|
|
From and after 20th November 1844, the interest payable to trustees of savings banks shall be at the rate of 3l. 5s. per cent.
Principal and interest to be chargeable on any monies standing in names of national debt commissioners.
|
[1.] On the twentieth day of November one thousand eight hundred and forty-four the interest payable on the receipts issued to the trustees of savings banks by the commissioners for the reduction of the national debt shall cease, and [Rep. 54 & 55 Vict. c. 67. (S.L.R.)] from and after the said twentieth day of November all receipts issued prior to that day shall carry interest at the rate of three pounds five shillings per centum per annum; and upon the payment of any sum or sums of money into the banks of England or Ireland, to the account of the said commissioners, by the trustees of any savings bank, it shall be lawful for the officer or officers of the said commissioners in that behalf, and he and they is and are hereby authorized and empowered, to issue, upon every such payment being made, a receipt, signed by one of the cashiers of the banks, of England or Ireland respectively, for the amount of such payment, carrying interest at the rate of three pounds five shillings per centum per annum from the day of such payment inclusive, payable, with the principal, at the banks of England or Ireland respectively, whenever the same shall be required or drawn for in manner directed by the said recited Act; and such receipt shall be dated on the day on which the payment of any such sum or sums of money shall be made respectively; and every such receipt shall be in such form as shall be from time to time directed by the said commissioners; and the principal and interest of all sums mentioned in any receipt shall be charged and chargeable upon, and the same are hereby charged and made payable out of, all or any monies standing in any account in the names of the said commissioners or out of any monies produced by the sale of any stock or annuities, funds, or Exchequer bills, standing in their names in the books of the banks of England or Ireland respectively, as the said commissioners shall from time to time direct: Provided always, that no fractional part less than one penny shall be allowed or paid as interest upon the principal sum contained in any receipt issued under the provisions of this Act.
|
|
|
Settlement of disputes between trustees and depositors, &c.
|
14. [1]
If any dispute shall arise between the trustees and managers of any savings bank and any individual depositor therein, or any executor, administrator, next of kin, or creditor, or assignee of depositor, who may become bankrupt or insolvent, or any person claiming to be such executor, administrator, next of kin, creditor, or assignee, or to be entitled to any money deposited in such savings bank, then and in every such case the matter in dispute shall be referred in writing to the barrister-at-law appointed under the said recited Acts, who shall have power to proceed ex parte on notice in writing to the said trustees or managers left or sent by the said barrister to the office of the said institution; and whatever award, order, or determination shall be made by the said barrister shall be binding and conclusive on all parties, and shall be final to all intents and purposes, without any appeal; and no submission to, award, order, or determination of the said barrister shall be subject or liable to or charged with any stamp duty whatever.
|
|
|
On reference barrister may inspect books and administer oaths to witnesses.
False swearing, &c. to be perjury.
|
15. [1] On any such reference it shall be lawful for the said barrister, and he is hereby authorized, to inspect any book or books belonging to the said institution relating to the matter in dispute, and to administer an oath to any witness appearing before him, or to take the affirmation in cases where affirmation is allowed by law instead of oath; and if upon such oath or affirmation any person making the same shall wilfully and corruptly give any false evidence, every person so offending shall be deemed and taken to be guilty of perjury, and shall be prosecuted and punished accordingly.
|
| |
[1Short title, “The Savings Banks Act, 1844.” See 55 & 56 Vict. c. 10. The whole Act is rep. 26 & 27 Vict. c. 87. s. 1., with a proviso in section 68 that that Act shall not be held to repeal any of the existing statutes relating to savings banks in so far as relates to post office savings banks established or to be established under 24 & 25 Vict. c. 14., nor to repeal any of the powers and authorities vested by those Acts in the commissioners for the reduction of the national debt in regard to the control, management, investment, conversion, and regulation of the funds remitted by the trustees of savings banks or by the trustees of friendly societies to the said commissioners.]
[1 See note to title.] |
