Statutory Instruments
2008 No. 734
Savings Banks
The National Savings Bank (Amendment) Regulations 2008
Made
13th March 2008
Laid before Parliament
14th March 2008
Coming into force
6th April 2008
The Treasury, in exercise of the powers conferred upon them by section 2(1) of the National Savings Bank Act 1971( 1 ), as extended by sections 3(2) and 4(4) of that Act, make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the National Savings Bank (Amendment) Regulations 2008.
2. These Regulations shall come into force on 6th April 2008.
Amendment of the National Savings Bank Regulations 1972
3. —(1) The National Savings Bank Regulations 1972( 2 ) are amended as follows.
(2) In regulation 2(1)( 3 ) (Interpretation)—
(a) omit the definition of “mini-account”; and
(b) omit the definition of “TESSA only account”.
(3) After regulation 2A(e)( 4 ) (Disapplication of particular regulations to certain accounts) insert—
“ (ee) regulation 29L(4); ” .
(4) In regulation 29L(5)( 5 ) (Deposits to individual savings accounts) omit from “unless he is opening” to the end.
Amendment of the National Savings Bank (Investment Deposits) (Limits) Order 1977
4. —(1) The National Savings Bank (Investment Deposits) (Limits) Order 1977( 6 ) is amended as follows.
(2) In article 2C( 7 )—
(a) omit “the expression “follow-up account” has the same meaning as in section 326BB of the Income Taxes Act 1988,”; and
(b) omit from “and the expressions” to the end.
(3) In article 3B( 8 ) for the words from “: (a) in any year” to the end substitute “, £3,600 in any year beginning on 6th April”.
(4) Omit article 3C( 9 ).
Dave Watts
Steve McCabe
Two of the Lords Commissioners
of Her Majesty’s Treasury
13th March 2008
S.I. 1972/764 ; relevant amending instruments are S.I. 1999/588 , 1999/1611 , 2003/2895 .
The definitions of “mini-account” and “TESSA only account” were inserted by S.I. 1999/1611 .
Regulation 2A was inserted by S.I. 2003/2895 .
Regulation 29L was inserted by S.I. 1999/588 and paragraph (5) was amended by S.I. 1999/1611 .
S.I. 1977/1210 ; relevant amending instruments are S.I. 1999/1056 , 1999/2060 , 2001/858 .
Article 2C was inserted by S.I. 1999/2060 .
Article 3B was inserted by S.I. 1999/1056 and amended by S.I. 2001/858 .
Article 3C was inserted by S.I. 1999/2060 .