Accounts of building societies, industrial and provident societies and corporations
16.—(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(a)a building society within the meaning of the Building Societies Act 1986(1) (or under enactments repealed by that Act);
(b)in the name of a society registered under the Industrial and Provident Society Act 1965(2), the Industrial and Provident Societies Act (Northern Ireland) 1969(3) or the Co-operative and Community Benefit Societies and Credit Unions Act 2010(4); 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.