NOTES:
(1) There was no reference in the original Regulations to an annual limit on deposits
(2) Rule 29 of the 1919 Rules
& Regulations allowed a Trade Union to deposit up to £2,000
(3) The withdrawal of an Aggregate Limit, and the imposition
of an Annual Limit (£500), was described by J P Hilton in Chapter 19 of his
book
Britain's
First Municipal Savings Bank. That description is reproduced in the
1925 Regulations
(4) The 1925 Regulations retained the one
penny minimum of 1919 as Regulation 35, which was subject to Regulation 36: Limitation of
deposits, which
stated:
Subject to Regulation No. 37, the Bank shall not receive
from any person by way of deposit in any bank year
any sums exceeding in the aggregate
five hundred pounds, whether any sum has been previously withdrawn
within that year by that
person or not:
Provided that a depositor may, not more than
once in any bank year, deposit money to replace money
previously
withdrawn in one entire sum during that year.
The exceptions regarding limitations of deposits in Regulation 37 were detailed
as follows:
(1) The limitation on the amount of annual deposits imposed by Regulation No 36 shall not apply to deposits
made
(a) by a friendly society duly registered under the Acts relating
to friendly societies or by a registered
branch
of such a society;
(b) by a society under the Building Societies Acts;
(c) by a society registered under the Industrial and Provident Societies Act, 1893, being a society entitled
to exemption from income tax under sub-section (4) of section thirty-nine of the Income Tax Act, 1918;
(d) with the approval of the National Debt Commissioners and subject to any Regulations prescribed by
them in that behalf, by the trustees or treasurers of any charitable or provident institution or society,
or charitable donation or bequest for the maintenance, education or benefit of the poor, or of any penny
savings bank in Great Britain or Northern Ireland;
(e) by the Public Trustee.
(2) In computing for the purpose of these Regulations the amount deposited by any person in any one bank
year, there shall not be taken into account any sum transferred from the account of a deceased depositor.
(3) Nothing in these Regulations shall operate to render unlawful any deposit of whatsoever amount lawfully
made before the date on which these Regulations shall come into operation
(5) See
Regulations 1930 regarding 'Exceptions
to limitations of deposits' (Regulation 37)
(6) The
1947 Regulations amended the 1930 Regulations regarding 'Exceptions to limitations
of deposits' (Regulation 37)
(8) Following the complete re-writing
of the Regulations in 1970, the rules governing limitations etc were now specified in Regulations
(10) Although withdrawals were now allowed 'On Demand' the Bank's literature advised that 'A short period of
notice may be asked for
large sums'
To open an account in the No 3 (Investment) Department,
a minimum sum was required to be maintained in the No 1 Department.
This minimum amount was:
(11) A minimum sum of £100 was required
from January 1st 1967
(12) A minimum sum of £50 was required from October 1st 1970
(13) A minimum sum was not specified
from January 1st 1974, only that a 'Qualifying Account was required'