Post Office Act 1969

Part VU.K. Provisions for securing the Continuance of the Carrying on, under the Auspices of a Director of Savings in Place of the Postmaster General, of certain financial Business

The Director of SavingsU.K.

93 Appointment, and functions and expenses, &c., of the Director of Savings.U.K.

(1)(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1

(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2

(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3

Replacement of the Postmaster General by the Director of Savings for the Purposes of the Post Office Savings Bank Acts 1954 and 1966, and Provisions consequential thereonU.K.

94 The National Savings Bank.U.K.

(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4

(2)F5, as from the appointed day, F5 and—

(a)(b)F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(d)any reference to the Postmaster General in a nomination executed under regulations made, or having effect as if made, under section 2 of the M1Post Office Savings Bank Act 1954 shall be construed as referring to the Director of Savings.

(3)The amendment of section 27 of the M2Crown Proceedings Act 1947 effected by virtue of subsection (2)(c) above is an amendment of that section as well in its application to the Crown in right of Her Majesty’s Government in Northern Ireland as in its application to the Crown in right of Her Majesty’s Government in the United Kingdom.

(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4

95—105.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6U.K.

106, 107.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7U.K.

Replacement of the Postmaster General by the Director of Savings for the Purposes of the National Debt Act 1958 and the National Loans Act 1968, and Provisions consequential thereonU.K.

108 The stock register kept under Part I of the National Debt Act 1958.U.K.

(1)

F8(a)in section 48 of the M3Finance (No. 2) Act 1915 (procedure on death of a person entitled to government stock), for the words “the Postmaster General” there shall be substituted the words “the Director of Savings” ;

(b)in sections 66 (transfer of government stock on authority of order of a court) and 67 (indemnity on transfer of government stock) of the M4Finance Act 1916, for the words “the Postmaster General” there shall be substituted the words “the Director of Savings” ;

(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9

(d)in section 47(4)(c) of the M5Finance Act 1942 (transfer and registration of government stock), for the words “the Post Office register established under the M6War Loan (Supplemental Provisions) Act 1915”, there shall be substituted the words “the National Savings Stock Register”;

(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F10

(f)in section 1(4)(c) of the M7Stock Transfer Act 1963 (simplified transfer of securities), for the words “the Post Office register” there shall be substituted the words “the National Savings Stock Register”; and

(g)any reference to the Postmaster General in a nomination executed under regulations made, or having effect as if made, under section 2 of the M8National Debt Act 1958 shall be construed as referring to the Director of Savings.

(2)—(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F11

109 Power of the Treasury to raise money under the auspices of the Director of Savings.U.K.

The power conferred by section 12 of the M9National Loans Act 1968 on the Treasury to raise money shall extend to raising money under the auspices of the Director of Savings and, in particular, by the issue, under his auspices, of national savings certificates; F12

110—112.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F13U.K.

Credits to the Post Office in respect of certain capital Expenditure incurred by the Postmaster General in Connection with annuity, savings bank and national debt FunctionsU.K.

113 Credits to the Post Office in respect of certain capital expenditure incurred by the Postmaster General in connection with annuity, savings bank and national debt functions.U.K.

(1)The Post Office shall, for the purposes of section 33 of this Act, be entitled to credit of—

(a)the sum certified by the Minister to be the net book value of buildings erected at the expense of the Postmaster General on the land mentioned in section 107(1) of this Act, being buildings in the case of which expenditure incurred by him after 9th July 1952 with reference to the erection thereof was treated by him as capital expenditure;

(b)the sum so certified to be the net book value of works executed at the expense of the Postmaster General on that land, being works in the case of which expenditure so incurred with reference to the execution thereof was so treated; and

(c)the sum so certified to be the net book value of apparatus installed by the Postmaster General on that land, being apparatus in the case of which expenditure so incurred in the provision and installation thereof was so treated, but not being telegraphic apparatus.

(2)The Post Office shall, for the purposes of section 33 of this Act, be entitled to credit of—

(a)the sum certified by the Minister to be the net book value of every such parcel of land as follows, namely,—

(i)every parcel in the case of which an estate or interest subsisting therein of the Postmaster General is, after the passing of this Act, conveyed, assigned or transferred by him to the Minister of Public Building and Works (being a parcel the whole or part of which is occupied, or is intended to be occupied, by the Postmaster General in connection with the exercise and performance of his functions under the M10Government Annuities Act 1929, the Post Office Savings Bank Acts 1954 and 1966, the M11National Debt Act 1958 or the M12National Loans Act 1968); and

(ii)every parcel in the case of which an estate or interest subsisting therein of the Postmaster General vests in the Post Office by virtue of this Act (being a parcel which, immediately before the appointed day, is the subject of an agreement, to which the parties are the Postmaster General, the Minister of Public Building and Works and the Post Office for the conveyance, assignment or transfer by the Post Office to that Minister of the estate or interest that so vests);

(b)the sum so certified to be the net book value of buildings erected, on any such parcel as aforesaid, at the expense of the Postmaster General, being buildings in the case of which the expenditure of the Postmaster General with reference to the erection thereof was treated by him as capital expenditure; and

(c)the sum so certified to be the net book value of works executed, at his expense, on any such parcel as aforesaid, being works in the case of which the expenditure of the Postmaster General with reference to the execution thereof was so treated.

(3)The Post Office shall, for the purposes of section 33 of this Act, be entitled to credit of—

(a)the sum certified by the Minister to be the net book value of every building erected at the expense of the Postmaster General on land in England in which—

(i)the Minister of Public Building and Works has an estate or interest immediately before the appointed day; but

(ii)the Postmaster General does not then have, and never previously had, an estate or interest;

being a building in the case of which the expenditure of the Postmaster General with reference to the erection thereof was treated by him as capital expenditure; and

(b)the sum so certified to be the net book value of works executed at the expense of the Postmaster General on every parcel of such land as aforesaid, being works in the case of which the expenditure of the Postmaster General with reference to the execution thereof was so treated.

(4)In this section “building” includes part of a building and “net book value” means, in relation to land, buildings, works or apparatus, the value thereof (after deducting depreciation) as shown in the books by reference to which the final statement of accounts under section 12 of the M13Post Office Act 1961 is prepared.

Extent of Part V and Schedule 6U.K.

114 Extent of Part V and Schedule 6.U.K.

This Part of this Act and Schedule 6 thereto shall extend to the Isle of Man and the Channel Islands.