PART 2Deposits in the National Savings Bank

CHAPTER 2Accounts and transactions

Accounts of building societies, industrial and provident societies and corporations16

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a building society within the meaning of the Building Societies Act 198614 (or under enactments repealed by that Act);

b

in the name of a society registered under the Industrial and Provident Society Act 196515, the Industrial and Provident Societies Act (Northern Ireland) 196916 or the Co-operative and Community Benefit Societies and Credit Unions Act 201017; or

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.