Statutory Instrument 1991 No. 76

The Savings Contracts (Amendment) Regulations 1991

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© Crown Copyright 1991

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1991 No. 76

NATIONAL DEBT

The Savings Contracts (Amendment) Regulations 1991

The Treasury, in exercise of the powers conferred on them by section 11 of the National Debt Act 1972 ^[1]and of all other powers enabling them in that behalf, hereby make the following Regulations:

Citation and commencement
    1.    These Regulations may be cited as the Savings Contracts (Amendment) Regulations 1991 and shall come into force on 11th February 1991.

Amendment of principal Regulations
    2.    The Savings Contracts Regulations 1969 ^[2] shall be amended:
 (a) by substituting the following for regulation 6(5)—
"  (5)  An uncrossed warrant shall be payable at the place named in the warrant or otherwise in accordance with the directions contained therein. The Director of Savings may dispatch the warrant to such place, and where he does so shall dispatch a notice informing the payee that he has done so." ; and

 (b) by substituting the following for regulation 6(6)—
"  (6)  The posting of
(a) a warrant, or

(b) the notice referred to in paragraph (5) above, where in accordance with that paragraph an uncrossed warrant is dispatched to the place at which it is payable,

to any person at the last address furnished to the Director of Savings shall, as regards the liability of the Treasury or the Director of Savings, be equivalent to the delivery of the warrant or notice to that person." .

Sydney Chapman

Irvine Patnick

Two of the Lords Commissioners of Her Majesty's Treasury

16th January 1991

These Regulations amend the Savings Contracts Regulations 1969 by making provision in relation to the dispatch of cash warrants to the place at which they are payable and to the posting of warrants and certain notices.

[1] 1972 c. 65. back

[2] S.I. 1969/1342, to which there are amendments not relevant to these Regulations. back