Savings Banks Act 1949

Savings Banks Act 1949 An Act to amend the law relating to trustee savings banks, to abolish naval savings banks, to extend the powers of the Postmaster General under section two of the Savings Banks Act, 1904; and for purposes connected with the matters aforesaid. The Naval Savings Banks Act, 1866 (which authorises the establishment of naval savings banks) is hereby repealed. All property held by the Admiralty at the date of the passing of this Act for the purposes of naval savings banks shall be held by the Admiralty for the benefit of Greenwich Hospital and any money required by the Admiralty for the purpose of meeting any claim established in respect of any deposit in any naval savings bank shall be defrayed as expenses of Greenwich Hospital. This Act may be cited as the Savings Banks Act, 1949. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . This Act shall extend to the Channel Islands and the Isle of Man and shall be registered by the Royal Courts of the Channel Islands Words of enactment omitted under authority of Statute Law Revision Act 1948 (c. 62), s. 3 Ss. 1–6, 8–14, 16, 17(2) repealed by Trustee Savings Banks Act 1954 (c. 63), Sch. 3 S. 7 repealed by Post Office Savings Bank Act 1954 (c. 62), Sch. and Trustee Savings Banks Act 1954 (c. 63), Sch. 3 The text of s. 15(1) is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any repeals or amendments which may have been made prior to 1.2.1991 Functions of Admiralty under this Act now exercisable by a Secretary of State:Defence (Transfer of Functions) Act 1964 (c. 15), s. 1(2) A dagger appended to a marginal note means that it is no longer accurate.