Limit on amount of stock which may be purchased on any one day
7.—(1) Subject to the provisions of this and the next following Regulation, no person shall be entitled to purchase on any one day stock of any one description exceeding £5,000 in value.
(2) The limitation imposed by paragraph (1) of this Regulation shall not apply where the stock is to be purchased—
(a)with moneys received by the applicant in respect of stock on the register sold or redeemed or national savings certificates repaid or redeemed;
(b)with moneys transferred to the applicant from the account in a savings bank of a deceased depositor;
(c)by a registered friendly society or a branch thereof within the meaning of the Friendly Societies Act 1974;
(d)by a society incorporated under the Building Societies Act 1962 or under the enactments repealed by that Act;
(e)by a society registered or deemed to be registered under the Industrial and Provident Societies Act 1965;
(f)with the approval of the Commissioners, and subject to such conditions as they may require, by the trustees or treasurers of any charitable or provident institution or society or of any penny savings bank;
(g)by the Public Trustee;
(h)with the approval of the Director of Savings, and subject to such conditions as he may require, by a responsible officer of any government department or office in his official capacity;
(i)by the registrar of a county court in England, a sheriff clerk in Scotland, or a Clerk of the Crown and Peace in Northern Ireland, by virtue of or in pursuance of any enactment in that behalf.