The Trustee Savings Banks (Amendment) Regulations 1975

Made: 7th November 1975

Coming into Operation: 21st November 1975

The Treasury, in exercise of the powers conferred on them by section 28 of the Trustee Savings Banks Act 1969, as amended by the Administration of Estates (Small Payments) (Increase of Limit) Order 1975[^f00001], and of all other powers enabling them in that behalf, hereby make the following Regulations:—

1

These Regulations may be cited as the Trustee Savings Banks (Amendment) Regulations 1975, and shall come into operation on 21st November 1975.

2

The Interpretation Act 1889 shall apply for the interpretation of these Regulations as it applies for the interpretation of an Act of Parliament.

3

The Trustee Savings Banks Regulations 1972[^f00002] shall be amended—

• (a) in Regulation 11(1) (power to dispose by nomination subject to a limit of £500),

• (b) in Regulation 14(1), (2), (3) and (4) (payment under nomination), and

• (c) in Regulation 18(1) (power to make payment without a grant of representation subject to a limit of £500),

4

• (1) Regulation 3(a) above shall apply in relation to nominations effected on or after the date on which these Regulations come into operation.

• (2) Regulation 3(b) and (c) above shall apply in relation to deaths occurring on or after that date.

Signed

James A. Dunn — M. Cocks — Two of the Lords Commissioners of Her Majesty's Treasury — 7th November 1975

Explanatory note

EXPLANATORY NOTE

These Regulations, which amend the Trustee Savings Banks Regulations 1972, increase from £500 to £1,500 the limit—

(a) on the amount which a depositor may nominate any person to receive on his death,

(b) on the sums in relation to which payment under a nomination may be made, and

(c) on the amount which may be repaid on death without the necessity for probate or other proof of title.

The increase in the limit referred to in paragraph (a) above applies to nominations effected on or after the date on which these Regulations come into operation. The increase in the limits referred to in paragraphs (b) and (c) above applies to payments made in relation to deaths occurring on or after that date.

Footnotes

[^f00001]: (1975 II, p. 3994).

[^f00002]: (1972 I, p. 1948).