Statutory Instruments
2000 No. 1421
SAVINGS BANKS
The National Savings Bank (Investment Deposits) (Limits) (Amendment) Order 2000
Made
26th May 2000
Coming into force
27th May 2000
Whereas a draft of this Order has been laid before Parliament and a period of 40 days beginning with the day of laying has expired and neither House of Parliament has resolved that the Order be not made;
Now, therefore, the Treasury in exercise of the powers conferred on them by section 4 of the National Savings Bank Act 1971( 1 ), and of all other powers enabling them in that behalf, hereby make the following Order:—
1. This Order may be cited as the National Savings Bank (Investment Deposits) (Limits) (Amendment) Order 2000 and shall come into force on 27th May 2000.
2. The National Savings Bank (Investment Deposits) (Limits) Order 1977( 2 ) shall be amended in accordance with the following provisions of this Order.
3. After Article 2C there shall be inserted the following—
“ 2D. In this Order, the expression “account manager” has the same meaning as in the Individual Savings Account Regulations 1998 ” .( 3 ).
4. In Article 3B(a) after “6th April 1999” there shall be inserted “ or 6th April 2000”.
5. After Article 4(1)(e) there shall be inserted the following—
“ (f) the receipt or crediting of any amount to an individual savings account of a sum transferred by an account manager pursuant to the Individual Savings Account Regulations 1998 ” .
Clive Betts
Jim Dowd
Two of the Lords Commissioners of Her Majesty’s Treasury
26th May 2000
1971 c. 29 ; section 4 was amended by paragraph 3 of Schedule 20 to the Finance Act 1982 (c. 39) .
S.I. 1977/1210 ; relevant amending instruments are S.I. 1987/329 , 1993/1239 , 1996/1854 , 1999/1056 .
S.I. 1998/1870