3.—(1) A nomination shall be of no effect unless it is sent to the Directorof Savings during the lifetime of the nominator.
(2) The Director of Savings may in his discretion refuse to accept anynomination received by him, and upon a notification of the refusal ofthe Director of Savings to accept a nomination being sent to thenominator, the nomination shall be of no effect.
(3) The Director of Savings shall retain every nomination made before1st May 1981 and received by him, and shall, as soon as may be after thereceipt of such a nomination, send to the nominator (whether by post orotherwise) an acknowledgement of the receipt of the nomination and, ifthe Director of Savings refuses to accept the nomination, a notificationof his refusal.