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Transfer of Government stock by savings bank authorities.
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8. In the case of the death of any person, being either a depositor in a savings bank to whom Government stock has been credited or a person entitled to Government stock inscribed in the Post Office register, the production of probate or letters of administration granted by any court in the Isle of Man or in any of the Channel Islands having authority to grant the same or of a certified copy of probate or letters of administration so granted shall, subject as hereinafter provided, be sufficient authority to the savings bank authority and (in so far as they are concerned) to the National Debt Commissioners, to transfer the Government stock to the person to whom the probate or letters of administration were granted or as directed by that person, and, where any stock is transferred in pursuance of the provisions of this section, the savings bank authority and the Commissioners shall, notwithstanding the invalidity of or any defect in the probate or letters of administration, be freed, discharged, and indemnified from and against all proceedings of any kind whatsoever brought against them by any person whatsoever for or in respect of the transfer of the stock:
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