Savings Banks Act, 1904

Annual statement of liabilities.

26 & 27 Vict. c. 25.

24 & 25 Vict. c. 14.

9.—(1) The National Debt Commissioners in conjunction with the Postmaster General shall, at the close of each year ending on the thirty-first day of December, prepare a statement showing the aggregate amount of the liabilities of the Government to depositors in Post Office Savings Banks at that date and the nature and amount of the securities held by the Commissioners to meet those liabilities, and the National Debt Commissioners shall, at the close of each year ending on the twentieth day of November, prepare a statement showing the aggregate amount of the liabilities of the Government to Trustee Savings Banks and to Friendly Societies respectively and the nature and amount of the securities held by the Commissioners to meet those liabilities; and the statements so prepared shall be laid before Parliament not later than the last day of June in each year.

(2) The obligation of the National Debt Commissioners and the Postmaster General to prepare a balance sheet under section six of the Savings Bank Investment Act, 1863 , and section nine of the Post Office Savings Bank Act, 1861 , shall cease, but nothing in this section shall affect any liability of the Consolidated Fund in respect of the said liabilities, and section six of the Post Office Savings Bank Act, 1861, shall apply with respect to the liabilities of the fund for the Banks for savings, as it applies with respect to the liabilities of the Post Office Savings Bank Fund.