The Savings Certificates Regulations 1991

PRELIMINARY

Citation and commencement

1.  These Regulations may be cited as the Savings CertificatesRegulations 1991 and shall come into force on 17th May 1991.

Interpretation

2.—(1) In these Regulations, unless the context otherwiserequires—

• “amount repayable”, in relation to any certificate, includes any interest or bonus orother sum which has accrued due in respect of that certificate;

• “certificate” means a certificate issued under the name of a war savingscertificate or a national savings certificate by the Treasury throughthe department of the Postmaster General or under the auspices of theDirector of Savings for the purpose of raising money authorised to beraised by any Act;

• “Chief Registrar of friendly societies” means the Chief Registrar of friendly societies or a deputyappointed by him;

• “friendly society” means a friendly society registered under the Friendly SocietiesAct 1974(1) or a branch registered under that Act of a friendlysociety so registered;

• “index-linked certificate” means a certificate issued under the name of an index- linkednational savings certificate;

• “mentally disordered person”, in the application of these Regulations to England and Wales,means a person who is incapable, by reason of mental disorder within themeaning of the Mental Health Act 1983(2), of managing and administering his property andaffairs;

• “multiple certificate” means a certificate representing more than one unit certificate;

• “receiver”, in the application of these Regulations to England and Wales,means, in relation to any act or thing done in respect of a mentallydisordered person, a receiver or other person authorised in that behalfunder Part VII of the Mental Health Act 1983;

• “Treasury Solicitor” means the Solicitor for the affairs of Her Majesty’s Treasury; and

• “unit” means, in relation to certificates of any series, the minimumamount for which a certificate of that series is issued or would, apartfrom the minimum purchase requirement applicable to non index-linkedcertificates issued after 31st March 1977 but not later than 28thJanuary 1979, have been issued and“unit certificate” means a certificate issued on payment of such minimum amount.

(2) Unless the context otherwise requires references to regulations andSchedules are references to regulations of and Schedules to theseRegulations.

(1)

1974 c. 46; section 7 (societies which may beregistered) was amended by Part I of Schedule 9 to the Finance (No. 2)Act 1975 (c. 45), section 57(2) of the Finance Act 1980 (c. 48), section73(4) of the Finance Act 1984 (c. 43), Part V of Schedule 27 to theFinance Act 1985 (c. 54) and section 844 of and paragraphs 13 and 32 ofSchedule 29 to the Income and Corporation Taxes Act 1988 (c. 1).

(2)

1983 c. 20.