Savings Banks Act, 1891

Powers of National Debt Commissioners to determine certain questions as to savings banks.

26 & 27 Vict. c. 87.

5.(1) If, on any report by the Inspection Committee, any question arises as to what constitute the necessary expenses attending the management of a trustee savings bank within the meaning of section two of the Trustee Savings Banks Act, 1863, whether involving the withdrawal of any portion of the separate surplus fund, in pursuance of section twenty-nine of the said Act, or not, the decision of the National Debt Commissioners on the question shall be conclusive.

(2) No application to the National Debt Commissioners for a payment from the separate surplus fund standing at the credit of any savings bank shall be entertained unless it have the previous sanction of the Inspection Committee.