http://www.legislation.gov.uk/id/uksi/1984/779

http://www.legislation.gov.uk/uksi/1984/779/regulation/12/made

The Savings Certificates (Yearly Plan) Regulations 1984

Westlaw

King's Printer of Acts of Parliament

2011-04-05

NATIONAL DEBT

These Regulations contain provisions relating to the making and recording of agreements for the purchase of National Savings Certificates by installments. The main provisions of the Regulations are as follows:agreements may be entered into only by individuals aged seven or more, and by not more than two trustees (Regulation 4); and the maximum payment permitted by or on behalf of any one person is £100 per month (Regulation 5);transfers of agreements may only be made at the discretion of the Director of Savings (Regulation 12);certain nominations previously made in respect of National Savings Certificates will apply to certificates purchased under the agreements (Regulation 13);in case of the death of a person who had entered into an agreement, payment may be made to his personal representative (Regulations 14) or, where the amount repayable does not exceed £5,000, payment may be made without a grant of representation to the persons specified in Regulation 15;disputes are to be referred to the Chief Registrar of Friendly Societies (Regulation 23);no notice of trust is receivable by the Director of Savings in respect of an agreement or certificates purchased thereunder (Regulation 24);the Treasury and the Director of Savings are indemnified in respect of payments duly made and acts duly done under the Regulations (Regulation 27).

The Savings Certificates (Yearly Plan) Regulations 1984

reg.23(5)

The Savings Certificates (Yearly Plan) (Amendment) Regulations 1992

reg.2(3)

The Savings Certificates (Yearly Plan) Regulations 1984

reg. 7(5A)-(5C)

The Savings Certificates (Yearly Plan) (Amendment) Regulations 1991

The Savings Certificates (Yearly Plan) Regulations 1984

reg. 7A

The Savings Certificates (Yearly Plan) (Amendment) Regulations 1989

The Savings Certificates (Yearly Plan) Regulations 1984

reg.31(3)

(4)

The Savings Certificates (Yearly Plan) (Amendment) Regulations 1997

reg.2

The Savings Certificates (Yearly Plan) Regulations 1984

reg.31(3)

(4)

The Savings Certificates (Yearly Plan) (Amendment) Regulations 1997

reg.2

The Savings Certificates (Yearly Plan) Regulations 1984

Regulations

The National Savings (No. 2) Regulations 2015

Sch. 2

reg. 1(1)

TRANSFERS AND ADDITION OF NAMES

Transfers and addition of names12

1

The Director of Savings may in his discretion refuse to transfer the terms of an agreement or a certificate and in the case of an application to transfer the terms of an agreement shall not effect such a transfer other than into the name of another sole person. The Director of Savings shall, if he so refuses, forthwith send an intimation of his refusal to the person desiring the transfer.

2

Every transfer of the terms of an agreement or a certificate shall be effected by the Director of Savings causing the name of the person to whom the terms of the agreement is to be transferred or the name or names of the person or persons to whom the certificate is to be transferred to be recorded:

Provided that nothing in this paragraph shall affect any right of a nominee.

3

The terms of an agreement and a certificate shall not be transferred except on a written application in that behalf made, in a manner approved by the Director of Savings, by either the person to whom the terms of the agreement apply or the holder of the certificate as the case may be, and every such application must in the case of a certificate, except where the Director of Savings otherwise directs, be accompanied by the relevant certificate.

4

On the receipt of an application duly made for the transfer of the terms of an agreement or a certificate, the Director of Savings, if he is satisfied that the transfer can lawfully be made under these Regulations and ought to be made, shall forthwith cause the terms of the agreement or the certificate as the case may be to be transferred in accordance with the application, and the death of the applicant shall not of itself determine the authority given by the applicant for the transfer to be made; but if the Director of Savings receives notice before the terms of the agreement or the certificate as the case may be is transferred that the applicant has died, the transfer shall not be made.

5

The Director of Savings may, if he thinks fit and subject to the provisions of the Regulations—

a

on the application of a trustee to whom the terms of an agreement apply cause the name of another trustee to be recorded together with the applicant as the persons to whom the terms of the agreement jointly apply; or

b

on the application of the holder of a certificate cause the names of any persons to be recorded as joint holders of the certificate with the applicant.

6

The foregoing provisions of this Regulation shall, so far as applicable, apply, in the event of the death of a person to whom the terms of an agreement apply or the holder or a certificate, to the transfer of the terms of the agreement or of the certificate, as the case may be, and, in particular, any person to whom the amount repayable in respect of the certificate may be paid in accordance with the provisions of these Regulations may, subject to the provisions of these Regulations, instead of obtaining payment of the amount repayable, apply for the transfer of the terms of the agreement or the certificate as the case may be into his name or the name of another person.