# The National Savings Regulations 2015, Regulation 37: Payment of deposits without an application to withdraw

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

(1) In the case of an investment account other than an account for which terms and conditions have been set under section 9A(1) of the 1971 Act, or an individual savings account, the Director of Savings may pay deposits to a depositor without having received an application to withdraw, including where—
(a) the Director of Savings is satisfied that the deposits were not made in accordance with these Regulations;
(b) there are reasonable grounds to suspect that the depositor—
(i) has provided false information; or
(ii) has made a deposit in connection with an illegal purpose;
(c) a declaration required under these Regulations has not been received within a reasonable period; or
(d) the balance of the account is less than the minimum required by regulation 23.
(2) Deposits to which this regulation applies and any interest payable may be paid by any means, including crediting the amount to a different account in the name of the depositor in the National Savings Bank.

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Source: https://www.legislation.gov.uk/uksi/2015/623/regulation/37 (the official version)
Page: https://openlegislation.uk/national-savings-regulations-2015/regulation-37
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.