Trustee Savings Banks Act 1863
| Jurisdiction | UK Non-devolved |
| Citation | 1863 c. 87 |
(26 & 27 Vict.) C A P. LXXXVII.
[28th July 1863]
'WHEREAS numerous Banks for Savings have been established under the Authority of the Acts now in force for the safe Custody and Increase of small Savings: And whereas it is expedient to amend such Laws and to consolidate the same in One Act:' Be it therefore enacted by the Queen's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same:
1 After 20th Nov. 1863 the Acts, &c. specified in Schedule A. repealed.
1. That the Acts and Parts of Acts set forth in the Schedule to this Act marked A., to the Extent to which they are herein expressed, and all other Acts and Parts of Acts which are inconsistent with this Act, relating to Savings Banks established under such Acts, are repealed from and after the Twentieth Day ofNovember One thousand eight hundred and sixty-three, except in so far as is provided by the last Sectionof this Act: Provided nevertheless, that nothing herein contained shall invalidate or annul any Payments, Receipts, or Appointments made, or Proceedings had, or Bonds or Securities taken or entered into, or Drafts, Powers of Attorney, Certificates, Orders, or other Instruments whatsoever executed, under the Authority of any of the said Acts or Parts of Acts hereby repealed: Provided also, that the Provisions of an Act passed in the Fifty-ninth Year of the Reign of KingGeorge the Third, intituled Scotland, shall continue in force as to all Savings Banks established under it before the passing of this Act, unless and until they shall conform to and be established under the Provisions of this Act.
2 What Institutions shall be entitled to the Privileges and Benefits of this Act.
2. 'And whereas it is expedient to give Protection to such Savings Banks already established as aforesaid and the Funds thereof, and to afford Encouragement to the Formation and Establishment of like Institutions:' Be it therefore enacted, That if any Number of Persons have formed or shall form any Society in any Part of the United Kingdom ofGreat Britain and Ireland for the Purpose of establishing and maintaining any Institution in the Nature of a Bank to receive Deposits of Money for the Benefit of the Persons depositing the same, to accumulate the Produce of so much thereof as shall not be required by the Depositors, their Executors or Administrators, at Compound Interest, and to return the whole or any Part of such Deposit and the Produce thereof to the Depositors, their Executors or Administrators (deducting out of such Produce so much as shall be required for the necessary Expenses attending the Management of such Institution), but deriving no Benefit whatsoever from any such Deposit or the Produce thereof, and shall be desirous of having the Benefit of the Provisions of this Act, such Persons shall cause the Rules and Regulations established or to be established for the Management of such Institution to be entered, deposited, and filed in manner herein-after directed, and thereupon shall be deemed to be entitled to and shall have the Benefit of the Provisions contained in this Act: Provided always, that the Privilege of paying Money into the Banks of England or Ireland , and of receiving Receipts for the same, shall be and the same is hereby declared to be extended to all such Savings Banks as may have formed or may hereafter form their Rules and Regulations according to the Provisions of this Act; and it shall and may be lawful for the Trustees of such Savings Banks respectively to invest any Funds already accumulated by such Savings Banks, and which shall not have been invested at the Time of the passing of this Act, and to receive Receipts for the same in manner authorized by this Act: Provided nevertheless, that no such Savings Bank to be hereafter formed shall have or be entitled to the Benefits of the Provisions in this Act contained, unless the Formation of the same shall have been sanctioned and approved of by the Commissioners for the Reduction of the National Debt, or on their Behalf by the Comptroller General or Assistant Comptroller acting under the said Commissioners.
3 Rules of Savings Bank to be entered in a Book and be open to Inspection.
3. No such Savings Bank as aforesaid shall have the Benefit of this Act unless the Rules and Regulations for the Management thereof shall be entered in a Book or Books to be kept by an Officer of such Savings Bank to be appointed for that Purpose, and which Book or Books shall be open at all seasonable Times for the Inspection of the Persons making Deposits in the Funds of such Savings Bank. But, nevertheless, nothing herein contained shall extend to prevent any Alteration in or Amendment of any such Rules or Regulations, or repealing or annulling the same or any of them in the whole or in part, or making any new Rules or Regulations for the Management of such Savings Bank in such Manner as by the Rules and Regulations of such Savings Bank shall from Time to Time be provided; but such new Rules or Regulations, or such Alterations in or Amendments of former Rules or Regulations, or any Order annulling or repealing any former Rule or Regulation in the whole or in part, shall not be in force until the same respectively shall be entered in such Book or Books as aforesaid.
4 Two written or printed Copies of Rules, &c. to be submitted to Barrister for his Certificate.
4. Two written or printed Copies of all Rules or Alterations of Rules made for the Management of any Savings Bank requiring the Benefits of this Act, signed by Two Trustees, shall with all convenient Speed after the same shall be made, altered, or amended, and so from Time to Time after every making, altering, or amending thereof, he submitted by the Trustees and Managers for the Time being of such Savings Bank to the Barrister-at-Law appointed by the Commissioners for the Reduction of the National Debt, for the Purpose of ascertaining whether the said Rules, or Alterations or Amendments thereof, are in conformity to Law and with the Provisions of this Act; and the said Barrister shall give a Certificate on each of the said written or printed Copies that the same are in conformity to Law, or point out in what Partor Parts the said Rules, Alterations, or Amendments are repugnant thereto; and the Fee to be paid to such Barrister for perusing the Rules, Alterations, or Amendments of the Rules of such Savings Bank, and giving such Certificate as aforesaid, shall not at any One Time exceed the Sum of OneGuinea; and One of such written or printed Copies, when certified by the said Barrister, shall be returned to the Trustees of the said Savings Bank, and the other of such written or printed Copies shall be transmitted by such Barrister to the Commissioners for the Reduction of the National Debt; and all Rules, Alterations, and Amendments thereof from the Time when the same shall have been certified by the said Barrister shall be binding on the Trustees, Managers, and Officers of the said Savings Bank and the Depositors therein, and their Representatives, and the Copy of such Rules deposited with the said Commissioners, or a true Copy thereof examined with the Original and proved to be a true Copy, shall be received as Evidence of such Rules respectively in all Cases, and no Certiorari shall be brought or allowed to remove any such Rules into amy of Her Majesty's Courts of Record; provided that nothing herein contained shall be construed to require any Rule making any Alteration in the Days or Hours of Attendance at any such Savings Bank as aforesaid to be laid before such Barrister.
5 As to Title of Savings Banks certified under this Act.
5. Every Savings Bank established or to be established under the Provisions of the said hereby repealed Acts or this Act shall be certified under the Provisions of this Act by the Title of ‘Savings Bank certified under the Act of 1863;’ and if any other Bank, Association, or Company, or any other Person, shall use or adopt such Title as their or his Designation, or in carrying on Business, the Membersof every such Association or Company, or any of them, or any such Person respectively, shall be guilty of a Misdemeanor, and on Conviction thereof shall be punishable accordingly.
6 No Savings Bank, subject to Proviso herein-after contained with respect to Branch Offices, &c., shall have Benefit of this Act unless in Rules, &c. it shall be expressly provided as herein specified.
6. No Savings Bank, subject to the Proviso herein-after contained with respect to the Branch Offices or Local Receivers of any Savings Bank, shall have the Benefit of this Act unless in the Rules and Regulations for the Management thereof it shall be expressly provided,—
1. That no Person or Persons being Treasurer, Trustee, or Manager of such Savings Bank, or having any Control in the Management thereof, shall derive any Benefit from any Deposit made in such Savings Bank, save only and except such Salaries and Allowances or other necessary Expenses as shall according to such Rules and Regulations be provided for the Charges of managing...
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