{
  "url": "https://openlegislation.uk/national-savings-remediation-scheme-regulations-2026/regulation-2",
  "json_url": "https://openlegislation.uk/national-savings-remediation-scheme-regulations-2026/regulation-2.json",
  "legislation": "uksi/2026/623",
  "legislation_title": "The National Savings (Remediation Scheme) Regulations 2026",
  "legislation_url": "https://openlegislation.uk/national-savings-remediation-scheme-regulations-2026",
  "path": "regulation/2",
  "kind": "regulation",
  "number": "2",
  "heading": "Interpretation",
  "text": "In these Regulations—\n“the 2015 Regulations” means the National Savings Regulations 2015;\n“account” means any account in the National Savings Bank;\n“additional payment” means a payment made under regulation 5(3)(b);\n“bond” has the meaning given in regulation 2 of the 2015 Regulations;\n“certificate” has the meaning given in regulation 2 of the 2015 Regulations;\n“contractual interest” means any interest or other amount that has accrued in relation to a relevant holding which has been added to its value in accordance with the terms and conditions applying to that relevant holding;\n“date of determination” means the date that the Director of Savings determines to be the appropriate date to which a payment under regulation 5(3)(a) is to be calculated;\n“deposit” has the meaning given in regulation 2 of the 2015 Regulations;\n“depositor” means a person in whose name deposits have been made in the National Savings Bank;\n“direct ISA” has the meaning given in regulation 4 (3) of the 2015 Regulations;\n“eligible claim” has the meaning given in regulation 4;\n“payment” means a payment determined in accordance with regulation 5;\n“personal representative” means—\n(a) the legal personal representative of a deceased person, or\n(b) the person to whom the Director of Savings may make a payment without a grant of representation under regulation 54 of the 2015 Regulations;\n“relevant holding” means—\n(a) any account, bond, certificate, deposit, direct ISA, Treasury security, or stock registered by the Director of Savings in the name of a person who is now deceased, or\n(b) any interest registered in the name of a person who is now deceased in any account in the name of the Director of Savings;\n“relevant person” means the person to whom a payment is to be paid in accordance with regulation 6;\n“the Scheme” means a National Savings remediation scheme established by regulation 3(1);\n“stock” has the meaning given in regulation 2 of the 2015 Regulations;\n“Treasury security” has the meaning given in regulation 2 of the 2015 Regulations.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2015/623."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2026/623/regulation/2",
    "retrieved_at": "2026-10-28T21:00:06.860971+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}