—— Part Koyal Navy
(a)
II.
.
Constitution of Banks.
and merchant or other sea
579
service, their wives, widows,
Sect.
6.
The amount of such deposits must not at any one Seamen's time exceed .^200. The National Debt Commissioners, on the request and Naval of the Board of Trade, may receive from and repay to the account of and Military the Board money paid as deposit in such banks (c). The money is Savings invested in the same manner as that received from trustee savings Banks. banks, and interest paid thereon in the same way (d). Sums due from the Board of Trade to the estate of any deceased person on account of any such deposit are paid and applied by the Board of Trade as if they were the property of a deceased seaman received by the Board (e). or children
An
(/)).
annual account
of all deposits received
and repaid and the
both Houses of Parliament (/). 1178. The Admiralty has power to establish savings banks
interest thereon
is
laid before
(^),
Naval
from petty officers and seamen on the books of His Majesty's vessels, and from non-commissioned officers and privates of the royal marines and regulations for the management of such banks may be made by Crder in Council. Subject to any regulations, deposits may be transferred to other savings banks, and any deposits may be invested in the names of the National Debt Commissioners in certain approved stocks and and the interest so obtained, which is not subject to securities any tax or deductions, may also be similarly invested (/i)
savings banks.
1179. Military or regimental savings banks may be established under regulations made by the Secretary of State for War, with the concurrence of the Treasury, for the purpose of receiving deposits from non-commissioned officers and soldiers employed at home or abroad (except in India), or deposits of funds raised or paid for purposes connected with non-commissioned officers and soldiers (i).
Military savings
for the receipt of deposits
Sect.
Post
7.
Office
Savings Banks.
1180. The Postmaster-General, with the consent of the Treasury, Post Office may authorise and direct any of his officers to receive deposits for ^^^^^^ ^' remittance to the principal office, and to repay the same, subject to such regulations as he, with the concurrence of the Treasury, may prescribe (j). Deposits, which cannot be of less than a shilling, are duly entered Amount ^^po^^*in the depositor's book, and if of more than £1 are acknowledged by the Postmaster- General through an officer appointed by him (k). (a)
Merchant Skipping Act, 1894
(b)
Ibid.
149 149
(c)
Ibid.,
(d)
Ibid.,
s.
(e)
Ibid.,
s.
150.
s.
152.
(/) Ibid.,
s.
(57
&
58 Vict.
c.
60),
s.
148.
(1). (2).
See
p.
577, ante.
These banks are not savings banks vi^ithin the Trustee Savings Banks Act, 1863 (26 & 27 Vict. c. 87), s. 38, or any Act relating to savings banks prior to see Naval Savings Bank Act, 1866 (29 & 30 Vict. c. 43), s. 7. June 28, 1866 (h) Naval Savings Bank Act, 1866 (29 & 30 Vict. c. 43), ss. 8, 9. Apparently no fresh (^) Military Savings Bank Act, 1859 (22 & 23 Vict. c. 20). account has been opened, and no new bank established, since 1897. (g)
Savings Banks Act, 1861 (24 & 25 Vict. c. 14), s. 1. A Post bank is now available in every town and in many villages. The limit of £1 was fixed by the Savings Banks Act, 1904 2.
(i) Post Office Offiice
savings
{k) Ibid.,
(4
Edw.
s.
7, c. 8), s. 11.
p p 2
of
