Savings Banks Act, 1958

Receipt and repayment of deposits.

2.—In the case of any trustee savings bank, notwithstanding anything contained in the Acts or the rules and regulations for the management of the bank—

(a) deposits may be received and repaid by cheque or other negotiable instrument or by postal or money order,

(b) the receipt and repayment of deposits may be carried out either during or outside the usual hours of the bank for public business,

(c) delivery of the amount of a deposit, either for receipt or repayment, may be made by post, and

(d) for the purposes of a group savings scheme operated by the bank in any place, deposits may be received on behalf of the bank at that place by a trustee, manager or paid officer of the bank, either during or outside the usual hours of the bank for public business.