http://www.legislation.gov.uk/uksi/2001/2616/contents/made

The National Savings Stock Register (Amendment) Regulations 2001

Local Government

King's Printer of Acts of Parliament

2011-07-04

NATIONAL DEBT

These Regulations amend regulation 22 of the National Savings Stock Register Regulations 1976 to provide that:—(by new paragraph (1A)), an application for payment of an amount repayable in respect of stock implies authority to the Director of Savings to make payment by such means (if any), other than by warrant, as may be provided for in the terms and conditions subject to which stock is held;(by new paragraph (1B)), such authority is not terminated by the death of the applicant, but requires the Director not to initiate payment (or, if already initiated, requires him to take any reasonable steps to prevent completion of the payment) if he receives notice that the applicant has died or countermanded the authority; and(by new paragraph (1)), the presumption in favour of payment by warrant is disapplied to the extent that the amount payable is used to invest in any other form of National Savings but otherwise authority to make payment by warrant is unaffected, except that it is made subject to any such terms and conditions.