Savings Banks Act, 1958
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Removal of restrictions on number of accounts in savings banks. |
5.—(1) Section 38 of the Trustee Savings Banks Act, 1863 (which prohibits double accounts in trustee savings banks), subsection (2) of section 1 of the Savings Banks Act, 1887 (which provides that regulations shall prohibit a person from being a depositor in both a trustee savings bank and the Post Office Savings Bank or from having two separate accounts in the Post Office Savings Bank), and subsection (1) of section 12 of the Savings Banks Act, 1891 (which provides for the forfeiture of amounts illegally deposited) shall cease to have effect. | |
(2) Regulations may be made by the Minister for Finance prescribing what declaration shall be required from a depositor on opening an account in a trustee savings bank and regulations may be made under section 11 of the Post Office Savings Bank Act, 1861 , prescribing what declaration shall be required from a depositor on opening an account in the Post Office Savings Bank. |