Regulation 38 Issue, purchase and recording of certificatesI1

United Kingdom

(1)

Certificates may be issued in the form, at the places determined, and by the persons authorised, by the Director of Savings.

(2)

An application to purchase a certificate must be made in the approved form, and the applicant must provide any documents or other information required by the Director of Savings.

F1(2A)

When a new certificate is issued, the Director of Savings must issue a notice to the holder of the certificate which confirms—

(a)

the purchase of the certificate; or

(b)

in relation to a rolled-over certificate, that a subsequent term has begun.

(2B)

A notice issued under paragraph (2A) must state the date on which it is issued.

(3)

The Director of Savings must record the names of persons who are holders of certificates.

F2(4)

In this regulation, the term “new certificate” has the same meaning as in regulation 46(7).

Annotations

Textual amendments

F1: Reg. 38(2A)(2B) inserted (20.7.2023) by The National Savings (Amendment) Regulations 2023 (S.I. 2023/605), regs. 1(2), 2(2)(a)
F2: Reg. 38(4) inserted (20.7.2023) by The National Savings (Amendment) Regulations 2023 (S.I. 2023/605), regs. 1(2), 2(2)(b)

Commencement

I1: Reg. 38 in force at 6.4.2015, see reg. 1(1)