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Provision when trustees have determined on closing savings banks.
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3. When the trustees of any savings bank shall have determined to close the savings bank for the receipt of deposits, and shall have given public notice of such intention by letter through the post office, prepaid, to each depositor at his residence when known, by advertisement in some one newspaper circulating in the district in which the savings bank is situate, and by affixing such notice on the outer door of the building in which the business of the savings bank is carried on, … such trustees may, if they think fit, transmit, under the hands of two trustees and three managers, to the Commissioners for the Reduction of the National Debt a certified list of such depositors as have not applied to them to receive their deposits or for transfer certificates, and of the amount due to them respectively, and the said Commissioners may thereupon receive from the said trustees all money remaining in the hands of the said trustees or of their treasurer; and if such money, with the money belonging to the said savings bank in the hands of the said Commissioners, together with the proceeds of the sale of other property, as referred to in section two of this Act, shall be sufficient to discharge the whole of the liabilities of such trustees to the depositors, as set forth in the said list, then the certificate of the said Commissioners shall be a sufficient discharge to the said trustees in respect of all such money so paid over, or in the hands of the said Commissioners; and all such monies shall be held by the said Commissioners, subject to the rights and claims of the depositors named in such list, who shall thenceforth be considered to be depositors in a Post Office savings bank ; and such depositors, on presenting their deposit books at any Post Office savings bank, shall be entitled to claim payment of the sums due to them respectively, with the interest due to them thereon, and on establishing their claim shall be paid out of the monies so paid over by the trustees under this and the foregoing section of this Act and in the hands of the Commissioners as above referred to; and the surplus of such monies, if any, after providing for the sums due to such depositors, shall be carried to the separate surplus fund in the books of the said Commissioners.
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