CO129-567-10 Companies Amendment Ordinance- draft bill 15-9-1938 - 28-9-1938 — Page 106

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1

Exemption

from Stamp Duty.

Notice of Trust.

Exemption from Postage.

To what

accounts the

Regulations are applic- able.

Application to Scotland.

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in the account (or other evidence to the Postmaster-General's satisfaction), that the total estate of the deceased depositor, including the amount of such deposits, does not after deduction of debts and funeral expenses exceed the value of £100.

(3) In every such case as aforesaid, where the total estate of the deceased depositor, including such deposits, but after deduction of debts and funeral expenses exceeds £100, the Postmaster- General shall, before making any payment to any survivor in the account, or to any person other than the legal personal repre- sentative of the deceased depositor or the Public Trustee, require production of a certificate from the Commissioners of Inland Revenue of the payment of the Estate Duty, and of a duly stamped receipt for the Succession or Legacy Duty, payable in respect of such deposits, or of a certificate stating that no Succession or Legacy Duty is payable.

(4) Provided nevertheless that in the case of an account opened or held under Regulation 9 hereof, the preceding sub-clauses of this Regulation shall not apply in respect of such account on the death of the person named therein as trustee.

89. No Warrant or other order for the payment of money, no receipt or other acknowledgment for the receipt of money, and no power of Attorney or other document in relation solely to the pay- ment or receipt of money deposited in the Post Office Savings Bank is liable to or charged with any Stamp Duty.

90. Subject to the provisions of these Regulations no notice of any trust, express, implied, or constructive, shall be receivable by the Postmaster-General in respect of any deposit.

91.—(1) Declarations, Deposit Books, Acknowledgments, Notices of Withdrawal, Warrants, and all Documents and Cor- respondence passing in the British Islands between the Post- master-General and any depositor or other person in relation to Savings Bank business shall be transmitted by post free of postage. (2) All documents and correspondence passing by post between the Postmaster-General and depositors outside the British Islands shall, if posted by the Postmaster-General, be transmitted free of postage to the depositor, and if addressed to the Postmaster- General, be prepaid by the sender.

Application of Regulations,

92. These Regulations shall apply to all sums standing to the credit of any account open in the Post Office Savings Bank on the day when these Regulations come into operation.

93. These Regulations shall apply to Scotland, with the follow- ing modifications, subject nevertheless to the provisions of Regulation 80 (that is to say) :-

(1) Expressions referring to the persons beneficially entitled to the personal estate of a deceased depositor according to the Statutes of Distribution, shall, in the case of a depositor domiciled at the date of death in Scotland, be deemed to refer to the persons entitled to share in the distribution of the movable or personal estate of such depositor according to the law of Scotland.

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(2) Expressions referring to the Committee of the Estate of a person of unsound mind shall be deemed to refer to the curator or curator bonis of a person found insane according to the law of Scotland.

(3) Expressions referring to the Probate of the Will or to Letters of Administration to the estate and effects of a deceased depositor shall, in the case of a depositor domiciled in Scotland, be deemed to refer to confirma- tion of executors according to the law of Scotland. (4) Where on the death of a depositor domiciled in Scotland, who has made a nomination, the Postmaster-General has notice of a claim of any person entitled on the ground of jus relictae or legitim to any part of the estate of such depositor and such estate, apart from the amount nominated, appears to be insufficient to satisfy such claim, the Postmaster-General may in his dis- cretion apply the amount nominated in or towards the satisfaction of such claim, but subject as aforesaid, any payment made by the l'ostmaster-General to the nominee (irrespective of the amount due to the deposi- tor at his death), shall be a valid payment, and the receipt of the nominee shall be a good discharge to the Postmaster-General for the sum so paid.

(5) Expressions referring to the Solicitor to the Treasury, in the case of a depositor domiciled in Scotland, shall be deemed to refer to the King's and Lord Treasurer's Remembrancer.

(6) Expressions referring to a County Court, to the Judge of a County Court, and to the Registrar of a County Court shall be deemed respectively to refer to the Sheriff Court, to the Sheriff, and to the Sheriff Clerk.

(7) It shall not be necessary to obtain the sanction of the Treasury to the withdrawal by a Sheriff Clerk of monies standing in his name as such.

94. These Regulations shall apply to Ireland with the following Application modifications subject nevertheless to the provisions of Regulation to Ireland. 80 (that is to say) :—

in

(1) With regard to deposits made under the provisions of the County Courts Ireland Acts, 1851 to 1889, and any other Act authorising the lodgment of money County Courts in Ireland, the following provisions shall apply:-

(a) Expressions referring to the Judge of a County Court shall include the Recorder of any city or town.

(b) Expressions referring to the Registrar of a County Court shall be deemed to refer to the Clerk of the Peace, and the expression Clerk of the Peace " shall include Clerk of the Crown and Peace where the offices are united.