Postal and Telecommunications Services Act, 1983
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Savings Bank business. |
104.—(1) The company may— | |
(a) appoint such of its offices as it may specify to be Savings Bank offices, | ||
(b) authorise any of its officers to transact Savings Bank business otherwise than at a Savings Bank office, | ||
(c) direct when Savings Bank business shall be transacted, | ||
(d) require the surrender and cancellation of a deposit book and issue a replacement, | ||
(e) pay any sum in respect of any amount on deposit in the Savings Bank without production of a deposit book if it is satisfied that the claimant is entitled to the payment, and | ||
(f) at its absolute discretion accept or refuse any nomination. | ||
(2) (a) A warrant issued by the company in accordance with regulations to which section 103 relates shall be a valid discharge to the company in respect of the amount to which the warrant applies. | ||
(b) The transfer of an account made by the company in accordance with such regulations shall operate as a valid discharge by the transferor to the company in respect of the amount of the transfer. | ||
(3) (a) Notwithstanding anything in the Post Office Savings Bank Acts, 1861 to 1958, the Minister for Finance, after consultation with the Minister, the company and the Central Bank, may authorise the company to undertake any business of banking which is, in the opinion of the Minister for Finance, calculated to encourage thrift and within the financial capacity of the Savings Bank. | ||
(b) The Minister for Finance, after consultation with the Minister, the company and the Central Bank, may by order make such provision concerning the application of any enactment to that business as he, after consultation as aforesaid and with any other appropriate Minister, considers necessary or desirable. | ||
(c) The Minister for Finance, after consultation as aforesaid, may by order amend or revoke an order made under paragraph (b). |