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Regulation 4 Additional condition as to transferability

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

An account must be transferable from one society or institution to another society or institution which–

(a)

has notified the Board of its intention to operate accounts,

(b)

has not ceased, or ceased to be entitled, to operate accounts, and

(c)

has not been prohibited from operating new accounts by the giving of a prohibition notice which is in force,

but not otherwise, on such terms as may be agreed between the account-holder and any society or institution concerned.