Trustee Savings Banks Act 1981
1981 CHAPTER 65
An Act to consolidate the Trustee Savings Banks Act 1969 to 1978, with amendments to give effect to recommendations of the Law Commission and the Scottish Law Commission.
30th October 1981

Establishment of trustee savings banks

1, 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ss. 1, 2 repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 3, 12, Sch. 1

3 Certification of a trustee savings bank.
(1)(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 3(1)(2) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 3(3) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2 Sch. (subject to a saving in art. 3)

General provisions

4, 5. Title of a trustee savings bank.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ss. 4, 5 repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 4, 12, Sch. 1

6
(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 6(1) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 6(2) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2 Sch. (subject to a saving in art. 4)

7 The Central Board.
(1)(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 7(1)(2) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2, Sch.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 7(3) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 7(4) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2, Sch.
(5)(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 7(5)(6) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1

8—11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ss. 8–11 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1

12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 12 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5), and S.I. 1988/1168, art. 2(a)

13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 13 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5), S.I. 1986/1223, arts. 2(a), 12, Sch. 1 and S.I. 1988/1168 art. 2(b)

14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 14 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1

15
(1)—(8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 15(1)–(8) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
(9)(10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 15(9)(10) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, arts. 2, Sch. (subject to a saving for s. 15(9) in art. 5)
(11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 15(11) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1

16
(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 16(1) repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 5, 12, Sch. 1
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 16(2) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2, Sch. (subject to a saving in art. 6)
(3)(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 16(3)(4) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 5, 12, Sch. 1

17, 18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ss. 17, 18 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1

19
(1)—(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 19(1)–(4) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 19(5) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2, Sch.

20—22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ss. 20–22 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1

23, 24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ss. 23, 24 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and by S.I. 1988/1168, art. 2(b)

25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 25 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5), S.I. 1986/1223, arts. 2(a), 12, Sch. 1 and S.I. 1988/1168 art. 2(b)

26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 26 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 6, 12, Sch. 1

27, 28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ss. 27, 28 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 7, 12, Sch. 1

29 Deposits by, and payments to, certain institutions etc.
(1) Without prejudice to the provisions of section 31 of the Industrial and Provident Societies Act 1965 and section 31 of the Industrial and Provident Societies Act (Northern Ireland) 1969 (which deal with the investment powers of registered societies), the treasurer of any charitable or provident institution or society, or charitable donation or bequest for the maintenance, education or benefit of the poor, or of any penny savings bank, may invest the funds of the institution or society in the funds of a trustee savings bank.
1965 c. 12.
1969 c. 24 (N.I)
(2) Where a payment is made by a trustee savings bank to a trustee, treasurer or other officer of a provident institution or society or of a charity, friendly society or penny savings bank who is apparently authorised to require that payment, his receipt shall be a sufficient discharge, and neither the trustee savings bank nor any of its trustees or officers shall be responsible for any misapplication or for any want of authority of the person requiring or receiving the payment.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 29 repealed (with saving for subsections (1) and (2)) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 8, 9, 12, Sch. 1 (arts. 8 and 9 providing as follows: “8. Notwithstanding the repeal of subsection (1) of section 29 of the 1981 Act, any funds which are pursuant to that subsection invested before the vesting day in the funds of a trustee savings bank may continue on and after the vesting day to be invested with the successor bank. 9. Nothing in the repeal of subsection (2) of section 29 of the 1981 Act shall affect the continued operation of that subsection but on and after the vesting day the subsection shall apply as if any reference to a trustee savings bank or to the trustees or officers of such a bank were or included (as the case requires) a reference to the successor bank.”)

30—50. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Ss. 30–50 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 10, 12, Sch. 1

51 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 51 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1988/1168, art. 2(c)

52 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 52 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1

53 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 53 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1988/1168, art. 2(c)

54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 54 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2, Sch.

55
(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 55(1)(3) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, art. 2(a), Sch. 1
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 55(2)(4) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2, Sch.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 56 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2, Sch.

57 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
S. 57 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2, Sch.

SCHEDULES
Schedule 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 1 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
Schedule 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 2 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5), S.I. 1986/1223, arts. 2(a), 11, 12, Sch. 1 and S.I. 1990/1982, art. 2, Sch.
Schedule 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 3 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1988/1168, art. 2(d)
Schedule 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 4 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
Schedule 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 5 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1988/1168, art. 2(d)
Schedule 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 6 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, art. 2(a), Sch. 1 (and also expressed to be repealed by Insolvency Act 1985 (c. 65, SIF 66), Sch. 10 Pt. III)
Schedule 7 1—4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 7 paras. 1–4 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1990/1982, art. 2, Sch.
5—8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 7 paras. 5–8, 9(1)repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
9 (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 7 paras. 5–8, 9(1)repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 7 para. 9(2) repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4) and S.I. 1988/1168, art. 2(d)
10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 7 para. 10 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4) and S.I. 1986/1220, art. 2(a), Sch. 1
11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 7 para. 11 repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 7 para. 12 repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1220, art. 2(a) Sch. 1, 1986/1223 arts. 2(a), 12, Sch. 1
13—15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 7 paras. 13–15 repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1
Schedule 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Sch. 8 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110), s. 4(3)(4)(5) and S.I. 1986/1223, arts. 2(a), 12, Sch. 1

Act repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110), ss. 4(3), 7(3), Sch. 4, the repeal by virtue of s. 4(3) being brought into force by S.I.s 1986/1220, 1986/1223, 1988/1168 and 1990/1982 as specified below