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Part I.
Savings Banks.
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Provisions as to limits on savings bank deposits and on investment in Government stock.
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1.—(1) There shall, subject as hereinafter provided, be no limit on the amount which may be received by a savings bank authority from any person by way of depositor on the amount of Government stock which may be credited by a savings bank authority to the amount of any depositor, and all enactments imposing, or relating whether directly or indirectly to, any such limit shall cease to have effect:
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Provided that it shall be lawful for the Treasury at any time by order under this section to limit the amount which may be so received from any person whatsoever either in any one year or in the aggregate, or the amount of Government stock which may be so credited to any person whatsoever either in one year or in the aggregate.
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(2) An order under this section—
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(a) may fix different limits as respects different classes of persons:
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(b) may provide that any limit fixed by the order shall have effect subject to any exceptions or exclusions specified in the order:
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(c) may contain special provisions with respect to depositors whose deposits at the date on which the order takes effect exceed the limit fixed by the order as regards deposits or in whose case the Government stock credited at that date exceeds the limit fixed by the order as regards Government stock:
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(d) may contain such consequential and supplemental provisions as appear to the Treasury to be necessary for giving full effect to the order:
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(e) may be revoked, extended or varied by a subsequent order:
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(f) shall have effect as if enacted in this Act.
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(3) Before any order is made under this section, a draft thereof shall be laid before each House of Parliament for a period of not less than twenty-one days during the session of Parliament, and, if either House before the expiration of that period presents an Address to His Majesty against the draft or any part thereof, no further proceedings shall be taken thereon, but without prejudice to the making of any new draft order.
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(4) This section shall take effect as from the expiration of a period of six months after the termination of the present war.
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