Commonwealth Numbered Regulations

1982 No. 206 Banking (Savings Banks) Regulations (Amendment) - RULE 4.

4. Regulation 7 of the Banking (Savings Banks) Regulations is amended by
adding at the end thereof the following sub-regulation:



"(3) In sub-regulation (1), a reference to a local authority, company, body,
society or club in relation to an account shall not be read as including a
reference to a company or other body engaged in or formed for the purpose of
trading or acquiring pecuniary profit unless the company or other body is
acting in the capacity of trustee in relation to the account and the
beneficiary is not a company or other body engaged in or formed for the
purpose of trading or acquiring pecuniary profit.".