# The Premium Savings Bonds (Amendment) Regulations 1981, Note: Explanatory note


These Regulations, which amend the Premium Savings Bonds Regulations 1972, permit the purchase of bonds on behalf of a person under the age of 16 by his grandparent. The Regulations provide that, until the holder reaches the age of 16, any repayment or payment in respect of a bond so purchased shall be made to either the parent or guardian designated by the grandparent in the application to purchase the bond or to a person who satisfies the Director of Savings that he is a proper person to receive payment, as the Director thinks fit.

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Source: https://www.legislation.gov.uk/uksi/1981/310/note (the official version)
Page: https://openlegislation.uk/premium-savings-bonds-amendment-regulations-1981/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.