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The National Savings Bank (Investment Deposits) (Limits) (Amendment) Order 1993

S.I. 1993/1239 · Made 7 May 1993

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

SAVINGS BANKS

Made 7th May 1993

Coming into force 10th May 1993

Whereas a draft of this Order has been laid before Parliament and a period of 40 days beginning with the day of laying has expired and neither House of Parliament has resolved that the Order be not made;

Now, therefore, the Treasury, in exercise of the powers conferred upon them by section 4 of the National Savings Bank Act 1971f1, and of all other powers enabling them in that behalf, hereby make the following Order:

Annotations to the whole text

Footnotes

f1

1971 c. 29; section 4 was amended by paragraph 3 of Schedule 20 to the Finance Act 1982 (c. 39).

Contents

  1. 1Article 1
  2. 2Article 2
  3. 3Article 3
  4. Signature
  5. Explanatory note

1

This Order may be cited as the National Savings Bank (Investment Deposits) (Limits) (Amendment) Order 1993 and shall come into force on 10th May 1993.

2

The National Savings Bank (Investment Deposits) (Limits) Order 1977 f1 shall be amended in article 3 by the substitution of the figure “£100,000” for the figure “£25,000”.

3

The National Savings Bank (Investment Deposits) (Limits) (Amendment) Order 1989f1 is hereby revoked.

Signature

Tim Wood

Irvine Patnick

Two of the Lords Commissioners of Her Majesty’s Treasury

7th May 1993

Explanatory note

(This note is not part of the Order)

This Order, which further amends the National Savings Bank (Investment Deposits) (Limits) (Order) 1977, increases the limit on the aggregate amount which can be accepted by the Director of Savings from any person by way of an investment deposit in the National Savings Bank from £25,000 to £100,000