an amount not exceeding £100 in cash;

(b) at any savings bank office to an amount not exceeding £250, where the amount (if any) obtained by the depositor in cash does not exceed £100 and any amount withdrawn which is not so obtained is retained by the paying officer for or towards payment on behalf of the depositor of a sum payable to a person other than the depositor; or

(c) at a savings bank office designated for the purpose of this Regulation, in accordance with paragraph (1A) below, to an amount not exceeding £250 in cash:

Provided that—

(i) a withdrawal may not be made under this Regulation if, as regards any particular office, payment at that office would inconvenience the business of that office;

(ii) the depositor shall attend in person to make the application and shall produce the deposit book;

(iii) the depositor shall sign a receipt in the approved form and, if required by the paying officer, such signature shall be made in that officer's presence;

(iv) the deposit book may be retained by the paying officer for transmission to the Director of Savings, who shall return it in due course to the depositor except when the account is closed;

(v) not more than one withdrawal may be made under this Regulation from any one account on any one day;

(vi) when savings bank business is being transacted in any of Her Majesty's ships or at any naval establishment, a depositor serving in the Royal Navy or in the Royal Marines, or an officer or member of a society (the members whereof are persons serving in the Royal Navy or in the Royal Marines) who is recognised by the Director of Savings in that behalf may withdraw in any such ship or establishment a sum not exceeding £100 in pursuance of this Regulation, and paragraph (iv) of this proviso shall not apply to such withdrawal.

   

(1A) The Director of Savings may designate a savings bank office in respect of an account, in response to an application by a depositor in the approved form, if the depositor has transacted savings bank business at that office at any time during the period of six months ending on the date on which the application is made.”.

   

John Selwyn Gummer

Robert Boscawen

Two of the Lords Commissioners of Her Majesty's Treasury

7th December 1982

EXPLANATORY NOTE

These Regulations, which amend the National Savings Bank Regulations 1972 with effect from 31st January 1983, increase from £100 to £250 the amount of ordinary deposits which a depositor may withdraw from a savings bank office in any one day without previous notice where he is making use of one of two new facilities. Under the “Paybill” facility a depositor will not be able to obtain any increased sum in cash but will be able to withdraw up to £250 for the purpose of making immediate payments through the Post Office. Under the “Regular Customer Account” facility a depositor may apply to the Director of Savings for the designation of a savings bank office which the depositor has used at some time during the six months before his application. Such a designation will enable the depositor to withdraw up to £250 in cash at the savings bank office from the account specified in the designation.

(1)

the relevant amending instrument is S.I. 1980/619.