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Trustee Savings Banks Act 1981

1981 CHAPTER 65

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. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Certification of a trustee savings bank.

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

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

General provisions

4, 5. Title of a trustee savings bank.

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6

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

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

7 The Central Board.

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

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

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

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

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

12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

15

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

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

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

16

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

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

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

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

19

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

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

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

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

25 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

29 Deposits by, and payments to, certain institutions etc.

(1) Without prejudice to the provisions of section 31 of the Industrial and Provident Societies Act 1965 and section 31 of the 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) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

51 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

52 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

53 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

54 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

55

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

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

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

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

56 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

57 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULES

Schedule 1

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Schedule 2

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Schedule 3

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Schedule 4

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Schedule 5

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Schedule 6

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Schedule 7

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

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

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

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

10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

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)

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Status of this instrument

footnotecommentarytransitional and savingsin force statusrelated provisionsgeo extentinsert/omitsource countin force adj
C1Act 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
F1Ss. 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. 1repealed
F2S. 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. 1repealed
F3S. 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
F4Ss. 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. 1repealed
F5S. 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. 1repealed
F6S. 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
F7S. 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
F8S. 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. 1repealed
F9S. 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
F10S. 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. 1repealed
F11Ss. 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. 1repealed
F12S. 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
F13S. 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
F14S. 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. 1repealed
F15S. 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. 1repealed
F16S. 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
F17S. 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. 1repealed
F18S. 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. 1repealed
F19S. 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
F20S. 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. 1repealed
F21Ss. 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. 1repealed
F22S. 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. 1repealed
F23S. 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
F24Ss. 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. 1repealed
F25Ss. 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
F26S. 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
F27S. 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. 1repealed
F28Ss. 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. 1repealed
F29S. 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
F30Ss. 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. 1repealed
F31S. 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
F32S. 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. 1repealed
F33S. 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
F34S. 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
F35S. 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. 1repealed
F36S. 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
F37S. 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
F38S. 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
F39Sch. 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. 1repealed
F40Sch. 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
F41Sch. 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
F42Sch. 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. 1repealed
F43Sch. 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
F44Sch. 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
F45Sch. 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
F46Sch. 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. 1repealed
F47Sch. 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. 1repealed
F48Sch. 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
F49Sch. 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. 1repealed
F50Sch. 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. 1repealed
F51Sch. 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. 1repealed
F52Sch. 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. 1repealed
F53Sch. 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. 1repealed
M11965 c. 12 .
M21969 c. 24 (N.I)
Defined TermSection/ArticleIDScope of Application

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    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.