# The National Savings (No. 2) Regulations 2015, Regulation 53: Transfers and addition of names

Extent: E+W+S+N.I.

(1) On receipt of an application to transfer a certificate, the Director of Savings, if satisfied that the transfer can and ought to be made, must transfer the certificate without delay in accordance with the application.
(2) A transfer is effected by the Director of Savings recording the name of the person to whom the certificate is to be transferred as the holder.
(3) Subject to paragraph (5), a certificate may not be transferred unless the holder—
(a) makes an application in the approved form; and
(b) provides the certificate to which the application relates (except where the Director of Savings directs otherwise or the certificate is not issued in documentary form),
and the death of the applicant shall not of itself terminate the authority for the transfer to be made, but if the Director of Savings receives notice that the applicant has terminated the authority or has died, the transfer may not be made.
(4) On the application of the holder, the Director of Savings may transfer a certificate into the names of joint holders with the applicant.
(5) Where a certificate is held by a person as a trustee jointly with the beneficiary, the Director of Savings may on the application of either transfer the certificate to the beneficiary alone or to the beneficiary and another trustee jointly.
(6) This regulation applies in the event of the death of the holder of a certificate, in that a person to whom the amount repayable in relation to the certificate is to be paid may instead apply for the transfer of the certificate into that person’s name or the name of another person.
(7) The Director of Savings may refuse to transfer a certificate, but must in that event notify without delay the person desiring the transfer.

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Source: https://www.legislation.gov.uk/uksi/2015/624/regulation/53 (the official version)
Page: https://openlegislation.uk/national-savings-no-2-regulations-2015/regulation-53
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.