PART 2 Deposits in the National Savings Bank

CHAPTER 2 Accounts and transactions

16 Accounts of building societies, industrial and provident societies and corporations
1 This regulation applies only in relation to an account opened before 1st January 1990.
2 A deposit may be made in the name of—
(a) a building society within the meaning of the Building Societies Act 1986 (or under enactments repealed by that Act);
1986 c. 53.
(b) in the name of a society registered under the Industrial and Provident Society Act 1965, the Industrial and Provident Societies Act (Northern Ireland) 1969 or the Co-operative and Community Benefit Societies and Credit Unions Act 2010; or
1965 c.12.
1969 c.24.
2010 c. 7.
(c) subject to the approval of the Director of Savings, in the name of any other body corporate or in the name of a corporation sole.
3 In the case of a corporation sole, a declaration in the approved form must be made by the person constituting the corporation.
4 An application to withdraw or transfer deposits must be made—
(a) in the case of a society or other body corporate—
(i) under its seal;
(ii) by the secretary or treasurer; or
(iii) by two of the directors;
(b) in the case of a corporation sole, by the person constituting the corporation.