Regulation 71 Notice of trust not receivable by Director of SavingsI1

United Kingdom

(1)

For the purposes of these Regulations—

(a)

no notice of a trust can be received by the Director of Savings in relation to a bond;

(b)

no notice of a charge, trust or other equitable interest can be received by the Director of Savings in relation to—

(i)

a certificate; or

(ii)

a children’s certificate;

(c)

the Director of Savings, or a person acquiring an interest in a certificate, shall not be affected with notice of—

(i)

a trust;

(ii)

the fiduciary character of a holder; or

(iii)

a fiduciary obligation attaching to the holding of the certificate,

by reason that the certificate is held in the name of a person as trustee, whether jointly with another person or solely.

(2)

As to stock, see regulation 35.

Annotations