The National Savings Regulations 2015

Nominations made before 1st May 1981

49.—(1) For the purposes of these Regulations a nomination made after 30th April 1981 has no effect.

(2) A “nomination” means a nomination—

(a) by a depositor (the “nominator”) who at the time of the nomination had attained the age of sixteen years;

(b) that was made before 1st May 1981; and

(c) that was accepted and recorded or registered by the Director of Savings,

directing that, on death, the nominator’s interest devolve on one or more persons (the “nominee” or “nominees”) according to the manner specified in the nomination.

(3) In relation to deposits, a nomination made before the coming into force of these Regulations extends to—

(a) all amounts to which a nominator is entitled at the time of death in relation to a savings bank annuity or insurance; and

(b) to deposits held in the name of the nominator,

unless any such amount or deposit is expressly excluded in the nomination.

(4) A person who attested the signature of a nominator of a nomination may not benefit under the nomination.