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Trustee Savings Banks Act 1981

1981 CHAPTER 65 cross-notes

An Act to consolidate the Trustee Savings Banks Act 1969 to 1978, with amendments to give effect to recommendations of the Law Commission and the Scottish Law Commission.

30th October 1981

Establishment of trustee savings banks

1, 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F1 3 Certification of a trustee savings bank.

(1)(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F2 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3 General provisions

4, 5. Title of a trustee savings bank.

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F4 6

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F5 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F6 7 The Central Board.

(1)(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F7 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F8 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F9 (5)(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F10 8—11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F11 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F13 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F14 15

(1)—(8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F15 (9)(10) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F16 (11) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F17 16

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F18 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F19 (3)(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F20 17, 18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F21 19

(1)—(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F22 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F23 20—22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F24 23, 24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F25 25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F26 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F27 27, 28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F28[F29 29 Deposits by, and payments to, certain institutions etc.

(1) Without prejudice to the provisions of section 31 of the M1 Industrial and Provident Societies Act 1965 and section 31 of the M2 Industrial and Provident Societies Act (Northern Ireland) 1969 (which deal with the investment powers of registered societies), the treasurer of any charitable or provident institution or society, or charitable donation or bequest for the maintenance, education or benefit of the poor, or of any penny savings bank, may invest the funds of the institution or society in the funds of a trustee savings bank.

(2) Where a payment is made by a trustee savings bank to a trustee, treasurer or other officer of a provident institution or society or of a charity, friendly society or penny savings bank who is apparently authorised to require that payment, his receipt shall be a sufficient discharge, and neither the trustee savings bank nor any of its trustees or officers shall be responsible for any misapplication or for any want of authority of the person requiring or receiving the payment.

(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F29]

F29 30—50. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F30 51 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F31 52 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F32 53 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F33 54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F34 55

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F35 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F36 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F35 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F36 56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F37 57 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F38 SCHEDULES

F39,F39 Schedule 1

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F40,F40 Schedule 2

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F41,F41 Schedule 3

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F42,F42 Schedule 4

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F43,F43 Schedule 5

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F44,F44 Schedule 6

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Schedule 7

1—4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F45 5—8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F46 9 (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F47 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F48 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F49 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F50 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F51 13—15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F52,F53,F53 Schedule 8

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Status: There are currently no known outstanding effects for the Trustee Savings Banks Act 1981.
Trustee Savings Banks Act 1981 (1981/65)
Version from: 1 February 1991

Displaying information

Status of this instrument

in force Provision is in force
in force* In force only for specified purposes (see footnote)
not in force Not in force in England (may be in force in other geographies, see footnotes)
defined term Defined term
dfn Defined term (alternative style)
footnote commentary transitional and savings in force status related provisions geo extent insert/omit source count in force adj
C1 Act repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110) , ss. 4(3) , 7(3) , Sch. 4 , the repeal by virtue of s. 4(3) being brought into force by S.I.s 1986/1220, 1986/1223, 1988/1168 and 1990/1982 as specified below
F1 Ss. 1 , 2 repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 3, 12, Sch. 1 repealed
F2 S. 3(1)(2) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F3 S. 3(3) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 Sch. (subject to a saving in art. 3 ) repealed
F4 Ss. 4 , 5 repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 4, 12, Sch. 1 repealed
F5 S. 6(1) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F6 S. 6(2) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 Sch. (subject to a saving in art. 4 ) repealed
F7 S. 7(1)(2) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 , Sch. repealed
F8 S. 7(3) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F9 S. 7(4) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 , Sch. repealed
F10 S. 7(5)(6) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F11 Ss. 8–11 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F12 S. 12 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) , and S.I. 1988/1168 , art. 2(a) repealed
F13 S. 13 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) , S.I . 1986/1223, arts. 2( a ), 12, Sch. 1 and S.I. 1988/1168 art. 2(b) repealed
F14 S. 14 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F15 S. 15(1)–(8) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F16 S. 15(9)(10) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , arts. 2 , Sch. (subject to a saving for s. 15(9) in art. 5 ) repealed
F17 S. 15(11) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F18 S. 16(1) repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 5, 12, Sch. 1 repealed
F19 S. 16(2) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 , Sch. (subject to a saving in art. 6 ) repealed
F20 S. 16(3)(4) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 5, 12, Sch. 1 repealed
F21 Ss. 17 , 18 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F22 S. 19(1)–(4) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F23 S. 19(5) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 , Sch. repealed
F24 Ss. 20–22 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F25 Ss. 23 , 24 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and by S.I. 1988/1168 , art. 2(b) repealed
F26 S. 25 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) , S.I . 1986/1223, arts. 2( a ), 12, Sch. 1 and S.I. 1988/1168 art. 2(b) repealed
F27 S. 26 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 6, 12, Sch. 1 repealed
F28 Ss. 27 , 28 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 7, 12, Sch. 1 repealed
F29 S. 29 repealed (with saving for subsections (1) and (2)) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 8, 9, 12, Sch. 1 (arts. 8 and 9 providing as follows: “8. Notwithstanding the repeal of subsection (1) of section 29 of the 1981 Act, any funds which are pursuant to that subsection invested before the vesting day in the funds of a trustee savings bank may continue on and after the vesting day to be invested with the successor bank. 9. Nothing in the repeal of subsection (2) of section 29 of the 1981 Act shall affect the continued operation of that subsection but on and after the vesting day the subsection shall apply as if any reference to a trustee savings bank or to the trustees or officers of such a bank were or included (as the case requires) a reference to the successor bank.”) repealed
F30 Ss. 30–50 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 10, 12, Sch. 1 repealed
F31 S. 51 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1988/1168 , art. 2(c) repealed
F32 S. 52 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F33 S. 53 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1988/1168 , art. 2(c) repealed
F34 S. 54 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 , Sch. repealed
F35 S. 55(1)(3) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , art. 2 ( a ), Sch. 1 repealed
F36 S. 55(2)(4) repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 , Sch. repealed
F37 S. 56 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 , Sch. repealed
F38 S. 57 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 , Sch. repealed
F39 Sch. 1 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F40 Sch. 2 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) , S.I . 1986/1223, arts. 2( a ), 11, 12, Sch. 1 and S.I. 1990/1982 , art. 2 , Sch. repealed
F41 Sch. 3 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1988/1168 , art. 2(d) repealed
F42 Sch. 4 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F43 Sch. 5 repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1988/1168 , art. 2(d) repealed
F44 Sch. 6 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , art. 2 ( a ), Sch. 1 (and also expressed to be repealed by Insolvency Act 1985 (c. 65, SIF 66) , Sch. 10 Pt. III ) repealed
F45 Sch. 7 paras. 1–4 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1990/1982 , art. 2 , Sch. repealed
F46 Sch. 7 paras. 5–8 , 9(1) repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F47 Sch. 7 paras. 5–8 , 9(1) repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F48 Sch. 7 para. 9(2) repealed by Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4) and S.I. 1988/1168 , art. 2(d) repealed
F49 Sch. 7 para. 10 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4) and S.I. 1986/1220 , art. 2 ( a ), Sch. 1 repealed
F50 Sch. 7 para. 11 repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F51 Sch. 7 para. 12 repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1220 , art. 2 ( a ) Sch. 1, 1986/1223 arts. 2( a ), 12, Sch. 1 repealed
F52 Sch. 7 paras. 13–15 repealed (with saving) by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
F53 Sch. 8 repealed by virtue of Trustee Savings Banks Act 1985 (c. 58, SIF 110) , s. 4(3)(4)(5) and S.I. 1986/1223 , arts. 2 ( a ), 12, Sch. 1 repealed
M1 1965 c. 12 .
M2 1969 c. 24 (N.I)
Defined Term Section/Article ID Scope of Application

Status of changes to instrument text

The list includes made instruments, both those in force and those yet to come into force. Typically, instruments that are not yet in force (hence their changes are not incorporated into the text above) are indicated by description 'not yet' in the changes made column.

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