Regulation 2

by substituting for paragraph (3) the following paragraphs:—

“(3)

The persons in whose names an account stands or is to be opened may jointly authorise the Director of Savings to act on an application made by any one of those persons to withdraw or to transfer the deposits; in the absence of such authorisation any application to withdraw or to transfer the deposits shall be made by all the persons in whose names the account stands, or by the survivor of those persons.

(4)

Any authorisation to which paragraph (3) above applies shall be revoked upon the receipt by the Director of Savings of an application under paragraph (5) of this Regulation or under paragraph (1) of Regulation 32, or on notice of—

(a)

the death of any of the persons in whose name the account stands;

(b)

by the making of a receiving order against any of the persons in whose names the account stands or the appointment of a trustee in the bankruptcy of any such person;

(c)

any of the persons in whose names the account stands becoming a mentally disordered person whether or not a receiver has been appointed.”;

by re-numbering paragraph (4) as paragraph (5);

in paragraph (5), by substituting for the words “all the said persons” the words “all the persons in whose names the account stands”.