# The National Savings Bank (Amendment) Regulations 2001

S.I. 2001/858 · made 8 March 2001

These Regulations amend The National Savings Bank Regulations 1972 (“the 1972 Regulations”) and the National Savings Bank (Investment Deposits) (Limits) Order 1977 (“the Order”).

Made under: National Savings Bank Act 1971 (Section 2, Section 4)

PDFs: Printed copy https://openlegislation.uk/national-savings-bank-amendment-regulations-2001/pdf/uksi_20010858_en.pdf

## Introductory text

SAVINGS BANKS
Made 8th March 2001
Laid before Parliament 12th March 2001
Coming into force 6th April 2001
The Treasury, in exercise of the powers conferred on them by section 2 of the National Savings Bank Act 1971 as extended by sections 4(1), 4(2)(f) and 4(4) of that Act and of all other powers enabling them in that behalf, hereby make the following Regulations:

## 1 Citation and commencement

These Regulations may be cited as the National Savings Bank (Amendment) Regulations 2001 and shall come into force on 6th April 2001.

## 2 Amendment of The National Savings Bank Regulations 1972

The National Savings Bank Regulations 1972 shall be amended as follows:—
(a) in regulation 29L(2), substitute “16” for “18”;
(b) in regulation 29L(2)(a) omit “or”; and
(c) after regulation 29L(2)(b), insert “, or (c) though not resident in the United Kingdom, married to a person to whom paragraph (b) applies”.

## 3 Amendment of the National Savings Bank (Investment Deposits) (Limits) Order 1977

The National Savings Bank (Investment Deposits) (Limits) Order 1977 shall be amended as follows:—
(a) for paragraph (a) of article 3B insert “in any year beginning on 6th of April between 1999 and 2005 inclusive, £3,000”; and
(b) in article 3B(b) insert “beginning on 6th of April” after “in any subsequent year”.

## Signature

Jim Dowd
David Jamieson
Two of the Lords Commissioners of Her Majesty’s Treasury

## Explanatory note

(This note is not part of the Regulations)
These Regulations amend The National Savings Bank Regulations 1972 (“the 1972 Regulations”) and the National Savings Bank (Investment Deposits) (Limits) Order 1977 (“the Order”).
Regulation 2(a) amends regulation 29L of the 1972 Regulations so that the age that must be attained by a person before he can open a National Savings Bank individual savings account (“ISA”) is reduced from 18 to 16. Regulation 2(c) amends regulation 29L of the 1972 Regulations so that a person who is not resident in the United Kingdom and is not a Crown servant serving overseas can open a National Savings Bank ISA, if he is married to a person who is a Crown servant serving overseas.
Regulation 3(a) amends article 3B(a) of the Order so that the maximum amount which can be deposited in a National Savings Bank ISA is increased from £1,000 to £3,000 a year, for the years beginning 6th April 2001 to 6th April 2005 inclusive.

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Source: https://www.legislation.gov.uk/uksi/2001/858 (the official version)
Page: https://openlegislation.uk/national-savings-bank-amendment-regulations-2001
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.