Savings Bank Act, 1893

Rules as to computing maximum and dealing with dividends.

4. (1) Dividends on Government stock credited to a depositor in a savings bank shall be dealt with in all respects as money deposited by that depositor, but shall not during the year in which they are credited be reckoned in computing the maximum amount which may be deposited in that year or in the aggregate.

(2) When any sums not deposited for immediate investment in Government stock or in the purchase of a savings bank annuity or insurance are so invested by any savings bank authority on the request of the depositor, any sums previously deposited in the savings bank year by that depositor shall not, except so far as they exceed in the aggregate the sums so invested in that year, be reckoned in computing the maximum amount which may be deposited in that year.