The National Savings (No. 2) Regulations 2015

S.I. 2015/624 · Made 10 March 2015 · Extends to United Kingdom

Contents

1. Part 1: Introductory Provisions
2. 1Citation, commencement and extent
3. 2Interpretation
4. Part 2: Premium savings bonds
5. Chapter 1: Issue and purchase of bonds
6. 3Issue, purchase and registration of bonds
7. 4Persons entitled to purchase and hold bonds
8. 5Maximum holding of bonds
9. Chapter 2: Payments in relation to bonds
10. 6Applications for payment
11. 7Making payments
12. 8Payments to minors under sixteen years of age
13. 9Payments to persons who lack capacity
14. 10Payments in the case of bankrupts
15. Chapter 3: Other administrative provisions in relation to bonds
16. 11Terminating investment in bonds
17. 12Prize fund interest rate changes and changes in the scale of prizes
18. 13Change in the publication of the serial numbers of winning bonds
19. 14Notification of winners
20. Part 3: The National Savings Stock Register
21. Chapter 1: Subscription, purchase and sale of stock
22. 15Keeping of the register
23. 16Subscription for stock
24. 17Limit on total holding of stock
25. 18Forfeiture of stock
26. 19Forfeiture of new stock
27. 20Certificates, subscription books and records
28. Chapter 2: Conversion, redemption, and transfer of stock, etc.
29. 21Conversion
30. 22Redemption
31. 23Transfers
32. 24Transfer of stock to the Commissioners of Her Majesty’s Revenue and Customs in payment of duties or tax
33. 25Operation of a nomination
34. Chapter 3: Dividends and payments
35. 26Payment of dividends
36. 27Payment of interest in relation to Fixed Rate Savings Bonds
37. 28Accrual of interest
38. 29Accrual of interest on variable interest stock
39. 30Making payments
40. 31Payments in the case of bankrupts
41. 32Authority for payment to third party
42. Chapter 4: Joint holders and trustees
43. 33Joint holders of stock
44. 34Power of joint holders to act without unanimity
45. 35Application by holders of stock to be described in register as trustees
46. Chapter 5: Minors and persons under disabilities
47. 36Limitations in relation to minors
48. 37Minors and persons under disability
49. Part 4: Savings certificates
50. Chapter 1: Issue and purchase of certificates
51. 38Issue, purchase and recording of certificates
52. 39Persons entitled to purchase and hold certificates
53. 40Persons entitled to hold index-linked certificates purchased before 7th September 1981
54. 41Limit on total holding of certificates
55. 42Forfeiture of certificates purchased before 20th September 2012
56. 43Forfeiture of rolled-over certificates and certificates purchased on or after 20th September 2012
57. Chapter 2: Interest, payments and transfers, etc.
58. 44Accrual of interest
59. 45Applications for payment
60. 46Applications for early repayment
61. 47Making payments
62. 48Payments to minors under seven years of age
63. 49Payments to persons who lack capacity
64. 50Payments where certificates are held by persons jointly
65. 51Payments to friendly societies, etc.
66. 52Payments in the case of bankrupts
67. 53Transfers and addition of names
68. 54Operation of a nomination
69. 55Application to the Channel Islands in relation to nominations
70. Part 5: Children’s savings certificates
71. Chapter 1: Issue and purchase of certificates
72. 56Issue, purchase and recording of children’s certificates
73. 57Persons entitled to purchase and hold certificates
74. 58Maximum holding of certificates
75. 59Forfeiture of Children’s Bonus Bonds
76. 60Forfeiture of Children’s Bonds
77. Chapter 2: Interest and payments
78. 61Accrual of interest
79. 62No bonus on Children’s Bonds
80. 63Applications for payment
81. 64Making payments
82. 65Record of partial repayments
83. 66Payments in the case of holders under sixteen years of age
84. 67Payments in the case of persons who lack capacity
85. 68Payments in the case of bankrupts
86. 69Applications for early repayment
87. 70Prohibition on transfers
88. Part 6: Common provisions
89. Chapter 1: Protections
90. 71Notice of trust not receivable by Director of Savings
91. 72Powers of attorney
92. 73Indemnity of the Treasury, Director of Savings and officers
93. 74Receipts to be a full discharge
94. 75Posting to be regarded as delivery
95. 76Saving for rights of third parties
96. 77Saving for rights of joint holders, etc.
97. Chapter 2: Identity, etc.
98. 78Evidence of identity
99. 79Persons unable to write
100. 80Persons under disability
101. 81Fees for birth, death, marriage and civil partnership certificates
102. 82Obligation of secrecy
103. Chapter 3: Nominations
104. 83Nominations made before 1st May 1981
105. 84Particulars to be furnished by nominator to Director of savings
106. 85Revocation of nominations
107. 86Nominations which also apply to stock held in the books of the Bank of England
108. Chapter 4: Death of depositors and holders
109. 87Law applicable on the death of a holder of a bond, stock or certificate
110. 88Payments under grant of representation in relation to bonds and certificates
111. 89Payment without a grant of representation
112. 90Death duties or inheritance tax chargeable on death of holders of stock or certificates Repealed
113. Chapter 5: Payments into and from the National Savings Bank, and unclaimed money
114. 91Payments into and from the National Savings Bank
115. 92Transfer of unclaimed money to the National Savings Bank
116. Chapter 6: Other administrative provisions
117. 93Defective applications
118. 94Loss of documents, etc.
119. 95Rectification of mistakes
120. Chapter 7: Application, revocation and savings
121. 96Law applicable to crossed warrants
122. 97Application to Scotland
123. 98Application to Northern Ireland
124. 99Application to the Isle of Man
125. 100Application to the Channel Islands
126. 101Revocations and savings
127. 102Modifications
128. Signature
129. Schedule 1Maximum holding of certificates issued before 10th September 1985
130. Schedule 2Revocations
131. Explanatory note