Regulation 36 Limitations in relation to minorsI1

applications for payment of the amount repayable may only be made by a minor who has not attained the age of sixteen years if the minor had attained the age of seven years before 6th April 2013;

where National Savings Income Bonds are held by a minor who had not attained the age of seven years before 6th April 2013, no interest may be paid otherwise than by means of crediting the amount to an approved account in the minor’s name, or in the name of any person appearing to the Director of Savings to be responsible for the minor;

the Director of Savings may, at any time, require a specimen of the minor’s signature, and obtain the minor’s authority for making further payments as follows—

an account in the National Savings Bank containing investment deposits;

an account with a person who has permission under Part 4A of the Financial Services and Markets Act 2000^f1 to accept deposits; or

an account with an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to the Financial Services and Markets Act 2000^f2, which has permission under paragraph 15 of that Schedule^f3 (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits.

section 22 (regulated activities) of the Financial Services and Markets Act 2000^f4;

any relevant order under that section; and

Schedule 22 (repeals) to the Financial Services and Markets Act 2000.