Premium Savings Bonds Regulations 1972
Jersey R & O 5680
National
Debt Act 1958.
National
Loans Act 1968.
Post
Office Act 1969.
____________
PREMIUM SAVINGS BONDS REGULATIONS 1972.
____________
(Registered on the 30th day of June,
1972).
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ARRANGEMENT
OF REGULATIONS.
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PRELIMINARY.
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1.
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Citation and commencement.
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2.
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Interpretation.
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ISSUE
AND PURCHASE OF BONDS.
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3.
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Issue, purchase and registration of
bonds.
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4.
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Persons entitled to purchase and hold
bonds.
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5.
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Maximum holding of bonds.
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6.
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Minimum purchase of bonds.
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PAYMENTS
IN RESPECT OF BONDS.
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7.
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Applications for payment.
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8.
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Warrants.
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9.
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Payment in case of persons under 16 years
of age.
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10.
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Payment in case of mentally disordered
persons.
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11.
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Payment in case of bankrupts.
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PAYMENT
IN CASE OF DEATH.
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12.
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Payment under grant of representation.
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13.
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Payment without a grant of
representation.
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14.
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Law applicable on holder’s death.
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MISCELLANEOUS.
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15.
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Unclaimed moneys due in respect of bonds.
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16.
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Persons under disability.
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17.
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Payments into National Savings Bank.
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18.
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Loss of bonds, etc.
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19.
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Forfeiture of bonds.
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20.
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Persons unable to write.
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21.
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Rectification of mistakes.
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22.
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Settlement of disputes.
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23.
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Notice of trust not receivable by
Director of Savings.
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24.
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Exemption from stamp duty.
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25.
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Fees for birth, death and marriage
certificates.
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26.
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Indemnity of Treasury, Director of
Savings and officers.
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27.
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Savings of rights of third parties.
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28.
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Form of documents.
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29.
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Evidence of identity, etc.
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30.
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Obligation of secrecy.
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31.
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Application to Scotland.
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32.
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Application to Northern Ireland.
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33.
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Application to the Isle of Man.
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34.
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Application to the Channel
Islands.
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35.
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Revocation and savings.
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Schedule –
Regulations revoked.
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National
Debt Act 1958.
National
Loans Act 1968.
Post
Office Act 1969.
____________
PREMIUM SAVINGS BONDS REGULATIONS 1972.
____________
THE TREASURY, in exercise of the powers
conferred on them by section 12 of the National Debt Act 1958,
as amended by section 13(6) of, and Schedule 5 to, the National Loans Act 1968
and section 110 of the Post Office Act 1969,
and of all other powers enabling them in that behalf, hereby make the following
Regulations: -
PRELIMINARY
Citation and commencement.
1. These
Regulations may be cited as the Premium Savings Bonds Regulations 1972, and
shall come into operation on 1st
July 1972.
Interpretation.
2.-(1) In these Regulations, unless the context
otherwise requires –
“bond” means a premium savings bond issued by the
Treasury, through the department of the Postmaster General or under the
auspices of the Director of Savings, for the purpose of raising money under
section 1 of the National
Loans Act 1939 or section 12 of the National Loans Act 1968;
“holder” means, in relation to a bond, the person in
whose name the bond is registered in the register kept by the Director of Savings;
“mentally disordered person”, in the application of
these Regulations to England
and Wales,
means a person who is incapable, by reason of mental disorder within the
meaning of the Mental
Health Act 1959, of
managing and administering his property and affairs;
“multiple bond” means a bond representing any number of
unit bonds and entitling the holder to receive the aggregate amount of the sums
repayable in respect of that number of unit bonds;
“receiver”, in the application of these Regulations to England
and Wales,
means, in relation to any act or thing done in respect of a mentally disordered
person, a receiver or other person authorised in that
behalf under Part VIII of the Mental Health Act 1959;
“Treasury Solicitor” means the Solicitor for the
affairs of Her Majesty’s Treasury;
“unit bond” means, in relation to bonds of any series,
a bond issued on payment of the minimum amount for which a bond of that series
would (apart from the provisions of Regulation 6 of these Regulations) be
issued.
(2) Any reference
in these Regulations to the provisions of any enactment or Regulations shall be
construed, unless the context otherwise requires, as a reference to those
provisions as amended by any other enactment or Regulations.
(3) The Interpretation Act 1889
shall apply for the interpretation of these Regulations as it applies for the
interpretation of an Act of Parliament, and as if these Regulations and the
Regulations hereby revoked were Acts of Parliament.
ISSUE AND PURCHASE OF BONDS
Issue, purchase and registration of bonds.
3.-(1) Bonds shall be issued at such places as
the Director of Savings shall determine and by such persons as he shall authorise.
(2) An application
to purchase a bond shall be made in a manner approved by the Director of
Savings, and, for the purposes of any such application, the applicant shall
deliver to the Director of Savings such documents and other information in
writing as he may require.
(3) The Director
of Savings shall cause such entries to be made in a register kept by him as are
necessary to show the names of the holders of bonds.
(4) A bond shall
not be transferable.
Persons entitled to purchase and hold bonds.
4.-(1) A bond may be purchased and held by any
person who has attained the age of sixteen years, being a person who is not
under any legal disability otherwise than by reason of his age.
(2) A bond may not
be purchased or held by more than one person or by a body of persons, whether
corporate or unincorporate.
(3) Subject to the
provisions of these Regulations, a bond may be purchased on behalf of and in
the name of a person under the age of sixteen years by his parent or guardian
or by any person who satisfies the Director of Savings that he is a proper
person to act on behalf of the first mentioned person; and any bond so
purchased shall be deemed to be held by the person on whose behalf it is
purchased.
(4) Where a bond
has been purchased on behalf of a person who was, at the date of purchase,
under the age of sixteen years, the Director of Savings may, at any time after
that person has attained the age of sixteen years, require a specimen of his
signature.
Maximum holding of bonds.
5.-(1) A person shall not purchase any bond or
hold any bond purchased on his behalf if the total number of unit bonds which
will be held by him immediately after the purchase will exceed 2,000.
(2) In calculating
for the purpose of this Regulation the total number of unit bonds which a
person holds, a multiple bond shall be taken to be such a number of unit bonds
as is represented by the multiple bond.
Minimum purchase of bonds.
6. Not
less than two unit bonds shall be purchased in the name of any one person at
any one time.
PAYMENTS IN RESPECT OF BONDS
Applications for payment.
7.-(1) Application for payment of the sum
repayable, or of any other sum payable, in respect of a bond shall (subject to
the provisions of these Regulations relating to payment in the case of special
classes of persons) be made by the holder of the bond in writing in a manner
approved by the Director of Savings.
(2) In the case of
a multiple bond, an application may be made for repayment in respect of any
number of the unit bonds represented by the multiple bond.
(3) A holder of a
bond, being a person who has attained the age of sixteen years, may, subject to
the approval of the Director of Savings, authorise
any person to apply for or receive on his behalf the sum repayable, or any
other sum payable, in respect of the bond.
Warrants.
8.-(1) Except where the Director of Savings
otherwise directs, every payment made by him in respect of a bond shall be made
by a warrant; and accordingly every application for any such payment shall be
treated as implying an authority to him to issue a warrant for the amount of
the payment and to pay it in accordance with the terms of the warrant; and the
death of the person who made the application for payment shall not of itself
determine such authority, but if the Director of Savings receives notice that
the applicant has died or has countermanded such authority, the Director of
Savings shall not issue the warrant, or, if it has already been issued, shall
take all reasonable steps to stop payment thereof.
(2) The provisions
of section 76, subsections (1), (3), (4) and (5) and, so far as it relates to
crossed cheques, subsection (6) of section 77, and sections 78, 79, 80 and 81
of the Bills of
Exchange Act 1882 (which relate to crossed cheques) and of
sections 3 and 4 of the Cheques Act 1957
(which relate to unindorsed cheques as evidence of
payment and to the protection of collect bankers) shall apply to any crossed
warrant issued under these Regulations as if the warrant were a cheque drawn on
the Director of Savings by the officer issuing the warrant, but nothing in
these Regulations shall make any such warrant negotiable.
(3) An uncrossed
warrant shall not be paid until the receipt for the amount thereby payable has
been duly signed by the payee or by some person authorised
by the payee to receive payment:
Provided that, where such a warrant is paid to a person purporting
to be the payee or to be a person authorised by the
payee to receive payment, then, notwithstanding that the receipt on the warrant
was signed by some person being neither the payee nor a person so authorised, the making of the payment shall be a full
discharge to the Treasury and the Director of Savings for the amount thereof,
if it is shown that the payment was made in good faith and without negligence,
and that the making of the payment is attributable to some act or omission on
the part of the holder of the bond to which the warrant relates or on the part
of the payee or the person so authorised.
(4) Except where
the Director of Savings otherwise directs, a warrant shall not be paid until
the bond in respect of which the payment is to be made, or any document issued
in lieu of such bond, has been produced, or, where the bond or any unit bond
represented by a multiple bond is being repaid, delivered, to the Director of
Savings.
(5) An uncrossed
warrant shall be payable at the place named in the warrant or otherwise in
accordance with the directions contained therein, and a crossed warrant shall
be payable at the office in London
of the Director of Savings or at such other place as he may direct.
(6) The posting of
a letter containing a warrant addressed to any person at the last address
furnished by him to the Director of Savings shall, as regards the liability of
the Treasury or the Director of Savings, be equivalent to the delivery of the
warrant to the person to whom the letter was addressed.
Payment in case of persons under 16 years of age.
9.-(1) Where a bond is held by a person under
the age of sixteen years, no payment shall be made to him in respect of the
bond.
(2) Any payment of
the sum repayable, or any other sum payable, in respect of a bond held by a
person under the age of sixteen years shall be made to, and on the application
of, either the person who purchased the bond on his behalf or any other person
who satisfies the Director of Savings that he is a proper person to receive
payment, as the Director of Savings may think fit.
Payment in case of mentally disordered persons.
10.-(1) An application for payment of the sum
repayable, or any other sum payable, in respect of a bond held by a mentally
disordered person shall be made by his receiver.
(2) Where it is
shown to the satisfaction of the Director of Savings that any person holding a
bond is a mentally disordered person for whom no receiver has been appointed,
the Director of Savings may, if he thinks fit, pay the whole or any part of the
sum repayable, or of any other sum payable, in respect of the bond to any
person who satisfies him that he is a proper person to receive payment.
Payment in case of bankrupts.
11. Where it is
shown to the satisfaction of the Director of Savings that a receiving order has been made against any person who is the holder
of a bond, or that a trustee has been appointed in the bankruptcy of any such
person, or that an order for the administration in bankruptcy of the estate of
a deceased holder has been made, the Director of Savings may, if he thinks fit,
on an application made in that behalf by the Official Receiver or trustee, pay to the Official Receiver or trustee,
as the case may be, the sum repayable, or any other sum payable, in respect of
the bond.
PAYMENT IN CASE OF DEATH
Payment under grant of representation.
12.-(1) In the event of the death of the holder
of a bond, the production of probate or letters of administration granted, or
having effect as if granted, in respect of personal estate comprising the bond
by a court in the United Kingdom, the Isle of Man or the Channel Islands, or of
a certified copy thereof, shall, subject to the provisions of these
Regulations, be sufficient authority to the Director of Savings to pay the sum
repayable, or any other sum payable, in respect of the bond to the person to
whom the grant was made, or as directed by that person.
(2) Where any
payment in respect of a bond is made in purported pursuance of this Regulation,
the payment shall, notwithstanding the invalidity of, or any defect in, the
probate or letters of administration, be deemed for the purposes of these
Regulations to have been duly made.
Payment without a grant of representation.
13.-(1) Where, after the death of the holder of
any bonds, probate of his will or letters of administration to his estate is
not or are not produced to the Director of Savings within such time as he
thinks reasonable in the circumstances of the case, and the amount repayable or
payable in respect of the bonds does not exceed in the aggregate £500,
the Director of Savings, if he thinks fit, may, without requiring probate or
letters of administration, pay the sum repayable, and any other sum payable, in
respect of the bonds, or any part of those sums –
(a) to a person appearing to the
Director of Savings to be entitled to take out probate of the will of the
deceased or letters of administration to his estate;
(b) where the deceased has left a will
(being a will with respect to which the Director of Savings is satisfied that
probate or letters of administration with the will annexed would be granted),
to any person to whom the sum payable or any part thereof would, in the opinion
of the Director of Savings, be payable under such will, if probate thereof or
letters of administration with the will annexed were granted;
(c) to any person who satisfies the
Director of Savings that he is entitled to receive the sum payable or any part
thereof in right of his being –
(i) a
person who has paid the funeral expenses of the deceased; or
(ii) a creditor of
the deceased; or
(iii) a person who
has a beneficial interest in the estate of the deceased;
(d) if the deceased was a British
subject and his next of kin appears to the Director of Savings to reside outside
the United Kingdom, the Isle of Man and the Channel Islands, to any officer or
authority who, in the opinion of the Director of Savings, may properly be
entrusted with the duty of distributing the sum payable;
(e) if the deceased was a seaman of a
foreign country, being a country with which a treaty has been in respect of the
payment of moneys due to seamen, to the consular authority of that country;
(f) if the deceased was a foreign
subject, not being a seaman to whom the provisions of the last preceding
sub-paragraph apply, to the consular authority of the country to which the
deceased belonged, or to such other authority as appears to the Director of
Savings to be appropriate, subject in either case to the Director of Savings
being satisfied that the sum payable will be duly distributed;
(g) in a case where the estate of the
deceased appears to the Director of Savings to have devolved upon the Crown,
the Duchy of Lancaster or the Duchy of Cornwall, to the Treasury Solicitor, the Solicitor for the affairs of the Duchy of
Lancaster or the Solicitor for the affairs of the Duchy of Cornwall, as the
case requires:
Provided that where a person to whom any sum may be paid under
sub-paragraph (b) or (c) of this paragraph has died before
payment has been made to him, that sum or any part thereof may be paid to any
person to whom it might have been paid if the first mentioned person had,
immediately before his death, been the holder of the bonds in question.
(2) Notwithstanding
any rule of law to the contrary, any person to whom a payment may be made under
sub-paragraph (b) or (c) of paragraph (1) of this
Regulation or under the proviso to that paragraph may sign a receipt therefor
if he has attained the age of sixteen years, and the receipt shall be a valid
receipt without the signature of any other person, and where any person to whom
a payment may be so made is unable, by reason of his age or for any other
reason whatsoever, to give a discharge therefor under these Regulations, the
Director of Savings may make the payment to any person who satisfies him that
he will apply it for the maintenance or otherwise for the benefit of the first
mentioned person.
(3) In this
Regulation the expression “will” includes a codicil.
Law applicable on holder’s
death.
14. Where, in
the event of the death of the holder of a bond, any payment in respect of the
bond made under these Regulations is made in accordance with the law of the
place where the holder of the bond resided at the date of his death, that
payment shall, unless notice in writing to the effect that the holder was, at
that date, domiciled in some other place has been received by the Director of
Savings before the payment was made, be deemed for the purposes of these
Regulations to have been duly made.
MISCELLANEOUS
Unclaimed moneys due in respect of bonds.
15.-(1) The Director of Savings shall from time
to time pay to the National Debt Commissioners sums equal to the aggregate
amount of all moneys due on bonds which having been entrusted to the Director
of Savings for payment are unclaimed, other than moneys in respect of which a
payment has already been made to the National Debt Commissioners.
(2) For the
purpose of the last foregoing paragraph any moneys due on bonds and not claimed
by the person entitled shall be deemed to be unclaimed if a period of five
years has elapsed since the due date, but the Director of Savings may treat any
such moneys as unclaimed before the expiration of that period.
(3) Where the
Director of Savings makes a payment under paragraph (1) of this Regulation
in respect of any moneys due on bonds, and afterwards pays those moneys to the
person entitled, the amount paid to the National Debt Commissioners in respect
of those moneys shall be repaid by them to the Director of Savings.
(4) Any sums paid
to the National Debt Commissioners under this Regulation shall be placed to
their account of unclaimed dividends, and any repayment by them to the Director
of Savings under paragraph (3) of this Regulation shall be made out of
that account.
Persons under disability.
16. If any
person holding a bond is a mentally disordered person or is under legal
disability for any other reason except his age alone, anything which under
these Regulations is required or authorised to be
done by or to the holder of the bond shall or may be done by or to the receiver
or other person having power in law to administer his estate.
Payments into National Savings Bank.
17.-(1) Where the Director of Savings is unable
for any reason to obtain a valid discharge for any payment falling to be made
to any person in respect of a bond, he may, unless other provision for dealing
with the payment has been made by any enactment, open an account in the
National Savings Bank in the name of the person to whom the payment is due, and
may, until payment can be made to the person entitled thereto, retain the
amount due in that account:
Provided that –
(a) if the person to whom the payment
is due has an account in the National Savings Bank, the Director of Savings
may, if he thinks fit, instead of opening a new account, credit the amount
payable to the existing account; and
(b) in the case of an account opened by
the Director of Savings –
(i) no
sum shall be received by way of deposit for the credit of the account except in
pursuance of these Regulations; and
(i) the
regulations requiring a declaration to be made by a depositor in the National
Savings Bank shall not apply with respect to any payment into the account by
the Director of Savings.
(2) For the
purpose of any Order under section 4 of the National Savings Bank Act
1971 (which empowers the
Treasury by order to limit that amount of deposits in the National Savings
Bank) or any Order having effect as if made under that section, regard shall
not be had to any sum credited to an account under this Regulation.
Loss of bonds, etc.
18.-(1) The loss or destruction of any document
issued by the Director of Savings in pursuance of these Regulations, or by the
Postmaster General or the Director of Savings in pursuance of any Regulations
revoked by these Regulations, shall be notified in writing to the Director of
Savings as soon as practicable by the person entitled to possession of the
document.
(2) If it appears
to the Director of Savings that any document so issued has been issued in error,
lost, destroyed or tampered with, or is in such a condition as to render it
desirable that it should be replaced by a new document, he may, subject to the
provisions of this Regulation, issue a new document in lieu of the old document
to any person who satisfies him that he is entitled to the possession of the
document.
(3) The Director
of Savings may attach to the issue under this Regulation of any new document
such conditions as to indemnity or otherwise as he thinks fit.
Forfeiture of bonds.
19.-(1) Subject to the provisions of this
Regulation, if any person –
(a) not being a person entitled under
Regulation 4 of these Regulations so to do, purchases or holds a bond; or
(b) purchases or holds any bond in
contravention of Regulation 5 of these Regulations (which prescribes the
maximum number of unit bonds which may be purchased);
the bond and any money payable in respect thereof shall, if the
Director of Savings so directs, be forfeited:
Provided that, if in any case in which the Director of Savings has
directed the forfeiture of any bonds, he is satisfied that the contravention in
question was inadvertent and that in the circumstances forfeiture will cause
undue hardship to the person concerned, he may, if he thinks fit, pay to that
person or credit to him in the National Savings Bank a sum equal to the
purchase price of the bonds forfeited.
(2) For the
purposes of any Order under section 4 of the National Savings Bank Act
1971 (which empowers the
Treasury by order to limit the amount of deposits in the National Savings Bank)
or any Order having effect as if made under that section, any sum credited to a
person under this Regulation shall, if the Director of Savings so directs, be
disregarded.
(3) Notice of any
forfeiture under this Regulation shall be sent to the person concerned as soon
as may be, and the Director of Savings may require any bond which may be or is
affected, or any document issued in lieu of such bond, to be delivered up to
him for the purpose of being either cancelled or altered or otherwise dealt
with, as may be necessary to give effect to the provisions of this Regulation.
Persons unable to write.
20. Where any
document is required by the Director of Savings or by these Regulations to be
signed by any person and that person is unable to write, it shall be sufficient
for the purposes of these Regulations if the document is marked by that person
in the presence of a witness in such manner as the Director of Savings may
require.
Rectification of mistakes.
21.-(1) Any mistake in any document received
from the Director of Savings in pursuance of these Regulations, or from the
Postmaster General or the Director of Savings in pursuance of any Regulations
revoked by these Regulations, shall, as soon as practicable, be notified in
writing to the Director of Savings by the person receiving the document.
(2) If the
Director of Savings is satisfied that any transaction effected or thing done,
or purporting to have been effected or done, in accordance with these
Regulations or any Regulations revoked by these Regulations has been effected
or done in error, he may cancel the transaction and may take all such steps as
are, in his opinion, necessary to rectify the error, and may for that purpose
require the surrender to him of any bond or other document.
Settlement of disputes.
22.-(1) If any dispute arises between the
Director of Savings and –
(a) the holder of any bond, or
(b) a person who is or claims to be the
personal representative or next of kin or creditor of a holder, or the trustee
in bankruptcy or assignee of a holder who is bankrupt or insolvent, or
(c) a person who claims to be entitled
to ay bond,
with respect to any matter (not being a matter as to which, under
the provisions of any prospectus relating to the bond, the decision of the
Director of Savings is to be final), the matter in dispute shall be referred in
writing to the Chief Registrar of Friendly Societies.
(2) On any such
reference being made, the Chief Registrar may proceed ex parte
on notice in writing sent by post to the Director of Savings, and may
administer oaths to any witnesses appearing before him.
(3) The award of
the Chief Registrar on any reference under this Regulation shall be final and
binding on all parties.
(4) Section 11 of
the National
Savings Bank Act 1971
(which empowers the Treasury to direct that fees shall be charged on certain
awards made by the Chief Registrar of Friendly Societies) shall have effect as
if the awards therein mentioned included awards made under this Regulation.
Notice of trust not receivable by Director of Savings.
23. No notice
of a trust shall be receivable by the Director of Savings in respect of a bond.
Exemption from stamp duty.
24. No stamp
duty shall be charged on –
(a) a warrant for the payment of the
sum repayable, or any other sum payable, in respect of a bond; or
(b) a power of attorney or other
document which relates to the payment or receipt of any such sum.
Fees for birth, death and marriage certificates.
25. Section 10
of the Savings
Banks Act 1887 (which relates to the price of a certificate of
birth, death or marriage required for the purpose of the Acts relating to the
National Savings Bank), as amended by any Order in force for the time being
under section 5 of the Public Expenditure and Receipts Act 1968, shall apply
for the purposes of these Regulations as it applies for the purposes of those
Acts, and for the purposes of these Regulations the said section 10 shall have
effect as if the holder of a bond or any person having an interest in a bond
were a depositor in the National Savings Bank.
Indemnity of Treasury, Director
of Savings and officers.
26.-(1) The Treasury, the Director of Savings
and any person acting under his authority shall not be liable in respect of any
payment duly made or act duly done in accordance with these Regulations, and
any such payment shall, subject to the provisions of these Regulations for
saving the rights of third parties, be deemed to have been a valid payment, and
the receipt of the person to whom the money was paid shall be a full discharge
to the Treasury and the Director of Savings for the amount of the payment.
(2) Where a
warrant for payment of the sum repayable, or any other sum payable, in respect
of a bond is issued payable to some person being neither the holder of the bond
nor a person otherwise entitled under these Regulations to receive payment in
respect thereof, then, if it is shown that –
(a) the warrant was issued in good
faith and without negligence; and
(b) the issue of the warrant to that
person is attributable to some act or omission on the part of the holder or a
person so entitled:
the warrant shall, subject to the provisions of these Regulations
for saving the rights of third parties, be deemed to have been duly issued to a
person so entitled.
Saving of rights of third parties.
27. Nothing in
these Regulations, or in any Regulations revoked by these Regulations, for the
protection of the Treasury, the Director of Savings or the Postmaster General
in respect of any act done or any money paid shall operate to prevent the
recovery by any person or his representatives of any money lawfully due to him
from the person to whom that money was paid by or under the direction of the
Director of Savings or the Postmaster General, or from the representatives of
that person, or affect the right which any person or his representatives may
have in respect of a bond against a third party.
Form of documents.
28. Where any
application is required by these Regulations to be made in a manner approved by
the Director of Savings, the document in which the application is made shall
contain a full specific statement of the particulars required to be given, and
any such document which is required by the Director of Savings to be signed by
any person shall be signed by that person.
Evidence of identity, etc.
29.-(1) The Director of Savings shall be
entitled to require evidence to be given to his satisfaction of the identity of
any person or of the title of any person to any bond, document or money, or to
require evidence that anything purporting to be done in pursuance of these
Regulations has been duly done, or otherwise with respect to any matters on
which the due exercise of his powers or performance of his duties under these
Regulations depends, and the Director of Savings may, for the purpose of
obtaining any such evidence, require a statutory declaration to be made by any
person.
(2) The Director
of Savings may accept as conclusive proof of the death of the holder of a bond
any evidence which establishes to his satisfaction the fact that the holder has
not been heard of for a period of seven years or upwards, and, for the purposes
of this paragraph, the expression “holder of a bond” includes any
person beneficially interested at any time, whether absolutely or contingently,
in the personal estate of the deceased holder of a bond.
Obligation of secrecy.
30.-(1) A person employed in connection with
business arising under these Regulations shall not disclose to any person,
other than the Director of Savings or a person employed in carrying these
Regulations into execution, the name of the purchaser or holder of any bond,
the number of bonds purchased or held by any person, or the amount paid to any
person in respect of a bond.
(2) The last
foregoing paragraph shall not prevent the disclosure by a person authorised for the purpose by the Director of Savings of
information to any person in connection with an offence committed with
reference to any bond or for the purpose of ascertaining whether or not an
offence has been so committed.
Application to Scotland.
31. In the
application of these Regulations to Scotland –
(a) any reference to a mentally
disordered person shall be construed as a reference to a person who is
incapable by reason of mental disorder within the meaning of the Mental Health (Scotland)
Act 1960 of managing and administering his property and affairs;
(b) any reference to a receiver in
relation to a mentally disordered person shall be construed as a reference to a
curator bonis, guardian, or tutor;
(c) any reference to a receiving order
shall be construed as a reference to an award of sequestration;
(d) any reference to the Official
Receiver shall be construed as a reference to the trustee or judicial factor in
bankruptcy;
(e) any reference to probate, letters of
administration or letters of administration with the will annexed shall be
construed as a reference to confirmation of an executor;
(f) any reference to the Treasury
Solicitor shall be construed as a reference to the Queen’s and Lord
Treasurer’s Remembrancer;
(g) any reference to the Chief
Registrar of Friendly Societies shall be construed as a reference to the
Assistant Registrar of Friendly Societies for Scotland.
Application to Northern Ireland.
32.-(1) These Regulations shall extend to Northern Ireland.
(2) In the
application of these Regulations to Northern Ireland –
(a) any reference to a mentally
disordered person shall be construed as a reference to a person who, by reason
of unsoundness of mind, or of mental disorder within the meaning of the Mental Health Act (Northern Ireland)
1961, is or is considered incapable of managing his affairs;
(b) any reference to a receiver in
relation to a mentally disordered person shall be construed as a reference to a
committee or any other person appointed pursuant to the Lunacy Regulation
(Ireland) Act 1871 (as amended) and the orders made thereunder to
exercise with respect to the estate of such person powers similar to those of a
committee;
(c) any reference to a receiving order
shall be construed as a reference to an order of adjudication of bankruptcy, or
to an order in any arrangement operating by virtue of section 349 of the Irish Bankrupt and
Insolvent Act 1857 to vest a deposit in the Official Assignee
alone or jointly with any person;
(d) any reference to the Official
Receiver shall be construed as a reference to the Official Assignee in
Bankruptcy;
(e) any reference to the Treasury
Solicitor shall be construed as a reference to the Chief Crown Solicitor for Northern Ireland;
(f) any reference to the Chief
Registrar of Friendly Societies shall be construed as a reference to the Chief
Registrar of Friendly Societies or a deputy appointed by him.
Application to the Isle of Man.
33.-(1) These Regulations shall extend to the
Isle of Man.
(2) In the
application of these Regulations to the Isle of Man
–
(a) any reference to a receiver in
relation to a mentally disordered person shall be construed as a reference to
the committee of the estate of a person found of unsound mind according to the
law of the Isle of Man or to a receiver appointed under section 3 of the Mental Diseases Act 1954
of the Isle of Man, as the case may be;
(b) any reference to the Treasury
Solicitor shall be construed as a reference to the Attorney-General of the Isle
of Man.
Application to the Channel Islands.
34.-(1) These Regulations shall extend to the Channel Islands.
(2) In
the application of these Regulations to Jersey
–
(a) any reference to a mentally
disordered person shall be construed as a reference to a person suffering from
mental disorder within the meaning of the Mental Health (Jersey)
Law 1969;
(b) any reference to a receiver in
relation to a mentally disordered person shall be construed as a reference to a
curator;
(c) the references in Regulation 8(2)
of these Regulations to sections 3 and 4 of the Cheques Act 1957
shall be respectively construed as references to articles 3 and 4 of the Cheques (Jersey) Law 1957;
(d) any reference to a receiving order
shall be construed as a reference to a declaration of “désastre”;
(e) any reference to the Official
Receiver shall be construed as a reference to Her Majesty’s Viscount for Jersey or to an “attourné”
appointed in bankruptcy, as the case may be;
(f) any reference to the Treasury
Solicitor shall be construed as a reference to Her Majesty’s Receiver
General for Jersey.
(3) In the
application of these Regulations to Guernsey, Alderney and Sark
–
(a) any reference to a mentally
disordered person shall be construed as a reference to a person who under any
law for the time being in force in any of the Islands
of the Bailiwick of Guernsey is a person of unsound mind;
(b) any reference to a receiver in
relation to a mentally disordered person shall be construed as a reference to a
guardian appointed by the Royal Court of Guernsey, the Court of Alderney or the
Court of the Seneschal of Sark, as the case may be;
(c) any reference to the Treasury
Solicitor shall be construed as a reference to Her Majesty’s
Receiver-General;
(d) any reference to a statutory
declaration shall be construed, in relation to Guernsey, as a reference to a
declaration on oath before the Bailiff, a jurat, the Magistrate or a Notary
Public, in relation to Alderney, as a reference to a declaration on oath before
the Court of Alderney, and, in relation to Sark, as a reference to a
declaration before the Seneschal;
(e) the references in Regulation 8(2)
of these Regulations to section 76, subsections (1), (3), (4) and (5), and, so
far as it relates to crossed cheques, subsection (6) of section 77, and
sections 78, 79, 80 and 81 of the Bills of Exchange Act 1882 shall be respectively
construed as references to section 75, subsections (1), (3), (4) and (5) and,
so far as it relates to crossed cheques, subsection (6) of section 76, and
sections 77, 78, 79 and 80 of the Bills of Exchange (Guernsey) Law 1958, and the
references in the said Regulation 8(2) to sections 3 and 4 of the Cheques Act 1957
shall be respectively construed as references to sections 83 and 84 of the Bills of Exchange
(Guernsey) Law 1958;
(f) for Regulation 11 of these
Regulations there shall be substituted the following Regulation: -
“11. Where
it is shown to the satisfaction of the Director of Savings that any person who
is the holder of a bond is insolvent, the Director of Savings may, if he thinks
fit, pay the sum repayable, or any other sum payable, in respect of the bond to
any person who makes application in that behalf and who satisfies him that he
is a proper person to receive payment.”;
(g) in Regulation 22(1) (b) of these Regulations the words
“or the trustee in bankruptcy or assignee of a holder who is bankrupt or
insolvent” shall be deleted.
Revocation and savings.
35.-(1) The Regulations specified in the
Schedule to these Regulations are hereby revoked.
(2) In so far as
any application, payment, reference or award made, approval, authority,
direction, notice or receipt given, warrant or document issued, or other thing
done, under any Regulations revoked by these Regulations could have been made,
given, issued or done under a corresponding provision of these Regulations, it
shall not be invalidated by the revocation, but shall have effect as if made,
given, issued or done under that corresponding provision.
(3) These
Regulations shall not affect the validity of anything done by or in relation to
the Postmaster General before 1st October 1969 under the provisions of any
Regulations revoked by these Regulations; and anything which at the date was in
process of being done under those provisions by or in relation to the
Postmaster General may be continued by or in relation to the Director of
Savings.
(4) Without
prejudice to the last preceding paragraph, where on 1st October 1969 a matter
in dispute between the Postmaster General and another stood referred under
Regulation 18 of the Premium Savings Bonds Regulations 1956 to the Chief
Registrar of Friendly Societies or a deputy appointed by him or to the
Assistant Registrar of Friendly Societies for Scotland, the Director of Savings
shall be substituted for the Postmaster General as a party to the reference;
and an award made under that Regulation before 1st October 1969 shall bind the
Director of Savings1
(5) The
mention of particular matters in this Regulation shall be without prejudice to
the general application of section 38 of the Interpretation Act 1889
as it applies for the interpretation of these Regulations.
TIM FORTESCUE,
P.L. HAWKINS,
Two of the Lords Commissioners
Her Majesty’s Treasury.
17th May 1972.
SCHEDULE
(Regulation 35(1))
|
Regulations
revoked
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References
|
|
The Premium Savings
Bonds Regulations 1956.
|
S.I. 1956/1657
(1956 I, p. 1489).
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The Premium
Savings Bonds (Channel Islands) Regulations
1956.
|
S.I. 1956/1827
(1956 I, p. 1501).
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The Premium
Savings Bonds (Isle of Man) Regulations
1956.
|
S.I. 1956/2050
(1956 I, p. 1502).
|
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The Premium
Savings Bonds (Amendment) Regulations 1957.
|
S.I. 1957/1733
(1957 I, p. 1449).
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The Premium
Savings Bonds (Amendment) Regulations 1960.
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S.I. 1960/1306
(1960 I, p. 409).
|
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The Premium
Savings Bonds (Amendment) (No. 2) Regulations 1960.
|
S.I. 1960/1982
(1960 I, p. 441).
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The Premium
Savings Bonds (Amendment) Regulations 1968.
|
S.I. 1968/994
(1968 II. p, 2647).
|
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The Premium
Savings Bonds (Amendment) (No. 2) Regulations 1968.
|
S.I. 1968/1443
(1968 III, p. 4181).
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The Premium
Savings Bonds (Amendment) Regulations 1969.
|
S.I. 1969/1333
(1969 III, p. 3966).
|
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The Premium
Savings Bonds (Amendment) Regulations 1971.
|
S.I. 1971/550
(1971 I, p. 1545).
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The Premium
Savings Bonds (Amendment) (No. 2) Regulations 1971.
|
S.I. 1971/1870
(1971 III, p. 5103).
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