The Savings Certificates Regulations 1991

MISCELLANEOUS

Persons under disability

18.  If any person holding, or having an interest in, any certificate isa mentally disordered person or is under legal disability for any otherreason except his age alone, anything which under these Regulations isrequired or authorised to be done by or to the holder of the certificateshall or may be done by or to the receiver or other person having powerin law to administer his estate.

Payments into National Savings Bank

19.—(1) Where the Director of Savings is unable for any reason to obtain avalid discharge for any payment falling to be made to any person inrespect of a certificate, he may, unless other provision for dealingwith the payment has been made by any enactment, open an account in theNational Savings Bank in the name of the person to whom the payment isdue, 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 theNational Savings Bank, the Director of Savings may, if he thinks fit,instead of opening a new account, credit the amount payable to theexisting account; and

  (b)

  in the case of an account opened by the Director ofSavings—

  (i)

  no sum shall be received by way of deposit for the credit of theaccount except in pursuance of these Regulations; and

  (ii)

  the regulations requiring a declaration to be made by adepositor in the National Savings Bank shall not apply with respect toany payment into the account by the Director of Savings.

(2) For the purpose of any Order under section 4 of the National SavingsBank Act 1971(1) (which empowers the Treasury by order to limit theamount of deposits in the National Savings Bank) or any Order havingeffect as if made under that section, regard shall not be had to any sumcredited to an account under this regulation.

Loss of certificates, etc

20.—(1) The loss or destruction of any document issued by or under theauspices of the Director of Savings in pursuance of these Regulationsshall be notified in writing to the Director of Savings as soon aspracticable by the person entitled to possession of the document.

(2) If it appears to the Director of Savings that any document so issuedhas been issued in error, lost, destroyed or tampered with, or is insuch a condition as to render it desirable that it should be replaced bya new document, he may, subject to the provisions of this regulation,issue a new document in lieu of the old document to any person whosatisfies him that he is entitled to the possession of the document.

(3) The Director of Savings may attach to the issue under thisregulation of any new document such conditions as to indemnity orotherwise as he thinks fit.

Forfeiture of certificates

21.—(1) Subject to the provisions of this regulation, if anyperson—

(a)not being a person entitled under regulation 4 or Part I ofSchedule 1 so to do, purchases or holds a certificate; or

(b)purchases or holds any certificate in contravention of regulation 5or Part II of Schedule 1 (which prescribe the maximum number of unitswhich may be purchased);

the certificate shall, if the Director of Savings so directs, beforfeited:

• Provided that, in any case in which the Director of Savings hasdirected the forfeiture of any certificates, he may, if he thinks fit, pay tothe person concerned or credit to him in the National Savings Bank:

  (i)

  a sum equal to the aggregate amount of the purchase price ofthe certificates forfeited;

  (ii)

  (in the case of any certificates which the person concernedhas purchased or held when he was not entitled so to do under regulation4) such sum by way of interest, not exceeding the amount of interestwhich had accrued due in respect of those certificates immediatelybefore the forfeiture thereof, as the Director of Savings maydetermine;

  (iii)

  (in the case of any certificate which the person concernedhas purchased or held when he was not entitled so to do under Part I ofSchedule 1) such sum by way of bonus or otherwise, not exceeding theamount of the bonus or other sum which had accrued due in respect ofthose certificates immediately before the forfeiture thereof, as theDirector of Savings may determine;

  (iv)

  (in the case of any certificates which the person concernedhas purchased or held in contravention of regulation 5 or Part II ofSchedule 1) interest, at such rate as the Director of Savings thinksfit, on a sum equal to the purchase price of those certificates, beinginterest computed in such manner as the Director of Savings, with theapproval of the Treasury, may direct.

(2) For the purposes of the foregoing provisions of this regulation, amultiple certificate shall be taken to be such number of unitcertificates as is represented by the multiple certificate.

(3) For the purposes of any Order under section 4 of the NationalSavings Bank Act 1971 (which empowers the Treasury by order to limit theamount of deposits in the National Savings Bank) or any Order havingeffect as if made under that section, any sum credited to a person underthis regulation shall, if the Director of Savings so directs, bedisregarded.

(4) Notice of any forfeiture under this regulation shall be sent to theperson concerned as soon as may be, and the Director of Savings mayrequire any certificate which might be or is affected to be delivered upto him for the purpose of being either cancelled or altered or otherwisedealt with, as may be necessary to give effect to the provisions of thisregulation.

Persons unable to write

22.  Where any document is required by the Director of Savings or bythese Regulations to be signed by any person and that person is unableto write, it shall be sufficient for the purposes of these Regulationsif the document is marked by that person in the presence of a witness insuch manner as the Director of Savings may require.

Rectification of mistakes

23.—(1) Any mistake in any document received from the Director of Savings inpursuance of these Regulations shall, as soon as practicable, benotified in writing to the Director of Savings by the person receivingthe document.

(2) If the Director of Savings is satisfied that any transactioneffected or thing done, or purporting to have been effected or done, inaccordance with these Regulations has been effected or done in error, hemay cancel the transaction and may take all such steps as are, in hisopinion, necessary to rectify the error, and may for that purposerequire the surrender to him of any certificate or other document.

Settlement of disputes

24.—(1) If any dispute arises between the Director of Savingsand—

(a)the holder of any certificate, or

(b)a person who is or claims to be the personal representative or nextof kin or creditor of a holder, or the trustee in bankruptcy or assigneeof a holder who is bankrupt or insolvent, or

(c)a person who claims to be entitled to any certificate,

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 exparte on notice in writing sent by post to the Director of Savings andmay administer oaths to any witnesses appearing before him.

(3) The award of the Chief Registrar on any reference under thisregulation shall be final and binding on all parties.

(4) Section 11 of the National Savings Bank Act 1971 (which empowers theTreasury to direct that fees shall be charged on certain awards made bythe Chief Registrar of friendly societies) shall have effect as if theawards therein mentioned included awards made under this regulation.

Notice of trust not receivable by Director of Savings

25.—(1) Subject to the provisions of these Regulations, no notice of acharge, trust or other equitable interest shall be receivable by theDirector of Savings in respect of a certificate.

(2) Neither the Director of Savings nor any person acquiring anyinterest in a certificate shall, by reason that the certificate is heldin the name of any person as trustee (whether jointly with any otherperson or solely), be affected with notice of any trust or of thefiduciary character of the holder or of any fiduciary obligationattaching to the holding of the certificate.

Fees for birth, death and marriage certificates

26.  Section 10 of the Savings Banks Act 1887(2) (which relates to the price of a certificate of birth,death or marriage required for the purpose of the Acts relating to theNational Savings Bank), as amended by any Order in force for the timebeing under section 5 of the Public Expenditure and Receipts Act 1968(3), shall apply for the purposes of these Regulations as itapplies for the purposes of those Acts, and for the purposes of theseRegulations the said section 10 shall have effect as if the holder of acertificate or any person having an interest in a certificate were adepositor in the National Savings Bank.

Indemnity of Treasury, Director of Savings and officers

27.—(1) The Treasury, the Director of Savings and any person acting underhis authority shall not be liable in respect of any payment duly made oract duly done in accordance with these Regulations, and any such paymentshall, subject to the provisions of these Regulations for saving therights of third parties, be deemed to have been a valid payment, and thereceipt of the person to whom the money was paid shall be a fulldischarge to the Treasury and the Director of Savings for the amount ofthe payment.

(2) Where a warrant for payment of any amount repayable in respect of acertificate is issued payable to some person being neither the holder ofthe certificate nor a person otherwise entitled under these Regulationsto receive payment in respect thereof, then, if it is shownthat—

(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 actor omission on the part of the holder or a person so entitled,

the warrant shall, subject to the provisions of these Regulationsfor saving the rights of third parties, be deemed to have been dulyissued to a person so entitled.

Saving for rights of third parties

28.  Nothing in these Regulations for the protection of the Treasury orthe Director of Savings in respect of any act done or any money paidshall operate to prevent the recovery by any person or hisrepresentatives of any money lawfully due to him from the person to whomthat money was paid by or under the direction of the Director ofSavings, or from the representatives of that person, or affect the rightwhich any person or his representatives may have in respect of acertificate against a third party.

Form of documents

29.  Where any application is required by these Regulations to be made ina manner approved by the Director of Savings, the document in which theapplication is made shall contain a full and specific statement of theparticulars required to be given, and any such document which isrequired by the Director of Savings to be signed by any person shall besigned by that person.

Evidence of identity, etc

30.—(1) The Director of Savings shall be entitled to require evidence to begiven to his satisfaction of the identity of any person or of the titleof any person to any certificates, document or money, or to requireevidence that anything purporting to be done in pursuance of theseRegulations has been duly done, or otherwise with respect to any matterson which the due exercise of his powers or performance of his dutiesunder these Regulations depends, and the Director of Savings may, forthe purpose of obtaining any such evidence, require a statutorydeclaration to be made by any person.

(2) The Director of Savings may accept as conclusive proof of the deathof the holder of a certificate any evidence which establishes to hissatisfaction the fact that the holder has not been heard of for a periodof seven years or upwards, and, for the purposes of this paragraph, theexpression“holder of a certificate” includes any person beneficially interested at any time, whetherabsolutely or contingently, in the personal estate of the deceasedholder of a certificate.

Obligation of secrecy

31.—(1) A person employed in connection with business arising under theseRegulations shall not disclose to any person, other than the Director ofSavings or a person employed in carrying these Regulations intoexecution, the name of the purchaser or holder of any certificate, thenumber of certificates purchased by any person, or the amount repaid inrespect of any certificate.

(2) The last foregoing paragraph shall not prevent the disclosure by aperson authorised for the purpose by the Director of Savings ofinformation to any person in connection with an offence committed withreference to any certificate or for the purpose of ascertaining whetheror not an offence has been so committed nor shall it prevent theDirector of Savings from complying with a notice served on him undersection 20(3) of the Taxes Management Act 1970(4) (requirement to deliver or make available documentsrelating to liability of a taxpayer).

Saving for rights of joint holders, etc

32.—(1) Nothing in these Regulations relating to joint holders ofcertificates shall affect the mutual rights of any joint holders.

(2) Nothing in these Regulations relating to trustees shall as betweenany trustees or as between any trustee and the beneficiaries under atrust be deemed to authorise the trustees to act otherwise than inaccordance with the rules of law applying to the trust and the terms ofthe instrument (if any) constituting the trust.

Application to Scotland

33.  In the application of these Regulations to Scotland—

(a)any reference to a mentally disordered person shall beconstrued as a reference to a person who is incapable by reason ofmental disorder within the meaning of the Mental Health (Scotland) Act1984(5) of managing and administering his property and affairs;

(b)any reference to a receiver in relation to a mentally disorderedperson shall be construed as a reference to a curator bonis, guardian ortutor;

(c)any reference to a bankruptcy order shall be construed as areference to an award of sequestration;

(d)any reference to the Official Receiver shall be construed as areference to the trustee in bankruptcy or a judicial factor;

(e)any reference to probate, letters of administration or letters ofadministration with the will annexed shall be construed as a referenceto confirmation of an executor;

(f)any reference to the Treasury Solicitor shall be construed asa reference to the Queen’s and Lord Treasurer’s Remembrancer;

(g)any reference to the Chief Registrar of friendly societies shall beconstrued as a reference to the Assistant Registrar of friendlysocieties for Scotland.

Application to Northern Ireland

34.  In the application of these Regulations to NorthernIreland—

(a)any reference to a friendly society shall be construed as areference to a friendly society registered or deemed to be registeredunder the Friendly Societies Act (Northern Ireland) 1970(6) or a branch registered or deemed to be registered underthat Act of a friendly society so registered or deemed to beregistered;

(b)any reference to a mentally disordered person shall be construed asa reference to a person who, by reason of unsoundness of mind, or ofmental disorder within the meaning of the Mental Health (NorthernIreland) Order 1986(7), is or is considered incapable of managing his affairs;

(c)any reference to a receiver in relation to a mentally disorderedperson shall be construed as a reference to a controller or any otherperson appointed pursuant to the Mental Health (Northern Ireland) Order1986 and the orders made thereunder to exercise with respect to theestate of such person powers similar to those of a committee;

(d)any reference to a bankruptcy order shall be construed as areference to an order of adjudication of bankruptcy, or to an order inany arrangement operating by virtue of section 349 of the Irish Bankruptand Insolvent Act 1857(8) to vest a deposit in the Official Assignee alone orjointly with any person;

(e)any reference to the Official Receiver shall be construed as areference to the Official Assignee in Bankruptcy;

(f)any reference to the Treasury Solicitor shall be construed asa reference to the Crown Solicitor for Northern Ireland.

Application to the Isle of Man

35.—(1) These Regulations shall extend to the Isle of Man.

(2) In the application of these Regulation to the Isle ofMan—

(a)any reference to a mentally disordered person shall beconstrued as a reference to a person who is incapable by reason ofmental disorder within the meaning of the Mental Health Act 1974 (an Actof Tynwald) of managing and administer- ing his property and affairs;

(b)any reference to a receiver in relation to any act or thing done inrespect of a mentally disordered person shall be construed as areference to a receiver or other person authorised in that behalf underPart VII of the said Act of 1974;

(c)any reference to a bankruptcy order shall be construed as areference to a receiving order or an order of adjudication ofbankruptcy;

(d)any reference to the Treasury Solicitor shall be construed as areference to Her Majesty’s Attorney General for the Isle of Man.

Application to the Channel Islands

36.—(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 beconstrued as a reference to a person suffering from mental disorderwithin the meaning of the Mental Health (Jersey) Law 1969;

(b)any reference to a receiver in relation to a mentally disorderedperson shall be construed as a reference to a curator;

(c)the references in regulation 7(2) of these Regulations to sections3 and 4 of the Cheques Act 1957 shall be respectively construed asreferences to articles 3 and 4 of the Cheques (Jersey) Law 1957;

(d)any reference to a receiving order shall be construed as areference to a declaration of“de sastre”;

(e)any reference to the Official Receiver shall be construed as areference to the Viscount or to an“attourne” appointed in bankruptcy, as the case may be;

(f)any reference to the Treasury Solicitor shall be construed asa reference to Her Majesty’s Receiver General;

(g)any reference to a statutory declaration shall be construed as areference to a declaration on oath before the Bailiff, a Jurat, theMagistrate or a notary public.

(3) In the application of these Regulations to Guernsey, Alderney andSark—

(a)any reference to a mentally disordered person shall beconstrued as a reference to a person who under any law for the timebeing in force in any of the Islands of the Bailiwick of Guernsey is aperson of unsound mind;

(b)any reference to a receiver in relation to a mentally disorderedperson shall be construed as a reference to a guardian appointed by theRoyal Court of Guernsey, the Court of Alderney or the Court of theSeneschal of Sark, as the case may be;

(c)any reference to the Treasury Solicitor shall be construed as areference to Her Majesty’s Receiver-General;

(d)any reference to a statutory declaration shall be construed as areference to a declaration on oath before a notary publicor—

(i)in Guernsey, before the Bailiff or Deputy Bailiff, A Jurat ofthe Royal Court or the Magistrate;

(ii)in Alderney, before a Jurat of the Court of Alderney; and

(iii)in Sark, before the Seneschal.

(e)the references in regulation 7(2) of these Regulations to section76, subsections (1), (3), (4) and (5) and, so far as it relates tocrossed cheques, subsection (6) of section 77, and sections 78, 79, 80and 81 of the Bills of Exchange Act 1882 shall be respectively construedas references to section 75, subsections (1), (3), (4) and (5) and, sofar as it relates to crossed cheques, subsection (6) of section 76, andsections 77, 78, 79 and 80 of the Bills of Exchange (Guernsey) Law 1958,and the references in the said regulation 7(2) to sections 3 and 4 ofthe Cheques Act 1957 shall be respectively construed as references tosections 83 and 84 of the Bills of Exchange (Guernsey) Law 1958;

(f)for regulation 12 of these Regulations shall be substitute

the following regulation—

“12.  Where it is shown to the satisfaction of the Director of Savingsthat any person who is the sole holder of a certificate is insolvent,the Director of Savings may, if he thinks fit, pay the amount repayablein respect of the certificate to any person who makes application inthat behalf and who satisfies him that he is a proper person to receivepayment.”;

(g)in regulation 24(1)(b) of these Regulations the words“or the trustee in bankruptcy or assignee of a holder who is bankruptor insolvent” shall be deleted.

Nominations

37.  Schedule 2 to these Regulations shall have effect in relation tonominations made before 1st May 1981.

Revocation

38.  The Regulations specified in Schedule 3 to these Regulations arehereby revoked.