Explanatory note

These Regulations amend the Trustee Savings Banks Regulations 1972. They remove the provisions which related to the declaration to be made by a depositor in connection with other accounts held by him in trustee savings banks and also provide a new definition of a current account deposit for the purposes of the Regulations. These Regulations also withdraw, with effect from 1st May 1979, the power for a depositor to make a nomination. They also remove the restrictions on the repayment of deposits on death without the necessity for proof from the Commissioners of Inland Revenue that any death duties or capital transfer tax, chargeable on the death of a depositor in respect of the deposits, have been paid or that none is payable. The Regulations make certain other minor and unrelated amendments.